Rossby Financial LCC Raises Stock Holdings in Lowe’s Companies, Inc. $LOW

Rossby Financial LCC increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,137 shares of the home improvement retailer’s stock after purchasing an additional 61 shares during the period. Rossby Financial LCC’s holdings in Lowe’s Companies were worth $474,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Brighton Jones LLC grew its stake in Lowe’s Companies by 119.7% in the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock worth $7,889,000 after purchasing an additional 17,413 shares during the period. Revolve Wealth Partners LLC grew its stake in Lowe’s Companies by 31.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock worth $266,000 after purchasing an additional 259 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Lowe’s Companies by 15.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,084 shares of the home improvement retailer’s stock worth $16,009,000 after acquiring an additional 9,617 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Lowe’s Companies by 5.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 100,174 shares of the home improvement retailer’s stock worth $23,442,000 after acquiring an additional 4,846 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC boosted its holdings in Lowe’s Companies by 6.7% in the first quarter. Avidian Wealth Enterprises LLC now owns 2,214 shares of the home improvement retailer’s stock worth $516,000 after acquiring an additional 139 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on LOW shares. Guggenheim reissued a “buy” rating and issued a $300.00 target price on shares of Lowe’s Companies in a report on Thursday, August 21st. Robert W. Baird boosted their target price on Lowe’s Companies from $285.00 to $295.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Wells Fargo & Company boosted their target price on Lowe’s Companies from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Truist Financial boosted their target price on Lowe’s Companies from $264.00 to $283.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. Finally, Sanford C. Bernstein boosted their target price on Lowe’s Companies from $266.00 to $279.00 and gave the stock an “outperform” rating in a report on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $282.59.

Lowe’s Companies Price Performance

LOW stock opened at $243.81 on Tuesday. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $280.64. The business has a fifty day moving average price of $254.50 and a 200-day moving average price of $235.86. The stock has a market capitalization of $136.73 billion, a P/E ratio of 20.03, a P/E/G ratio of 2.25 and a beta of 0.88.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.09. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The firm had revenue of $23.96 billion during the quarter, compared to analysts’ expectations of $23.99 billion. During the same quarter in the previous year, the business earned $4.10 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s dividend payout ratio is 39.44%.

Insider Transactions at Lowe’s Companies

In related news, EVP Brandon J. Sink sold 8,192 shares of the company’s stock in a transaction on Friday, September 5th. The stock was sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the completion of the sale, the executive vice president owned 21,603 shares in the company, valued at approximately $5,802,133.74. This represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total value of $10,564,000.00. Following the sale, the chief executive officer owned 249,043 shares of the company’s stock, valued at approximately $65,772,256.30. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,931 shares of company stock worth $24,945,752 in the last three months. 0.27% of the stock is owned by insiders.

Lowe’s Companies Profile

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.