Burgundy Asset Management Ltd. Has $7.10 Million Stake in Lowe's Companies, Inc. $LOW

Key Points

• Burgundy Asset Management Ltd. reduced its stake in Lowe's Companies, Inc. by 4.2%, selling 1,329 shares and holding a total of 30,456 shares worth approximately $7.1 million.
• Lowe's reported $2.92 earnings per share for the recent quarter, exceeding analysts' expectations, despite a revenue decline of 2.0% year-over-year.
• The company increased its quarterly dividend from $1.15 to $1.20, with a 1.9% yield and a dividend payout ratio of 39.77%.

Burgundy Asset Management Ltd. lessened its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,456 shares of the home improvement retailer's stock after selling 1,329 shares during the quarter. Burgundy Asset Management Ltd.'s holdings in Lowe's Companies were worth $7,103,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wood Tarver Financial Group LLC acquired a new position in Lowe's Companies during the fourth quarter worth approximately $25,000. Fairway Wealth LLC bought a new stake in shares of Lowe's Companies during the first quarter worth approximately $32,000. Orion Capital Management LLC bought a new stake in shares of Lowe's Companies during the fourth quarter worth approximately $36,000. Inlight Wealth Management LLC bought a new stake in shares of Lowe's Companies during the first quarter worth approximately $36,000. Finally, IFS Advisors LLC boosted its holdings in shares of Lowe's Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Stock Up 2.1%

Shares of LOW stock traded up $5.3180 during trading hours on Tuesday, reaching $256.2080. The company's stock had a trading volume of 4,697,399 shares, compared to its average volume of 2,909,601. The firm's 50 day simple moving average is $227.78 and its 200-day simple moving average is $230.16. The company has a market capitalization of $143.59 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 2.37 and a beta of 0.89. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%.The company's revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.06 EPS. Lowe's Companies has set its FY 2025 guidance at 12.150-12.400 EPS. Sell-side analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were issued a dividend of $1.20 per share. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. Lowe's Companies's dividend payout ratio (DPR) is 39.77%.

Insider Buying and Selling at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's 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 sale, the executive vice president owned 31,898 shares of the company's stock, valued at $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LOW. Telsey Advisory Group restated an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a report on Wednesday, May 21st. DA Davidson reduced their price objective on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Stifel Nicolaus boosted 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. Truist Financial set a $264.00 price objective on Lowe's Companies and gave the stock a "buy" rating in a report on Thursday, May 22nd. Finally, KeyCorp upgraded Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price objective for the company in a report on Friday, April 25th. Sixteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Lowe's Companies currently has a consensus rating of "Moderate Buy" and a consensus target price of $271.68.

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.