Canoe Financial LP Grows Position in Lowe's Companies, Inc. $LOW

Key Points

• Canoe Financial LP increased its holdings in Lowe's Companies by 31.7%, owning 91,024 shares valued at approximately $20.20 million at the end of the second quarter.
• Institutional investors currently own 74.06% of Lowe's stock, with notable increases in holdings from firms such as Vanguard, Invesco, and Goldman Sachs.
• Lowe's Companies reported a 4.33 EPS for the last quarter, slightly beating analysts' expectations, but also declared a decrease in its dividend to $0.012 per share.

Canoe Financial LP lifted its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 31.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,024 shares of the home improvement retailer's stock after acquiring an additional 21,900 shares during the period. Canoe Financial LP's holdings in Lowe's Companies were worth $20,195,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LOW. Brighton Jones LLC lifted its holdings in shares of Lowe's Companies by 119.7% during the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock valued at $7,889,000 after acquiring an additional 17,413 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Lowe's Companies by 31.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock valued at $266,000 after buying an additional 259 shares in the last quarter. State of Wyoming increased its stake in shares of Lowe's Companies by 677.1% in the fourth quarter. State of Wyoming now owns 1,088 shares of the home improvement retailer's stock valued at $269,000 after buying an additional 948 shares in the last quarter. Two Sigma Advisers LP increased its stake in shares of Lowe's Companies by 24.7% in the fourth quarter. Two Sigma Advisers LP now owns 42,900 shares of the home improvement retailer's stock valued at $10,588,000 after buying an additional 8,500 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of Lowe's Companies in the fourth quarter valued at $8,408,000. 74.06% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related 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 transaction of $11,942,606.00. Following the sale, the executive vice president directly owned 66,566 shares in the company, valued at approximately $18,145,891.60. This trade represents a 39.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Juliette Williams Pryor sold 929 shares of Lowe's Companies stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total value of $238,938.80. Following the completion of the transaction, the executive vice president owned 30,099 shares of the company's stock, valued at approximately $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. Over the last ninety days, insiders sold 92,931 shares of company stock worth $24,945,752. Company insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

LOW has been the subject of a number of research reports. Citigroup lowered their target price on Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Robert W. Baird raised their target price on Lowe's Companies from $285.00 to $295.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. KeyCorp raised their target price on Lowe's Companies from $266.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Mizuho raised their target price on Lowe's Companies from $280.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Finally, UBS Group raised their target price 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. Seventeen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $285.08.

Lowe's Companies Stock Performance

NYSE LOW traded down $1.89 during trading on Friday, hitting $265.68. The stock had a trading volume of 4,079,028 shares, compared to its average volume of 2,502,386. The company has a market capitalization of $149.00 billion, a PE ratio of 21.83, a P/E/G ratio of 2.45 and a beta of 0.87. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.01. The company's 50-day moving average price is $247.63 and its two-hundred day moving average price is $232.57.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its 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 business 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 firm earned $4.10 EPS. The firm's revenue 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, equities analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Cuts Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $0.05 annualized dividend and a dividend yield of 0.0%. 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.