Bahl & Gaynor Inc. Raises Position in Lowe's Companies, Inc. $LOW

Key Points

• Bahl & Gaynor Inc. increased its stake in Lowe's Companies, Inc. by 2.6%, owning 42,562 shares valued at approximately $9.93 million after purchasing an additional 1,081 shares.
• Lowe's reported $4.33 EPS for the latest quarter, exceeding analyst expectations, and recorded a revenue of $23.96 billion, slightly below estimates.
• The company increased its quarterly dividend to $1.20 per share, with an annualized yield of 1.8%, showcasing a commitment to returning value to shareholders.

Bahl & Gaynor Inc. increased its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,562 shares of the home improvement retailer's stock after purchasing an additional 1,081 shares during the quarter. Bahl & Gaynor Inc.'s holdings in Lowe's Companies were worth $9,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LOW. Nuveen LLC acquired a new stake in Lowe's Companies in the first quarter valued at $681,215,000. Pacer Advisors Inc. increased its holdings 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 valued at $475,339,000 after purchasing an additional 1,971,996 shares during the period. GAMMA Investing LLC increased 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 valued at $386,540,000 after purchasing an additional 1,651,170 shares during the period. Northern Trust Corp increased its holdings in Lowe's Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after purchasing an additional 993,833 shares during the period. Finally, Assenagon Asset Management S.A. increased 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 valued at $172,527,000 after purchasing an additional 675,318 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe's Companies Trading Down 0.4%

Shares of LOW traded down $1.02 on Thursday, reaching $257.65. The company's stock had a trading volume of 1,771,443 shares, compared to its average volume of 2,711,083. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01. The stock has a market capitalization of $144.40 billion, a PE ratio of 21.17, a PEG ratio of 2.39 and a beta of 0.89. The firm has a fifty day moving average of $232.84 and a 200-day moving average of $230.46.

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 for the quarter, topping 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 company had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same quarter in the prior year, the business posted $4.10 EPS. 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 anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were issued a $1.20 dividend. The ex-dividend date was Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is currently 39.44%.

Analyst Ratings Changes

A number of analysts have commented on LOW shares. Piper Sandler upped their price target on shares of Lowe's Companies from $269.00 to $294.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Sanford C. Bernstein upped their price target on shares of Lowe's Companies from $266.00 to $279.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Barclays set a $267.00 price target on shares of Lowe's Companies in a research report on Thursday, August 21st. Gordon Haskett raised shares of Lowe's Companies to a "hold" rating in a research report on Wednesday, August 13th. Finally, Guggenheim reaffirmed a "buy" rating and set a $300.00 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 issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $283.92.

Insider Transactions at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 929 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total value of $238,938.80. Following the completion of the sale, the executive vice president owned 30,099 shares in the company, valued at approximately $7,741,462.80. This trade represents a 2.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 249,043 shares of the company's stock, valued at approximately $65,772,256.30. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,059 shares of company stock worth $11,060,014 in the last 90 days. 0.27% of the stock is currently owned by company insiders.

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.