Cidel Asset Management Inc. Increases Stock Position in Lowe’s Companies, Inc. $LOW

Cidel Asset Management Inc. boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,100 shares of the home improvement retailer’s stock after acquiring an additional 1,672 shares during the period. Cidel Asset Management Inc.’s holdings in Lowe’s Companies were worth $13,778,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in Lowe’s Companies in the first quarter valued at $32,000. Olistico Wealth LLC purchased a new stake in shares of Lowe’s Companies in the second quarter valued at about $33,000. Inlight Wealth Management LLC purchased a new stake in shares of Lowe’s Companies in the first quarter valued at about $36,000. TruNorth Capital Management LLC purchased a new stake in shares of Lowe’s Companies in the first quarter valued at about $38,000. Finally, JNBA Financial Advisors raised its holdings in shares of Lowe’s Companies by 147.1% in the first quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer’s stock valued at $39,000 after buying an additional 100 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Up 0.7%

Shares of LOW opened at $244.81 on Friday. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $282.70. The stock’s 50 day moving average is $255.21 and its two-hundred day moving average is $234.69. The firm has a market capitalization of $137.30 billion, a PE ratio of 20.12, a P/E/G ratio of 2.27 and a beta of 0.88.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same quarter in the previous year, the company earned $4.10 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

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

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 40,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the transaction, the chief executive officer directly owned 249,043 shares in the company, valued at approximately $65,772,256.30. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Juliette Williams Pryor sold 929 shares of the company’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total transaction of $238,938.80. Following the transaction, the executive vice president owned 30,099 shares in the company, valued at $7,741,462.80. The trade was a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LOW. Stifel Nicolaus upped their target price on shares of Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a report on Monday, August 18th. Robert W. Baird upped their target price on shares of Lowe’s Companies from $285.00 to $295.00 and gave the company an “outperform” rating in a report on Thursday, August 21st. Wolfe Research began coverage on shares of Lowe’s Companies in a report on Wednesday, September 17th. They issued an “outperform” rating for the company. Barclays set a $267.00 target price on shares of Lowe’s Companies in a report on Thursday, August 21st. Finally, Wall Street Zen raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Sixteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $282.91.

About Lowe’s Companies

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.