Corebridge Financial Inc. Has $33.41 Million Stock Holdings in Lowe's Companies, Inc. $LOW

Key Points

• Corebridge Financial Inc. reduced its stake in Lowe's Companies by 3.9% after selling 5,768 shares, now owning 143,259 shares valued at approximately $33.4 million.
• CEO Marvin R. Ellison sold 40,000 shares of Lowe's stock for over $10.5 million, decreasing his ownership by 13.84%.
• Lowe's recently announced an increased quarterly dividend of $1.20 per share, up from $1.15, representing an annual yield of 1.8%.

Corebridge Financial Inc. lowered its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 143,259 shares of the home improvement retailer's stock after selling 5,768 shares during the quarter. Corebridge Financial Inc.'s holdings in Lowe's Companies were worth $33,412,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC acquired a new stake in Lowe's Companies in the fourth quarter valued at $25,000. Fairway Wealth LLC acquired a new stake in Lowe's Companies in the first quarter valued at $32,000. Orion Capital Management LLC acquired a new stake in shares of Lowe's Companies during the 4th quarter worth about $36,000. Inlight Wealth Management LLC acquired a new stake in shares of Lowe's Companies during the 1st quarter worth about $36,000. Finally, IFS Advisors LLC lifted its stake in shares of Lowe's Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Lowe's Companies from $280.00 to $283.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Citigroup cut their target price on shares of 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. Barclays set a $267.00 target price on shares of Lowe's Companies in a research note on Thursday, August 21st. Telsey Advisory Group restated an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a research note on Thursday, August 21st. Finally, Piper Sandler raised their target price on shares of Lowe's Companies from $269.00 to $294.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lowe's Companies currently has an average rating of "Moderate Buy" and an average price target of $284.13.

Lowe's Companies Trading Up 0.4%

LOW stock traded up $1.00 during mid-day trading on Friday, hitting $258.54. The stock had a trading volume of 2,176,535 shares, compared to its average volume of 2,712,529. Lowe's Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01. The firm has a market capitalization of $144.89 billion, a P/E ratio of 21.24, a P/E/G ratio of 2.39 and a beta of 0.89. The firm has a fifty day simple moving average of $233.78 and a 200 day simple moving average of $230.46.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its 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. Lowe's Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The firm had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same period last year, the firm earned $4.10 EPS. The business's quarterly 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 expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently declared 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 boost 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 payout ratio is presently 39.44%.

Insider Activity at Lowe's Companies

In related news, CEO Marvin R. Ellison sold 40,000 shares of Lowe's Companies stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the sale, the chief executive officer directly owned 249,043 shares of the company's stock, valued at approximately $65,772,256.30. The trade was a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Juliette Williams Pryor sold 929 shares of Lowe's Companies stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total transaction of $238,938.80. Following the sale, the executive vice president directly owned 30,099 shares in the company, 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. Insiders have sold a total of 42,059 shares of company stock worth $11,060,014 over the last ninety days. 0.27% of the stock is currently owned by insiders.

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.