Lowe's Companies, Inc. $LOW Shares Bought by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has increased its stake in Lowe's Companies by 0.4%, now owning approximately $298 million worth of shares.
• Institutional investors collectively own 74.06% of Lowe's Companies, indicating strong institutional interest in the stock.
• Lowe's recently declared a quarterly dividend increase to $1.20 per share, raising its annual dividend yield to 1.9%.

Raymond James Financial Inc. grew its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,279,099 shares of the home improvement retailer's stock after purchasing an additional 5,053 shares during the period. Raymond James Financial Inc. owned approximately 0.23% of Lowe's Companies worth $298,324,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Lowe's Companies by 119.7% in the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock valued at $7,889,000 after buying an additional 17,413 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Lowe's Companies by 31.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock valued at $266,000 after buying an additional 259 shares during the period. Jump Financial LLC raised its holdings in shares of Lowe's Companies by 54.8% in the 4th quarter. Jump Financial LLC now owns 8,560 shares of the home improvement retailer's stock valued at $2,113,000 after buying an additional 3,032 shares during the period. Gamco Investors INC. ET AL raised its holdings in shares of Lowe's Companies by 7.8% in the 4th quarter. Gamco Investors INC. ET AL now owns 3,572 shares of the home improvement retailer's stock valued at $882,000 after buying an additional 257 shares during the period. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Lowe's Companies by 26.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 263,239 shares of the home improvement retailer's stock valued at $64,967,000 after buying an additional 55,446 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Guggenheim reiterated a "buy" rating and issued a $300.00 price objective on shares of Lowe's Companies in a report on Tuesday, July 22nd. Truist Financial set a $264.00 price target on Lowe's Companies and gave the stock a "buy" rating in a report on Thursday, May 22nd. Telsey Advisory Group restated an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a report on Wednesday, May 21st. Wells Fargo & Company cut their price target on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. Finally, Royal Bank Of Canada cut their price target on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a report on Thursday, May 22nd. Sixteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $271.68.

Lowe's Companies Price Performance

Shares of LOW traded up $5.3180 during mid-day trading on Tuesday, reaching $256.2080. The company's stock had a trading volume of 4,697,399 shares, compared to its average volume of 2,909,601. The stock has a market cap of $143.59 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 2.37 and a beta of 0.89. 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 moving average is $227.78 and its 200 day moving average is $230.16.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%.The business's revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.06 EPS. Lowe's Companies has set its FY 2025 guidance at 12.150-12.400 EPS. As a group, sell-side analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were given a $1.20 dividend. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. Lowe's Companies's payout ratio is currently 39.77%.

Insider Activity

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the sale, the executive vice president directly owned 31,898 shares of the company's stock, valued at $7,256,795. This represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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.