Lowe's Companies, Inc. $LOW Stock Holdings Increased by Mattson Financial Services LLC

Key Points

• Mattson Financial Services LLC increased its holdings in Lowe's by 19.4%, owning 13,926 shares worth approximately $3.09 million following the acquisition of additional shares in the second quarter.
• Several institutional investors, including Nuveen LLC and Wellington Management Group, have significantly increased their stakes in Lowe's, with over 74% of the stock owned by institutional investors.
• Lowe's announced a quarterly dividend of $1.20, scheduled for payment on November 5th, representing a 2.0% yield, with a payout ratio of 39.44%.

Mattson Financial Services LLC boosted its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 19.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,926 shares of the home improvement retailer's stock after buying an additional 2,267 shares during the quarter. Mattson Financial Services LLC's holdings in Lowe's Companies were worth $3,090,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LOW. Nuveen LLC bought a new stake in Lowe's Companies in the first quarter valued at about $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 buying an additional 1,971,996 shares during the last quarter. Wellington Management Group LLP increased its holdings in Lowe's Companies by 49.0% in the first quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer's stock valued at $438,751,000 after buying an additional 618,775 shares during the last quarter. Invesco Ltd. increased its holdings in Lowe's Companies by 10.6% in the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock valued at $1,214,448,000 after buying an additional 501,154 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Lowe's Companies by 6.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer's stock valued at $1,192,213,000 after buying an additional 330,701 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LOW has been the subject of several research analyst reports. Truist Financial boosted their price objective on Lowe's Companies from $264.00 to $283.00 and gave the company a "buy" rating in a report on Thursday, August 21st. Evercore ISI lowered their target price on Lowe's Companies from $250.00 to $245.00 and set an "in-line" rating for the company in a report on Tuesday. DA Davidson upped their target price on Lowe's Companies from $240.00 to $266.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. Guggenheim reaffirmed a "buy" rating and set a $300.00 target price on shares of Lowe's Companies in a report on Thursday, August 21st. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Lowe's Companies in a report on Wednesday, October 8th. Sixteen equities 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $282.91.

Lowe's Companies Trading Up 0.7%

Shares of NYSE LOW opened at $243.11 on Friday. The stock has a 50 day simple moving average of $255.14 and a 200-day simple moving average of $234.62. The company has a market cap of $136.34 billion, a PE ratio of 19.98, a P/E/G ratio of 2.24 and a beta of 0.88. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $285.24.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.09. The business had revenue of $23.96 billion during the quarter, compared to the consensus estimate of $23.99 billion. Lowe's Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The business's revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Sell-side analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Dividend Announcement

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 $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio is 39.44%.

Insider Transactions at Lowe's Companies

In other Lowe's Companies news, 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 value of $10,564,000.00. Following the completion of the sale, the chief executive officer directly owned 249,043 shares in the company, valued at $65,772,256.30. This represents a 13.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Brandon J. Sink sold 8,192 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 21,603 shares of the company's stock, valued at $5,802,133.74. This trade represents a 27.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is currently 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.

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