Mirae Asset Global Investments Co. Ltd. Purchases 9,677 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Mirae Asset Global Investments Co. Ltd. increased its holdings in Lowe's Companies by 13.8% during the 2nd quarter, now owning 79,761 shares worth approximately $17.7 million.
• CEO Marvin R. Ellison sold 40,000 shares of Lowe's stock for about $10.6 million, representing a 13.84% decrease in his holdings.
• Lowe's Companies announced a quarterly dividend of $1.20 per share to be paid on November 5th, with an annualized yield of 1.9%.

Mirae Asset Global Investments Co. Ltd. increased its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 13.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,761 shares of the home improvement retailer's stock after acquiring an additional 9,677 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Lowe's Companies were worth $17,697,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Vertex Planning Partners LLC raised its holdings in Lowe's Companies by 2.9% in the 1st quarter. Vertex Planning Partners LLC now owns 1,582 shares of the home improvement retailer's stock worth $369,000 after acquiring an additional 44 shares during the period. Quadcap Wealth Management LLC raised its stake in Lowe's Companies by 0.5% during the 1st quarter. Quadcap Wealth Management LLC now owns 9,386 shares of the home improvement retailer's stock valued at $2,189,000 after purchasing an additional 46 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its stake in Lowe's Companies by 0.8% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer's stock valued at $1,357,000 after purchasing an additional 47 shares during the last quarter. Fielder Capital Group LLC raised its stake in Lowe's Companies by 5.9% during the 1st quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer's stock valued at $202,000 after purchasing an additional 48 shares during the last quarter. Finally, Zullo Investment Group Inc. raised its stake in Lowe's Companies by 1.1% during the 1st quarter. Zullo Investment Group Inc. now owns 4,542 shares of the home improvement retailer's stock valued at $1,059,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 74.06% of the company's stock.

Insider Activity

In related news, 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 in the company, valued at $65,772,256.30. This trade represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Brandon J. Sink sold 8,192 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,931 shares of company stock worth $24,945,752. Company insiders own 0.27% of the company's stock.

Lowe's Companies Stock Performance

Shares of LOW stock opened at $246.24 on Friday. Lowe's Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $287.01. The stock has a market cap of $138.10 billion, a price-to-earnings ratio of 20.23, a P/E/G ratio of 2.28 and a beta of 0.88. The firm has a fifty day moving average of $253.95 and a 200-day moving average of $234.14.

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

Lowe's Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. Lowe's Companies's dividend payout ratio (DPR) is 39.44%.

Analyst Upgrades and Downgrades

LOW has been the subject of several research analyst reports. Sanford C. Bernstein upped their target price on shares of Lowe's Companies from $266.00 to $279.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Gordon Haskett upgraded shares of Lowe's Companies to a "hold" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. upped their target price on shares of Lowe's Companies from $280.00 to $283.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Royal Bank Of Canada upped their target price on shares of Lowe's Companies from $243.00 to $260.00 and gave the company a "sector perform" rating in a research note on Thursday, August 21st. Finally, Oppenheimer upped their target price on shares of Lowe's Companies from $305.00 to $320.00 and gave the company an "outperform" rating in a research note on Thursday, September 25th. Seventeen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Lowe's Companies has a consensus rating of "Moderate Buy" and a consensus price target of $285.50.

Lowe's Companies Company 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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