Lowe's Companies, Inc. $LOW Shares Purchased by Addenda Capital Inc.

Key Points

• Addenda Capital Inc. increased its stake in Lowe's Companies, Inc. by 38.6%, acquiring an additional 13,878 shares to bring its total holdings to 49,832 shares worth approximately $11 million.
• Insider selling occurred as two executive vice presidents sold a combined total of 52,002 shares in September, reducing their ownership significantly.
• Lowe’s shares recently opened at $257.18 and reported an earnings per share of $4.33 for the last quarter, beating analysts' expectations.

Addenda Capital Inc. increased its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 38.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,832 shares of the home improvement retailer's stock after acquiring an additional 13,878 shares during the quarter. Addenda Capital Inc.'s holdings in Lowe's Companies were worth $11,056,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in shares of Lowe's Companies during the first quarter valued at about $32,000. Inlight Wealth Management LLC acquired a new position in Lowe's Companies in the first quarter valued at approximately $36,000. IFS Advisors LLC boosted its position 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 valued at $37,000 after purchasing an additional 60 shares during the period. TruNorth Capital Management LLC acquired a new position in Lowe's Companies during the 1st quarter valued at approximately $38,000. Finally, JNBA Financial Advisors grew its stake in Lowe's Companies by 147.1% during the 1st quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer's stock worth $39,000 after buying an additional 100 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lowe's Companies news, EVP Brandon J. Sink sold 8,192 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the sale, the executive vice president directly owned 21,603 shares of the company's stock, valued at approximately $5,802,133.74. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the transaction, the executive vice president owned 66,566 shares in the company, valued at $18,145,891.60. The trade was a 39.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,931 shares of company stock valued at $24,945,752 in the last ninety days. Insiders own 0.27% of the company's stock.

Lowe's Companies Stock Up 0.6%

Shares of NYSE:LOW opened at $257.18 on Friday. The firm has a market capitalization of $144.23 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 2.38 and a beta of 0.87. The firm has a fifty day moving average of $251.61 and a two-hundred day moving average of $233.28. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (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 analysts' expectations of $23.99 billion. During the same period in the previous year, the company earned $4.10 earnings per share. The company'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. Equities research analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal 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 (DPR) is currently 39.44%.

Analyst Ratings Changes

LOW has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their price objective on Lowe's Companies from $240.00 to $265.00 and gave the stock a "hold" rating in a report on Monday, August 18th. Piper Sandler upped their price objective on shares of Lowe's Companies from $269.00 to $294.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. UBS Group raised their target price on shares of Lowe's Companies from $300.00 to $325.00 and gave the company a "buy" rating in a research note on Thursday, August 21st. Truist Financial upped their price target 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. Finally, DA Davidson raised their price objective on shares of Lowe's Companies from $240.00 to $266.00 and gave the company a "neutral" rating in a research note on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Lowe's Companies currently has a consensus rating of "Moderate Buy" and a consensus target price of $285.50.

Lowe's Companies 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.

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