Rafferty Asset Management LLC Has $18.09 Million Holdings in Lowe's Companies, Inc. $LOW

Key Points

• Rafferty Asset Management LLC has decreased its holdings in Lowe's Companies by 13.6%, now owning 77,567 shares valued at approximately $18.09 million.
• Lowe's Companies reported earnings of $4.33 per share, surpassing expectations, and posted a revenue of $23.96 billion for the recent quarter.
• The company recently increased its quarterly dividend from $1.15 to $1.20 per share, yielding an annualized dividend of $4.80.

Rafferty Asset Management LLC lowered its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,567 shares of the home improvement retailer's stock after selling 12,217 shares during the quarter. Rafferty Asset Management LLC's holdings in Lowe's Companies were worth $18,091,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Lowe's Companies by 0.4% in the first quarter. Vanguard Group Inc. now owns 54,609,378 shares of the home improvement retailer's stock valued at $12,736,545,000 after buying an additional 230,359 shares in the last quarter. Invesco Ltd. raised its holdings in shares of 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. lifted its position in 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 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 worth $1,242,793,000 after purchasing an additional 323,371 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Lowe's Companies by 6.4% during the 1st 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 purchasing an additional 225,964 shares in the last quarter. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Down 0.2%

Shares of Lowe's Companies stock opened at $258.42 on Wednesday. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01. The business's 50 day moving average is $231.88 and its 200-day moving average is $230.26. The stock has a market cap of $144.83 billion, a P/E ratio of 21.23, a P/E/G ratio of 2.40 and a beta of 0.89.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, beating the consensus estimate 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 was up 1.6% on a year-over-year basis. During the same period last year, the business earned $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, sell-side analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were paid a dividend of $1.20 per share. The ex-dividend date was Wednesday, July 23rd. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is presently 39.44%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on LOW shares. Royal Bank Of Canada boosted their price target on Lowe's Companies from $243.00 to $260.00 and gave the company a "sector perform" rating in a report on Thursday, August 21st. Gordon Haskett upgraded Lowe's Companies to a "hold" rating in a research note on Wednesday, August 13th. Mizuho reaffirmed an "outperform" rating and set a $280.00 price target on shares of Lowe's Companies in a research note on Friday, June 13th. Robert W. Baird lifted their price objective on shares of Lowe's Companies from $285.00 to $295.00 and gave the company an "outperform" rating in a report on Thursday, August 21st. Finally, Sanford C. Bernstein increased their target price on shares of Lowe's Companies from $266.00 to $279.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $283.92.

Insider Transactions at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the sale, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of Lowe's Companies stock in a transaction dated 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 transaction, the chief executive officer owned 249,043 shares of the company's stock, valued at $65,772,256.30. The trade was a 13.84% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by corporate insiders.

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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