Northwestern Mutual Wealth Management Co. Boosts Stake in Lowe's Companies, Inc. $LOW

Key Points

• Northwestern Mutual Wealth Management Co. has increased its stake in Lowe's Companies, acquiring an additional 2,743 shares for a total holding of 62,023 shares worth approximately $14.5 million.
• Institutional investors now own 74.06% of Lowe's stock, with significant increases from several funds, including Pacer Advisors and GAMMA Investing, which boosted their holdings by 2,984.6% and 26,796.0% respectively during the first quarter.
• Lowe's Companies recently raised its quarterly dividend to $1.20 per share, up from $1.15, indicating a commitment to returning value to shareholders.

Northwestern Mutual Wealth Management Co. raised its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,023 shares of the home improvement retailer's stock after acquiring an additional 2,743 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Lowe's Companies were worth $14,465,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Lowe's Companies by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 54,609,378 shares of the home improvement retailer's stock valued at $12,736,545,000 after acquiring an additional 230,359 shares in the last quarter. Northern Trust Corp increased its stake in Lowe's Companies by 16.3% in the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after buying an additional 993,833 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Lowe's Companies by 10.6% during the 1st quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock valued at $1,214,448,000 after purchasing an additional 501,154 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Lowe's Companies by 6.9% in the 1st 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 acquiring an additional 330,701 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Lowe's Companies by 6.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer's stock valued at $1,242,793,000 after acquiring an additional 323,371 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 929 shares of Lowe's Companies stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the sale, the executive vice president owned 30,099 shares of the company's stock, valued at approximately $7,741,462.80. The trade was a 2.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of the business'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 sale, the chief executive officer directly owned 249,043 shares in the company, valued at $65,772,256.30. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,059 shares of company stock worth $11,060,014 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Lowe's Companies Price Performance

Shares of NYSE:LOW traded up $1.00 on Friday, reaching $258.54. The company's stock had a trading volume of 2,177,553 shares, compared to its average volume of 2,712,599. The stock's 50-day moving average is $233.78 and its two-hundred day moving average is $230.46. 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 capitalization of $144.89 billion, a P/E ratio of 21.24, a PEG ratio of 2.39 and a beta of 0.89.

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

Lowe's Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be issued a $0.012 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.0%. Lowe's Companies's dividend payout ratio is presently 39.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LOW. Guggenheim reaffirmed a "buy" rating and set a $300.00 target price on shares of Lowe's Companies in a research report on Thursday, August 21st. KeyCorp boosted their price objective on shares of Lowe's Companies from $266.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Telsey Advisory Group reissued an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a research note on Thursday, August 21st. Robert W. Baird upped their price target on shares of Lowe's Companies from $285.00 to $295.00 and gave the stock an "outperform" rating in a research report on Thursday, August 21st. Finally, Royal Bank Of Canada increased their price objective on shares of Lowe's Companies from $243.00 to $260.00 and gave the company a "sector perform" rating in a report on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $284.13.

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.