Retirement Planning Co of New England Inc. Makes New Investment in Lowe's Companies, Inc. $LOW

Key Points

• Retirement Planning Co of New England Inc. purchased 17,675 shares of Lowe's Companies, valued at approximately $4.12 million, making it the firm's 7th largest position.
• CEO Marvin R. Ellison sold 40,000 shares for around $10.56 million, reducing his ownership by 13.84% to 249,043 shares valued at approximately $65.77 million.
• JPMorgan Chase & Co. and other analysts have set new price targets for Lowe's, with JPMorgan raising its target from $280 to $283 and Guggenheim setting a target of $300, indicating strong market interest.

Retirement Planning Co of New England Inc. acquired a new stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 17,675 shares of the home improvement retailer's stock, valued at approximately $4,122,000. Lowe's Companies comprises about 1.5% of Retirement Planning Co of New England Inc.'s investment portfolio, making the stock its 7th biggest position.

Other institutional investors also recently modified their holdings of the company. State of Alaska Department of Revenue boosted its stake in shares of Lowe's Companies by 1.2% in the 1st quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer's stock valued at $29,223,000 after purchasing an additional 1,470 shares during the last quarter. Aptus Capital Advisors LLC lifted its position in shares of Lowe's Companies by 14.0% during the 4th quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock valued at $26,236,000 after acquiring an additional 13,092 shares during the period. Larson Financial Group LLC lifted its position in shares of Lowe's Companies by 8.1% during the 1st quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer's stock valued at $3,860,000 after acquiring an additional 1,242 shares during the period. Advent Capital Management DE lifted its position in shares of Lowe's Companies by 20.0% during the 1st quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer's stock valued at $4,198,000 after acquiring an additional 3,000 shares during the period. Finally, Cornerstone Wealth Group LLC lifted its position in shares of Lowe's Companies by 12.6% during the 1st quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer's stock valued at $6,848,000 after acquiring an additional 3,295 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe's Companies Stock Performance

NYSE LOW traded up $3.85 during trading on Thursday, hitting $264.53. 2,196,115 shares of the company's stock traded hands, compared to its average volume of 2,695,152. The stock has a market capitalization of $148.35 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 2.39 and a beta of 0.87. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01. The business has a 50 day moving average of $237.06 and a 200-day moving average of $230.63.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings data 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 business had revenue of $23.96 billion for the quarter, compared to the consensus estimate of $23.99 billion. During the same period in the prior year, the firm earned $4.10 earnings per share. The company'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. On average, analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders 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 dividend yield of 0.0%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio is presently 39.44%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Lowe's Companies from $243.00 to $260.00 and gave the company a "sector perform" rating in a research report on Thursday, August 21st. Barclays set a $267.00 price target on shares of Lowe's Companies in a research note on Thursday, August 21st. Robert W. Baird boosted their price target on shares of Lowe's Companies from $285.00 to $295.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Guggenheim restated a "buy" rating and set a $300.00 price target on shares of Lowe's Companies in a research note on Thursday, August 21st. Finally, Citigroup decreased their price target on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. Sixteen 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's stock. According to MarketBeat, the company has an average 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 the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total value of $238,938.80. Following the sale, the executive vice president directly owned 30,099 shares of the company's stock, valued at approximately $7,741,462.80. This represents a 2.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 249,043 shares in the company, valued at approximately $65,772,256.30. The trade was a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company's stock.

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.