MYDA Advisors LLC Acquires New Shares in Lowe's Companies, Inc. $LOW

Key Points

• MYDA Advisors LLC has acquired a new stake in Lowe's Companies, purchasing 4,000 shares valued at approximately $933,000, as detailed in their recent SEC filing.
• Several institutional investors have increased their stakes in Lowe's, with State of Alaska Department of Revenue and Aptus Capital Advisors LLC notably boosting their holdings during the first quarter.
• Lowe's announced a quarterly dividend increase to $1.20 per share, reflecting a commitment to returning value to shareholders, with an annualized yield of 1.9%.

MYDA Advisors LLC purchased a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,000 shares of the home improvement retailer's stock, valued at approximately $933,000.

Other institutional investors and hedge funds have also modified their holdings of the company. State of Alaska Department of Revenue grew its holdings in Lowe's Companies by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer's stock valued at $29,223,000 after buying an additional 1,470 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in Lowe's Companies by 14.0% during the 4th quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock valued at $26,236,000 after purchasing an additional 13,092 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Lowe's Companies by 8.1% in the 1st quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer's stock valued at $3,860,000 after purchasing an additional 1,242 shares in the last quarter. Advent Capital Management DE grew its stake in Lowe's Companies by 20.0% in the first quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer's stock worth $4,198,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Cornerstone Wealth Group LLC increased its holdings in Lowe's Companies by 12.6% in the first quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer's stock valued at $6,848,000 after buying an additional 3,295 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Insiders Place Their Bets

In other Lowe's Companies news, CEO Marvin R. Ellison sold 40,000 shares of the company's 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 transaction, the chief executive officer owned 249,043 shares in the company, valued at approximately $65,772,256.30. This represents a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the transaction, the executive vice president owned 31,898 shares in the company, valued at $7,256,795. This trade represents a 3.42% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,059 shares of company stock worth $11,060,014. Insiders own 0.27% of the company's stock.

Lowe's Companies Stock Performance

LOW traded up $1.00 during mid-day trading on Friday, reaching $258.54. 2,177,553 shares of the stock were exchanged, compared to its average volume of 3,220,431. The company has a 50 day moving average price of $234.70 and a two-hundred day moving average price of $230.34. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01. The stock has a market capitalization of $144.89 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 2.39 and a beta of 0.89.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $23.96 billion for the quarter, compared to analysts' expectations of $23.99 billion. Lowe's Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $4.10 EPS. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 EPS 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. Investors of record on Wednesday, October 22nd will be paid a $0.012 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.0%. Lowe's Companies's payout ratio is 39.44%.

Analysts Set New Price Targets

LOW has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price objective on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Guggenheim reissued a "buy" rating and set a $300.00 target price on shares of Lowe's Companies in a research report on Thursday, August 21st. Sanford C. Bernstein increased 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. DA Davidson raised their price target on shares of Lowe's Companies from $240.00 to $266.00 and gave the company a "neutral" rating in a report on Thursday, August 21st. Finally, UBS Group lifted their price target on shares of Lowe's Companies from $300.00 to $325.00 and gave the stock a "buy" rating in a research report 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $284.13.

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.