Ameriprise Financial Inc. Has $602.71 Million Position in Lowe's Companies, Inc. $LOW

Key Points

• Ameriprise Financial Inc. increased its stake in Lowe's Companies by 5.5% to approximately $602.71 million during the first quarter, holding 2,609,325 shares.
• Lowe's Companies has recently experienced a quarterly earnings report with earnings per share of $4.33, surpassing estimates, alongside a revenue of $23.96 billion.
• The company announced a quarterly dividend increase from $1.15 to $1.20, translating to an annualized dividend of $4.80 and a yield of 1.9%.

Ameriprise Financial Inc. increased its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,609,325 shares of the home improvement retailer's stock after buying an additional 135,245 shares during the quarter. Ameriprise Financial Inc. owned 0.47% of Lowe's Companies worth $602,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gen Wealth Partners Inc boosted its holdings in Lowe's Companies by 1.9% in the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer's stock worth $534,000 after acquiring an additional 40 shares in the last quarter. Second Line Capital LLC increased its position in Lowe's Companies by 0.9% in the fourth quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer's stock worth $1,183,000 after buying an additional 44 shares in the last quarter. Vertex Planning Partners LLC grew its position in shares of Lowe's Companies by 2.9% during the first quarter. Vertex Planning Partners LLC now owns 1,582 shares of the home improvement retailer's stock worth $369,000 after purchasing an additional 44 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its stake in Lowe's Companies by 0.8% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer's stock valued at $1,357,000 after buying an additional 47 shares during the last quarter. Finally, Fielder Capital Group LLC lifted its stake in shares of Lowe's Companies by 5.9% during the 1st quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer's stock worth $202,000 after acquiring an additional 48 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

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 that occurred 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 transaction, the chief executive officer directly 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the transaction, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Lowe's Companies Price Performance

NYSE:LOW traded up $0.35 during trading hours on Wednesday, reaching $258.68. The company's stock had a trading volume of 569,832 shares, compared to its average volume of 2,711,691. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01. The business's 50-day moving average is $231.88 and its 200-day moving average is $230.26. The company has a market cap of $144.98 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 2.40 and a beta of 0.89.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.09. Lowe's Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The company had revenue of $23.96 billion during the quarter, compared to analysts' expectations of $23.99 billion. During the same period in the prior year, the company earned $4.10 earnings per share. The business's quarterly revenue 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 fiscal year.

Lowe's Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were issued a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, July 23rd. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. Lowe's Companies's dividend payout ratio (DPR) is 39.44%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LOW shares. 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 research note on Thursday, August 21st. Robert W. Baird lifted their target price on Lowe's Companies from $285.00 to $295.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Telsey Advisory Group reiterated an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a research report on Thursday, August 21st. Morgan Stanley lowered their target price on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Truist Financial lifted their target price on Lowe's Companies from $264.00 to $283.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Sixteen 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $283.92.

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.