Boomfish Wealth Group LLC Increases Stock Holdings in Lowe's Companies, Inc. $LOW

Key Points

• Boomfish Wealth Group LLC increased its stock holdings in Lowe's Companies, Inc. by 10%, owning 12,375 shares valued at approximately $2.75 million as of the latest SEC filing.
• Analysts have raised their price targets for Lowe's, with UBS Group increasing it to $325, reflecting a generally positive outlook with a consensus rating of "Moderate Buy."
• Lowe's recently announced a quarterly dividend of $1.20 per share, resulting in an annualized dividend yield of 2.0%, demonstrating commitment to returning value to shareholders.

Boomfish Wealth Group LLC lifted its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 10.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,375 shares of the home improvement retailer's stock after buying an additional 1,128 shares during the quarter. Lowe's Companies accounts for 1.6% of Boomfish Wealth Group LLC's portfolio, making the stock its 26th biggest holding. Boomfish Wealth Group LLC's holdings in Lowe's Companies were worth $2,746,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of LOW. Nuveen LLC purchased a new stake in shares of Lowe's Companies in the first quarter valued at approximately $681,215,000. Pacer Advisors Inc. boosted its stake in shares of Lowe's Companies by 2,984.6% in 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 buying an additional 1,971,996 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Lowe's Companies by 1,048.5% in the first quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer's stock valued at $172,527,000 after buying an additional 675,318 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Lowe's Companies by 49.0% in the first quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer's stock valued at $438,751,000 after buying an additional 618,775 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Lowe's Companies by 10.6% in the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock valued at $1,214,448,000 after buying an additional 501,154 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LOW shares. UBS Group lifted their price target on Lowe's Companies from $300.00 to $325.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Stifel Nicolaus lifted their price objective on Lowe's Companies from $240.00 to $265.00 and gave the stock a "hold" rating in a report on Monday, August 18th. Sanford C. Bernstein lifted their price objective on Lowe's Companies from $266.00 to $279.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Wells Fargo & Company lifted their price objective on Lowe's Companies from $260.00 to $300.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Finally, DA Davidson lifted their price objective on Lowe's Companies from $240.00 to $266.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $283.13.

Lowe's Companies Stock Down 0.9%

NYSE LOW opened at $237.62 on Thursday. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. The stock has a market cap of $133.26 billion, a price-to-earnings ratio of 19.53, a price-to-earnings-growth ratio of 2.22 and a beta of 0.88. The business has a fifty day moving average of $254.58 and a 200-day moving average of $234.36.

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 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 analysts' expectations of $23.99 billion. During the same period in the previous year, the firm posted $4.10 earnings per share. The business's revenue for the quarter 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. As a group, analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be given a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. Lowe's Companies's payout ratio is currently 39.44%.

Insiders Place Their Bets

In other news, EVP Joseph Michael Mcfarland sold 43,810 shares of Lowe's Companies stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $272.60, for a total value of $11,942,606.00. Following the completion of the sale, the executive vice president owned 66,566 shares of the company's stock, valued at $18,145,891.60. The trade was a 39.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brandon J. Sink sold 8,192 shares of Lowe's Companies stock in a transaction on Friday, September 5th. The shares were sold at an average price of $268.58, for a total value of $2,200,207.36. Following the completion of the sale, the executive vice president directly owned 21,603 shares of the company's stock, valued at approximately $5,802,133.74. This represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,931 shares of company stock worth $24,945,752 in the last three months. Company 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.

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