Gradient Investments LLC Boosts Stock Position in Lowe's Companies, Inc. $LOW

Key Points

• Gradient Investments LLC increased its position in Lowe's Companies by 18.3% in the 2nd quarter, now holding 137,054 shares valued at approximately $30.4 million.
• Insider transactions showed significant sell-offs, with EVP Brandon J. Sink and EVP Joseph Michael Mcfarland reducing their stakes by 27.49% and 39.69% respectively.
• Analysts are optimistic, with multiple brokerages raising their price targets for Lowe's, including Wells Fargo which set a new target of $300, while the consensus target is now around $284.13.

Gradient Investments LLC increased its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 18.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 137,054 shares of the home improvement retailer's stock after purchasing an additional 21,200 shares during the period. Gradient Investments LLC's holdings in Lowe's Companies were worth $30,408,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Nuveen LLC purchased a new stake in shares of Lowe's Companies during the first quarter valued at approximately $681,215,000. Pacer Advisors Inc. lifted 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 worth $475,339,000 after acquiring an additional 1,971,996 shares during the period. GAMMA Investing LLC raised its holdings 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 worth $386,540,000 after purchasing an additional 1,651,170 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings 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 worth $172,527,000 after purchasing an additional 675,318 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Lowe's Companies in the fourth quarter worth $159,029,000. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Truist Financial increased their price objective on Lowe's Companies from $264.00 to $283.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Gordon Haskett upgraded Lowe's Companies to a "hold" rating in a report on Wednesday, August 13th. Robert W. Baird increased their price objective on Lowe's Companies from $285.00 to $295.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Wells Fargo & Company raised their price target on Lowe's Companies from $260.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Finally, Sanford C. Bernstein raised their price target on Lowe's Companies from $266.00 to $279.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Seventeen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Lowe's Companies currently has a consensus rating of "Moderate Buy" and an average target price of $285.08.

Lowe's Companies Price Performance

NYSE LOW traded down $1.84 during trading hours on Friday, hitting $265.73. The company's stock had a trading volume of 831,803 shares, compared to its average volume of 2,699,896. 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 simple moving average is $246.80 and its two-hundred day simple moving average is $232.46. The company has a market cap of $149.03 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 2.48 and a beta of 0.87.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, topping the consensus estimate 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 company had revenue of $23.96 billion during the quarter, compared to the consensus estimate of $23.99 billion. During the same period last year, the company earned $4.10 EPS. Lowe's Companies's revenue for the quarter was up 1.6% on a year-over-year basis. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, research analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share 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 given a $0.012 dividend. This represents a $0.05 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio (DPR) is presently 39.44%.

Insider Transactions at Lowe's Companies

In other Lowe's Companies news, EVP Brandon J. Sink sold 8,192 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $5,802,133.74. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marvin R. Ellison sold 40,000 shares of the firm's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total value of $10,564,000.00. Following the completion of the transaction, the chief executive officer directly 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. Over the last three months, insiders sold 92,931 shares of company stock valued at $24,945,752. Company insiders own 0.27% of the company's stock.

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.