Redwood Investment Management LLC Makes New $1.51 Million Investment in Lowe's Companies, Inc. $LOW

Key Points

• Redwood Investment Management LLC has made a new investment in Lowe's Companies, acquiring approximately $1.51 million worth of shares in the company.
• Wall Street analysts show optimism for Lowe's Companies with multiple upgrades and a consensus target price of $283.92.
• Lowe's Companies recently increased its quarterly dividend from $1.15 to $1.20 per share, reflecting a growing commitment to shareholder returns.

Redwood Investment Management LLC bought a new stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 6,451 shares of the home improvement retailer's stock, valued at approximately $1,505,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wood Tarver Financial Group LLC purchased a new stake in Lowe's Companies during the fourth quarter valued at $25,000. Fairway Wealth LLC bought a new stake in shares of Lowe's Companies during the 1st quarter valued at about $32,000. Orion Capital Management LLC purchased a new stake in shares of Lowe's Companies during the 4th quarter valued at about $36,000. Inlight Wealth Management LLC purchased a new stake in shares of Lowe's Companies during the 1st quarter valued at about $36,000. Finally, IFS Advisors LLC lifted its stake in shares of Lowe's Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 60 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LOW has been the subject of several recent research reports. Sanford C. Bernstein boosted 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 report on Thursday, August 21st. Telsey Advisory Group reiterated an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research note on Thursday, August 21st. Wells Fargo & Company upped their price objective on Lowe's Companies from $260.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. DA Davidson raised their target price on Lowe's Companies from $240.00 to $266.00 and gave the stock a "neutral" rating in a report on Thursday, August 21st. Finally, Piper Sandler lifted their target price on Lowe's Companies from $269.00 to $294.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Lowe's Companies presently has an average rating of "Moderate Buy" and an average target price of $283.92.

Lowe's Companies Stock Down 0.2%

NYSE:LOW opened at $258.42 on Wednesday. The business's 50-day simple moving average is $231.88 and its two-hundred day simple moving average is $230.26. 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 cap of $144.83 billion, a PE 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 (EPS) for the quarter, topping the consensus estimate 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 negative return on equity of 52.02% and a net margin of 8.20%.The firm's revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Sell-side analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were issued a dividend of $1.20 per share. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. Lowe's Companies's payout ratio is 39.44%.

Insider Activity at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the transaction, the executive vice president owned 31,898 shares of the company's stock, valued at approximately $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marvin R. Ellison sold 40,000 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was 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 of the company's stock, valued at approximately $65,772,256.30. This represents a 13.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company's stock.

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.

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