Caxton Associates LLP Purchases New Holdings in Lowe's Companies, Inc. $LOW

Key Points

• Caxton Associates LLP has acquired a new stake in Lowe's Companies, purchasing 2,939 shares valued at approximately $685,000 in the first quarter.
• Lowe's reported earnings of $4.33 per share for its last quarter, beating estimates but with revenues slightly under expectations at $23.96 billion.
• The company announced a dividend of $0.012 per share, which results in a minimal annualized yield of 0.0%.

Caxton Associates LLP purchased a new stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,939 shares of the home improvement retailer's stock, valued at approximately $685,000.

A number of other hedge funds and other institutional investors have also modified their holdings of LOW. Nuveen LLC acquired 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 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 acquiring an additional 1,971,996 shares during the last quarter. GAMMA Investing LLC boosted its stake in Lowe's Companies by 26,796.0% in the first quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer's stock valued at $386,540,000 after acquiring an additional 1,651,170 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in 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 acquiring an additional 675,318 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Lowe's Companies in the fourth quarter valued at approximately $159,029,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Stock Down 0.9%

Shares of NYSE LOW opened at $266.53 on Thursday. The company's fifty day moving average is $241.49 and its 200-day moving average is $231.38. The stock has a market cap of $149.48 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 2.49 and a beta of 0.87. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01.

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 earnings per share for the quarter, topping analysts' consensus estimates of $4.24 by $0.09. The company had revenue of $23.96 billion for the quarter, compared to analysts' expectations of $23.99 billion. Lowe's Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The business's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period 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. On average, research analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be issued a dividend of $0.012 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio is 39.44%.

Insiders Place Their Bets

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 929 shares of the stock in a transaction dated 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 owned 30,099 shares in the company, valued at approximately $7,741,462.80. This represents a 2.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brandon J. Sink sold 8,192 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the transaction, the executive vice president directly owned 21,603 shares of the company's stock, valued at $5,802,133.74. This represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,121 shares of company stock worth $13,003,146. Corporate insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LOW. JPMorgan Chase & Co. raised their price objective on shares of Lowe's Companies from $280.00 to $283.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Citigroup reduced their price objective on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Telsey Advisory Group reiterated an "outperform" rating and issued a $305.00 price target on shares of Lowe's Companies in a research report on Thursday, August 21st. Barclays set a $267.00 price target on shares of Lowe's Companies in a research report on Thursday, August 21st. Finally, Stifel Nicolaus increased their price target on shares of Lowe's Companies from $240.00 to $265.00 and gave the company a "hold" rating in a research report on Monday, August 18th. Sixteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $284.13.

About Lowe's Companies

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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