Lowe's Companies, Inc. $LOW Shares Purchased by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC increased its holdings in Lowe's Companies by 4.9%, totaling $31.52 million in stock, after acquiring an additional 6,351 shares in Q1.
• Analysts have raised their target prices for Lowe's Companies, with UBS Group setting a new target of $325.00 and Mizuho at $285.00, reflecting a generally positive outlook for the stock.
• Lowe's Companies reported earnings of $4.33 per share for the last quarter, exceeding estimates by $0.09, while setting its FY 2025 guidance at 12.200-12.450 EPS.

Eventide Asset Management LLC increased its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 135,296 shares of the home improvement retailer's stock after acquiring an additional 6,351 shares during the quarter. Eventide Asset Management LLC's holdings in Lowe's Companies were worth $31,522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new stake in Lowe's Companies in the 4th quarter worth $25,000. Fairway Wealth LLC purchased a new stake in Lowe's Companies in the 1st quarter worth $32,000. Orion Capital Management LLC purchased a new stake in Lowe's Companies in the 4th quarter worth $36,000. Inlight Wealth Management LLC acquired a new stake in Lowe's Companies during the 1st quarter worth $36,000. Finally, IFS Advisors LLC boosted its stake in 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 purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Trading Down 1.4%

LOW traded down $3.71 on Tuesday, hitting $269.31. The company had a trading volume of 1,339,142 shares, compared to its average volume of 2,712,658. The firm has a market cap of $151.04 billion, a P/E ratio of 22.09, a PEG ratio of 2.50 and a beta of 0.87. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01. The company's fifty day moving average price is $239.88 and its 200 day moving average price is $230.87.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) 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 analyst estimates 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 revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Cuts Dividend

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

Analyst Upgrades and Downgrades

LOW has been the topic of several recent research reports. Truist Financial lifted their target price 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. Stifel Nicolaus lifted their target price on shares of Lowe's Companies from $240.00 to $265.00 and gave the stock a "hold" rating in a research note on Monday, August 18th. Royal Bank Of Canada lifted their target price on shares of Lowe's Companies from $243.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 21st. 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. Finally, Barclays set a $267.00 price target on shares of Lowe's Companies in a research report on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Lowe's Companies has a consensus rating of "Moderate Buy" and a consensus target price of $284.13.

Insiders Place Their Bets

In related news, EVP Juliette Williams Pryor sold 929 shares of the company's 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 approximately $7,741,462.80. This represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the sale, the chief executive officer owned 249,043 shares in the company, valued at $65,772,256.30. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,121 shares of company stock worth $13,003,146 over the last three months. Company insiders own 0.27% of the company's stock.

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.