Assetmark Inc. Acquires 20,123 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Assetmark Inc. boosted its Lowe’s stake by 23.1% in Q1, buying 20,123 more shares and bringing its total to 107,249 shares valued at about $25.3 million.
• Wall Street remains cautiously positive on Lowe’s, with 23 Buy ratings, 11 Hold ratings, and 2 Sell ratings; the consensus price target is $264.57, while several firms recently trimmed their targets.
• Lowe’s posted solid quarterly results and raised its dividend, beating EPS and revenue estimates for the quarter and increasing its quarterly payout to $1.25 per share from $1.20.

Assetmark Inc. raised its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 23.1% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 107,249 shares of the home improvement retailer's stock after purchasing an additional 20,123 shares during the period. Assetmark Inc.'s holdings in Lowe's Companies were worth $25,341,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. Main Street Group LTD purchased a new position in Lowe's Companies during the first quarter worth about $63,000. Angeles Wealth Management LLC grew its position in Lowe's Companies by 6.1% in the 1st quarter. Angeles Wealth Management LLC now owns 4,347 shares of the home improvement retailer's stock worth $1,027,000 after purchasing an additional 248 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. increased its stake in Lowe's Companies by 7.9% in the 1st quarter. Financiere des Professionnels Fonds d investissement inc. now owns 1,520 shares of the home improvement retailer's stock valued at $359,000 after buying an additional 111 shares during the last quarter. Bessemer Group Inc. increased its stake in Lowe's Companies by 1.9% in the 1st quarter. Bessemer Group Inc. now owns 859,125 shares of the home improvement retailer's stock valued at $202,994,000 after buying an additional 15,638 shares during the last quarter. Finally, Avalon Trust Co lifted its position in shares of Lowe's Companies by 0.5% during the 1st quarter. Avalon Trust Co now owns 127,330 shares of the home improvement retailer's stock worth $30,086,000 after buying an additional 611 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on LOW shares. Robert W. Baird cut their target price on Lowe's Companies from $320.00 to $270.00 and set an "outperform" rating on the stock in a research note on Thursday, May 21st. DA Davidson reaffirmed a "neutral" rating and set a $275.00 price target on shares of Lowe's Companies in a research report on Wednesday, May 20th. UBS Group dropped their price target on Lowe's Companies from $315.00 to $285.00 and set a "buy" rating on the stock in a report on Thursday, May 21st. Bank of America cut their price objective on Lowe's Companies from $260.00 to $257.00 and set a "neutral" rating on the stock in a research report on Thursday, May 21st. Finally, Craig Hallum upgraded Lowe's Companies to a "buy" rating in a research note on Tuesday, May 12th. Twenty-three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Lowe's Companies has an average rating of "Moderate Buy" and a consensus price target of $264.57.

Insider Activity

In other news, EVP Margrethe R. Vagell sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $223.83, for a total value of $559,575.00. Following the completion of the transaction, the executive vice president directly owned 20,220 shares in the company, valued at approximately $4,525,842.60. This trade represents a 11.00% decrease in their ownership of the stock. The transaction 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 9,330 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $224.81, for a total transaction of $2,097,477.30. Following the transaction, the executive vice president directly owned 16,142 shares of the company's stock, valued at approximately $3,628,883.02. This represents a 36.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 25,980 shares of company stock worth $5,796,937. 0.29% of the stock is owned by company insiders.

Lowe's Companies Stock Performance

Shares of NYSE LOW opened at $208.57 on Friday. Lowe's Companies, Inc. has a fifty-two week low of $203.40 and a fifty-two week high of $293.06. The stock has a market cap of $116.95 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 2.64 and a beta of 0.86. The stock has a fifty day moving average of $217.04 and a 200-day moving average of $241.57.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data on Wednesday, May 20th. The home improvement retailer reported $3.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.06. Lowe's Companies had a negative return on equity of 67.96% and a net margin of 7.51%.The business had revenue of $23.08 billion for the quarter, compared to analysts' expectations of $22.98 billion. During the same quarter in the prior year, the firm posted $2.92 EPS. The firm's quarterly revenue was up 10.3% on a year-over-year basis. Lowe's Companies has set its FY 2026 guidance at 12.250-12.750 EPS. On average, sell-side analysts predict that Lowe's Companies, Inc. will post 12.48 EPS for the current year.

Lowe's Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 22nd will be issued a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, July 22nd. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. Lowe's Companies's payout ratio is currently 40.57%.

Lowe's Companies Profile

Lowe's Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe's also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.

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