Lowe's Companies, Inc. $LOW Shares Purchased by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners acquired a 6.9% increase in their holdings of Lowe's Companies, totaling 688,305 shares valued at approximately $160.5 million as of the end of the first quarter.
• Lowe's Companies reported $4.33 EPS for the recent quarter, beating analysts' expectations, but experienced a slight revenue miss with $23.96 billion compared to $23.99 billion forecasted.
• The company announced a quarterly dividend of $0.012 per share, indicating a 0.0% yield, as it adjusts its financial strategies amid fluctuating earnings.

Adage Capital Partners GP L.L.C. lifted its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 6.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 688,305 shares of the home improvement retailer's stock after acquiring an additional 44,400 shares during the period. Adage Capital Partners GP L.L.C. owned 0.12% of Lowe's Companies worth $160,533,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alkeon Capital Management LLC boosted its holdings in shares of Lowe's Companies by 44.4% in the 1st quarter. Alkeon Capital Management LLC now owns 648,594 shares of the home improvement retailer's stock valued at $151,272,000 after buying an additional 199,516 shares in the last quarter. Rench Wealth Management Inc. raised its stake in Lowe's Companies by 1.9% during the 1st quarter. Rench Wealth Management Inc. now owns 19,256 shares of the home improvement retailer's stock worth $4,491,000 after acquiring an additional 363 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its position in Lowe's Companies by 15.0% in the first quarter. Federation des caisses Desjardins du Quebec now owns 22,871 shares of the home improvement retailer's stock valued at $5,335,000 after acquiring an additional 2,978 shares during the last quarter. First Manhattan CO. LLC. boosted its stake in Lowe's Companies by 0.6% in the first quarter. First Manhattan CO. LLC. now owns 1,407,893 shares of the home improvement retailer's stock valued at $328,363,000 after acquiring an additional 8,436 shares in the last quarter. Finally, GW Henssler & Associates Ltd. purchased a new position in shares of Lowe's Companies during the first quarter worth about $310,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Trading Up 2.1%

Shares of NYSE:LOW traded up $5.43 during midday trading on Friday, hitting $270.00. The stock had a trading volume of 4,488,216 shares, compared to its average volume of 2,892,729. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01. The stock has a 50 day moving average price of $237.93 and a two-hundred day moving average price of $230.72. The company has a market capitalization of $151.42 billion, a PE ratio of 22.19, a P/E/G ratio of 2.45 and a beta of 0.87.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $23.99 billion. During the same quarter last year, the firm earned $4.10 earnings per share. 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 expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be paid a $0.012 dividend. The ex-dividend date 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 (DPR) is 39.44%.

Analyst Ratings Changes

A number of analysts recently issued reports on LOW shares. Robert W. Baird upped their target price on Lowe's Companies from $285.00 to $295.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. UBS Group increased their price objective on Lowe's Companies from $300.00 to $325.00 and gave the company a "buy" rating in a report on Thursday, August 21st. 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 report on Thursday, August 21st. Guggenheim reaffirmed a "buy" rating and issued a $300.00 target price on shares of Lowe's Companies in a report on Thursday, August 21st. Finally, KeyCorp raised their price objective on shares of Lowe's Companies from $266.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Sixteen investment 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, Lowe's Companies currently has a consensus rating of "Moderate Buy" and a consensus price target of $284.13.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 929 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total transaction of $238,938.80. Following the sale, the executive vice president owned 30,099 shares of the company's stock, valued at $7,741,462.80. The trade was a 2.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marvin R. Ellison sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 of the company's stock, 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. 0.27% of the stock is owned by company insiders.

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.