Lowe's Companies, Inc. $LOW Shares Sold by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. reduced its stake in Lowe's Companies by 1.6%, owning 203,029 shares valued at approximately $47.35 million after selling 3,349 shares.
• Lowe's reported an EPS of $4.33 for the most recent quarter, beating expectations, while quarterly revenue slightly missed estimates at $23.96 billion.
• The company has recently announced a cut in its dividend to $0.012 per share, with a dividend yield of 0.0% and a payout ratio of 39.44%.

Baird Financial Group Inc. trimmed its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,029 shares of the home improvement retailer's stock after selling 3,349 shares during the period. Baird Financial Group Inc.'s holdings in Lowe's Companies were worth $47,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Lowe's Companies in the first quarter valued at about $681,215,000. Pacer Advisors Inc. lifted its position in Lowe's Companies by 2,984.6% during the first quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer's stock valued at $475,339,000 after purchasing an additional 1,971,996 shares during the period. GAMMA Investing LLC grew its stake in shares of Lowe's Companies by 26,796.0% during the 1st quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer's stock worth $386,540,000 after purchasing an additional 1,651,170 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Lowe's Companies by 1,048.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer's stock valued at $172,527,000 after purchasing an additional 675,318 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Lowe's Companies during the 4th quarter valued at approximately $159,029,000. Hedge funds and other institutional investors own 74.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LOW shares. Telsey Advisory Group reissued an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a report on Thursday, August 21st. JPMorgan Chase & Co. increased their target price on shares of Lowe's Companies from $280.00 to $283.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Citigroup dropped their target price on Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. Sanford C. Bernstein upped their price target on Lowe's Companies from $266.00 to $279.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Finally, Barclays set a $267.00 price objective on Lowe's Companies in a report on Thursday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $284.13.

Lowe's Companies Trading Up 1.4%

NYSE:LOW traded up $3.73 during trading hours on Thursday, hitting $264.41. 1,344,987 shares of the stock were exchanged, compared to its average volume of 2,692,093. The firm's fifty day moving average price is $237.06 and its 200 day moving average price is $230.63. Lowe's Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01. The company has a market cap of $148.29 billion, a P/E ratio of 21.73, a P/E/G ratio of 2.39 and a beta of 0.87.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued 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 firm had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same period in the previous year, the company posted $4.10 earnings per share. The business's 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. Equities analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Cuts Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio (DPR) is currently 39.44%.

Insider Transactions at Lowe's Companies

In related news, CEO Marvin R. Ellison sold 40,000 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the completion of the sale, the chief executive officer owned 249,043 shares of the company's stock, valued at approximately $65,772,256.30. This represents a 13.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Juliette Williams Pryor sold 929 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total transaction of $238,938.80. Following the completion of the transaction, the executive vice president directly owned 30,099 shares in the company, valued at $7,741,462.80. This trade represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.

Lowe's Companies 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.