131,200 Shares in Lowe's Companies, Inc. $LOW Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• The Virginia Retirement Systems acquired 131,200 shares of Lowe's Companies, Inc., valued at approximately $29.1 million, during the second quarter.
• Lowe's reported a quarterly EPS of $4.33, beating expectations, with revenue at $23.96 billion, slightly below the consensus estimate.
• The company declared a quarterly dividend of $1.20 per share, reflecting a 2.0% yield and a payout ratio of 39.44%.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 131,200 shares of the home improvement retailer's stock, valued at approximately $29,109,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Fairway Wealth LLC purchased a new stake in Lowe's Companies in the 1st quarter worth approximately $32,000. Olistico Wealth LLC purchased a new stake in Lowe's Companies in the 2nd quarter worth approximately $33,000. Inlight Wealth Management LLC purchased a new stake in Lowe's Companies in the 1st quarter worth approximately $36,000. TruNorth Capital Management LLC purchased a new stake in Lowe's Companies in the 1st quarter worth approximately $38,000. Finally, JNBA Financial Advisors lifted its position in Lowe's Companies by 147.1% in the 1st quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer's stock worth $39,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Price Performance

Shares of LOW opened at $244.81 on Monday. The company has a market capitalization of $137.30 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 2.27 and a beta of 0.88. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $282.70. The company's fifty day moving average price is $255.21 and its 200 day moving average price is $234.78.

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

Lowe's Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be given a $1.20 dividend. 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 (DPR) is currently 39.44%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on LOW shares. Wolfe Research started coverage on shares of Lowe's Companies in a research report on Wednesday, September 17th. They issued an "outperform" rating for the company. Stifel Nicolaus raised their price target 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. Citigroup cut their price target on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Sanford C. Bernstein raised their price target on shares of Lowe's Companies from $266.00 to $279.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Finally, Mizuho raised their price target on shares of Lowe's Companies from $280.00 to $285.00 and gave the company an "outperform" rating in a report on Friday, August 29th. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $282.91.

Insider Activity at Lowe's Companies

In other Lowe's Companies news, CEO Marvin R. Ellison sold 40,000 shares of the firm'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 directly owned 249,043 shares in the company, valued at $65,772,256.30. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brandon J. Sink sold 8,192 shares of the firm'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 $5,802,133.74. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,931 shares of company stock valued at $24,945,752. Company insiders own 0.27% of the company's stock.

Lowe's Companies Company 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.

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