Allspring Global Investments Holdings LLC Increases Holdings in Lowe's Companies, Inc. $LOW

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Lowe's Companies by 11.1%, owning a total of 111,244 shares valued at approximately $25.4 million.
• Lowe's reported earnings of $4.33 per share for the last quarter, surpassing analysts' expectations, with a revenue of $23.96 billion.
• The company declared a quarterly dividend of $1.20 per share, with an annualized dividend yield of 2.0%.

Allspring Global Investments Holdings LLC lifted its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 11.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,244 shares of the home improvement retailer's stock after buying an additional 11,070 shares during the period. Allspring Global Investments Holdings LLC's holdings in Lowe's Companies were worth $25,435,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LOW. Brighton Jones LLC raised its holdings in shares of Lowe's Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock valued at $7,889,000 after buying an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Lowe's Companies by 31.6% in the 4th 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. GAMMA Investing LLC increased its stake in Lowe's Companies by 15.3% in the 1st quarter. GAMMA Investing LLC now owns 7,106 shares of the home improvement retailer's stock worth $1,657,000 after purchasing an additional 944 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Lowe's Companies by 5.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 417,824 shares of the home improvement retailer's stock worth $97,450,000 after purchasing an additional 20,434 shares during the period. Finally, Shepherd Financial Partners LLC increased its stake in Lowe's Companies by 7.9% in the 1st quarter. Shepherd Financial Partners LLC now owns 1,313 shares of the home improvement retailer's stock worth $306,000 after purchasing an additional 96 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe's Companies Stock Performance

Shares of LOW stock opened at $243.11 on Friday. The firm has a market cap of $136.34 billion, a P/E ratio of 19.98, a P/E/G ratio of 2.24 and a beta of 0.88. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $285.24. The business's 50 day moving average price is $255.14 and its 200-day moving average price is $234.62.

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

Lowe's Companies Dividend Announcement

The company also recently declared 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. The ex-dividend date is Wednesday, October 22nd. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. Lowe's Companies's payout ratio is currently 39.44%.

Insider Transactions at Lowe's Companies

In related news, EVP Brandon J. Sink sold 8,192 shares of Lowe's Companies stock in a transaction that occurred 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 sale, the executive vice president directly owned 21,603 shares in the company, valued at $5,802,133.74. The trade was a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of Lowe's Companies stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total value of $11,942,606.00. Following the sale, the executive vice president owned 66,566 shares in the company, valued at $18,145,891.60. This represents a 39.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety 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.

Analyst Ratings Changes

A number of equities analysts have commented on the company. KeyCorp lifted their price target on Lowe's Companies from $266.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Mizuho lifted their price target on Lowe's Companies from $280.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Piper Sandler lifted their price target on Lowe's Companies from $269.00 to $294.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Oppenheimer lifted their price target on Lowe's Companies from $305.00 to $320.00 and gave the stock an "outperform" rating in a research note on Thursday, September 25th. Finally, UBS Group lifted their price target on Lowe's Companies from $300.00 to $325.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price 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.

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