Panagora Asset Management Inc. Increases Stake in Lowe's Companies, Inc. $LOW

Key Points

• Panagora Asset Management Inc. increased its position in Lowe's Companies by 90.8%, acquiring an additional 6,606 shares, bringing its total holdings to 13,884 shares valued at approximately $3.24 million.
• Investment analysts remain bullish on Lowe's, with several raising their target prices, including Truist Financial, which set a new target of $283.00 while maintaining a "buy" rating.
• Lowe's reported earnings of $4.33 per share for the last quarter, exceeding estimates, although revenue increased only 1.6% year-over-year to $23.96 billion.

Panagora Asset Management Inc. raised its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 90.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,884 shares of the home improvement retailer's stock after acquiring an additional 6,606 shares during the quarter. Panagora Asset Management Inc.'s holdings in Lowe's Companies were worth $3,238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in LOW. Wood Tarver Financial Group LLC purchased a new position in Lowe's Companies in the 4th quarter valued at $25,000. Fairway Wealth LLC acquired a new stake in shares of Lowe's Companies in the first quarter valued at about $32,000. Orion Capital Management LLC purchased a new position in shares of Lowe's Companies in the fourth quarter worth about $36,000. Inlight Wealth Management LLC acquired a new position in Lowe's Companies during the first quarter worth about $36,000. Finally, IFS Advisors LLC grew its stake in Lowe's Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock valued at $37,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Price Performance

Shares of NYSE LOW traded up $5.43 during midday trading on Friday, hitting $270.00. The company's stock had a trading volume of 4,488,216 shares, compared to its average volume of 2,710,722. The firm has a market capitalization of $151.42 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 2.41 and a beta of 0.87. The business's fifty day simple moving average is $237.93 and its two-hundred day simple moving average is $230.72. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, beating the consensus estimate 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 company had revenue of $23.96 billion during the quarter, compared to analysts' expectations of $23.99 billion. During the same quarter last year, the company posted $4.10 EPS. The firm'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. Analysts anticipate 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. Shareholders of record on Wednesday, October 22nd will be paid a $0.012 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $0.05 dividend on an annualized basis and a yield of 0.0%. Lowe's Companies's dividend payout ratio (DPR) is currently 39.44%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LOW. Truist Financial boosted their target price on Lowe's Companies from $264.00 to $283.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Gordon Haskett upgraded Lowe's Companies to a "hold" rating in a research report on Wednesday, August 13th. Citigroup lowered their price objective on 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. Mizuho lifted their price target on Lowe's Companies from $280.00 to $285.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Finally, Stifel Nicolaus boosted their target price on shares of Lowe's Companies from $240.00 to $265.00 and gave the company a "hold" rating in a report on Monday, August 18th. Sixteen 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $284.13.

Insider Transactions at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 929 shares of Lowe's Companies stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total transaction of $238,938.80. Following the sale, the executive vice president owned 30,099 shares in the company, valued at approximately $7,741,462.80. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marvin R. Ellison sold 40,000 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $65,772,256.30. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is owned by 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.