Acadian Asset Management LLC Boosts Stock Position in Lowe's Companies, Inc. $LOW

Key Points

• Acadian Asset Management LLC increased its stake in Lowe's Companies by 637.7% in the first quarter, bringing its total holdings to 160,408 shares, valued at approximately $37.4 million.
• Recent analyst reports indicate a mixed outlook on Lowe's, with price target revisions ranging from $242.00 to $294.00 and a consensus rating of "Moderate Buy".
• Lowe's disclosed a quarterly dividend of $0.012, representing an annualized yield of 0.0%, with an upcoming payment date of November 5th for stockholders of record on October 22nd.

Acadian Asset Management LLC boosted its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 637.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 160,408 shares of the home improvement retailer's stock after purchasing an additional 138,663 shares during the quarter. Acadian Asset Management LLC's holdings in Lowe's Companies were worth $37,403,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Lowe's Companies by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 54,609,378 shares of the home improvement retailer's stock worth $12,736,545,000 after purchasing an additional 230,359 shares during the last quarter. Invesco Ltd. increased its holdings in Lowe's Companies by 10.6% during the 1st quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock worth $1,214,448,000 after purchasing an additional 501,154 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Lowe's Companies by 6.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer's stock worth $1,192,213,000 after purchasing an additional 330,701 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Lowe's Companies by 6.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer's stock worth $1,242,793,000 after purchasing an additional 323,371 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Lowe's Companies by 6.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,779,120 shares of the home improvement retailer's stock worth $881,406,000 after purchasing an additional 225,964 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on LOW shares. Citigroup lowered their price target on Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. JPMorgan Chase & Co. boosted their price target on Lowe's Companies from $280.00 to $283.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Piper Sandler boosted their price target on Lowe's Companies from $269.00 to $294.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Stifel Nicolaus boosted their price target on Lowe's Companies from $240.00 to $265.00 and gave the company a "hold" rating in a report on Monday, August 18th. Finally, Barclays set a $267.00 price target on Lowe's Companies in a report on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $284.13.

Insider Transactions at Lowe's Companies

In other news, EVP Brandon J. Sink sold 8,192 shares of the business's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $268.58, for a total value of $2,200,207.36. Following the sale, the executive vice president owned 21,603 shares of the company's stock, valued at approximately $5,802,133.74. The trade was a 27.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Juliette Williams Pryor sold 929 shares of the business's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the completion of the sale, the executive vice president directly owned 30,099 shares in the company, valued at $7,741,462.80. This represents a 2.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,121 shares of company stock valued at $13,003,146. Corporate insiders own 0.27% of the company's stock.

Lowe's Companies Price Performance

NYSE:LOW opened at $266.53 on Thursday. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01. The firm has a market capitalization of $149.48 billion, a P/E ratio of 21.90, a P/E/G ratio of 2.49 and a beta of 0.87. The business has a 50 day simple moving average of $241.49 and a 200 day simple moving average of $231.38.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $23.99 billion. During the same quarter in the previous year, the firm posted $4.10 EPS. The firm's quarterly 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. Research analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be paid a $0.012 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe's Companies's payout ratio is currently 39.44%.

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.

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