Nordea Investment Management AB Buys 64,416 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Nordea Investment Management AB increased its stake in Lowe's Companies by 17.9% during the second quarter, now owning 423,543 shares worth approximately $93.5 million.
• Several major institutional investors, including Vanguard Group and Invesco Ltd., have also raised their stakes in Lowe's, showcasing strong interest in the company.
• Lowe's recently reported a Q2 EPS of $4.33, slightly above analysts' estimates, and announced a quarterly dividend of $1.20 per share, scheduled for payment on November 5th.

Nordea Investment Management AB grew its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 17.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 423,543 shares of the home improvement retailer's stock after purchasing an additional 64,416 shares during the quarter. Nordea Investment Management AB owned approximately 0.08% of Lowe's Companies worth $93,544,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. increased its position in Lowe's Companies by 0.4% during the first quarter. Vanguard Group Inc. now owns 54,609,378 shares of the home improvement retailer's stock worth $12,736,545,000 after acquiring an additional 230,359 shares during the period. Invesco Ltd. increased its position in Lowe's Companies by 10.6% during the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock worth $1,214,448,000 after acquiring an additional 501,154 shares during the period. Goldman Sachs Group Inc. increased its position in Lowe's Companies by 6.9% during the first quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer's stock worth $1,192,213,000 after acquiring an additional 330,701 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Lowe's Companies by 6.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,779,120 shares of the home improvement retailer's stock worth $881,406,000 after buying an additional 225,964 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Lowe's Companies by 1.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,501,740 shares of the home improvement retailer's stock worth $816,711,000 after buying an additional 42,676 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on LOW. KeyCorp increased their price objective on shares of Lowe's Companies from $266.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Wells Fargo & Company increased their price objective on shares of Lowe's Companies from $260.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Royal Bank Of Canada increased their price objective on shares of Lowe's Companies from $243.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 21st. Citigroup reduced their price objective on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $305.00 price objective on shares of Lowe's Companies in a research note on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $282.91.

Insider Buying and Selling at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 929 shares of the firm's stock in a transaction that occurred on 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 transaction, the executive vice president owned 30,099 shares in the company, valued at $7,741,462.80. This trade represents a 2.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brandon J. Sink sold 8,192 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the completion of the transaction, the executive vice president owned 21,603 shares of the company's stock, valued at approximately $5,802,133.74. This trade represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,931 shares of company stock worth $24,945,752 in the last 90 days. Corporate insiders own 0.27% of the company's stock.

Lowe's Companies Trading Up 0.7%

LOW stock opened at $244.81 on Friday. The stock has a market capitalization of $137.30 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 2.27 and a beta of 0.88. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $282.70. The firm has a 50-day moving average price of $255.21 and a 200-day moving average price of $234.69.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, topping analysts' consensus estimates of $4.24 by $0.09. The firm 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 business's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, equities analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be issued 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 (DPR) is 39.44%.

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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