Campbell Newman Asset Management Inc. Decreases Holdings in Lowe's Companies, Inc. $LOW

Key Points

• Campbell Newman Asset Management Inc. reduced its holdings in Lowe's Companies, Inc. by 3.7%, now owning 140,994 shares valued at approximately $31.3 million, making it the firm's 18th largest position.
• Several institutional investors, including Nuveen LLC and Pacer Advisors Inc., significantly increased their stakes in Lowe's, reflecting a growing interest with over 74% of the stock now owned by such investors.
• Research analysts have set new price targets for Lowe's stock, with the average target increased to $285.50, alongside a general rating of "Moderate Buy" from sixteen analysts, indicating positive market sentiment.

Campbell Newman Asset Management Inc. lowered its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,994 shares of the home improvement retailer's stock after selling 5,467 shares during the period. Lowe's Companies makes up approximately 2.5% of Campbell Newman Asset Management Inc.'s investment portfolio, making the stock its 18th biggest position. Campbell Newman Asset Management Inc.'s holdings in Lowe's Companies were worth $31,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LOW. Nuveen LLC purchased a new position in shares of Lowe's Companies in the 1st quarter worth approximately $681,215,000. Pacer Advisors Inc. lifted its position in 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 worth $475,339,000 after buying an additional 1,971,996 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Lowe's Companies by 1,048.5% during the first quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer's stock worth $172,527,000 after buying an additional 675,318 shares during the period. Wellington Management Group LLP increased its position in Lowe's Companies by 49.0% during 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 acquiring an additional 618,775 shares during the last quarter. Finally, Invesco Ltd. increased its position in Lowe's Companies by 10.6% during 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 acquiring an additional 501,154 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on LOW. Truist Financial lifted their price target on shares of Lowe's Companies from $264.00 to $283.00 and gave the stock a "buy" rating in a research note on Thursday, August 21st. Oppenheimer raised their price objective on shares of Lowe's Companies from $305.00 to $320.00 and gave the stock an "outperform" rating in a research note on Thursday, September 25th. Guggenheim reaffirmed a "buy" rating and set a $300.00 target price on shares of Lowe's Companies in a research note on Thursday, August 21st. Mizuho increased their price target on Lowe's Companies from $280.00 to $285.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Lowe's Companies from $280.00 to $283.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $285.50.

Insider Buying and Selling at Lowe's Companies

In other news, EVP Brandon J. Sink sold 8,192 shares of Lowe's Companies stock in a transaction on Friday, September 5th. The stock was sold at an average price of $268.58, for a total value of $2,200,207.36. Following the transaction, the executive vice president directly owned 21,603 shares in the company, valued at approximately $5,802,133.74. This trade represents a 27.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Juliette Williams Pryor sold 929 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the sale, the executive vice president owned 30,099 shares of the company's stock, 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. In the last three months, insiders sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is owned by corporate insiders.

Lowe's Companies Trading Down 1.5%

Shares of LOW stock opened at $253.35 on Tuesday. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01. The stock has a fifty day simple moving average of $252.25 and a two-hundred day simple moving average of $233.55. The stock has a market capitalization of $142.09 billion, a price-to-earnings ratio of 20.82, a P/E/G ratio of 2.38 and a beta of 0.87.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, beating the consensus estimate of $4.24 by $0.09. The firm had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. Lowe's Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The business's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Research analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Announces 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 given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio is presently 39.44%.

Lowe's Companies Company 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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