SCS Capital Management LLC Makes New $714,000 Investment in Lowe's Companies, Inc. $LOW

Key Points

• SCS Capital Management LLC has made a new investment of $714,000 in Lowe's Companies, acquiring 3,060 shares of stock.
• Lowe's reported a quarterly EPS of $4.33, exceeding analysts' expectations, while the company's revenue for the quarter was $23.96 billion despite slight expectations miss.
• The company recently announced a dividend cut, with the quarterly dividend set at $0.012, reflecting a low annualized yield of 0.0%.

SCS Capital Management LLC bought a new position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 3,060 shares of the home improvement retailer's stock, valued at approximately $714,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wood Tarver Financial Group LLC acquired a new stake in shares of Lowe's Companies in the 4th quarter worth $25,000. Fairway Wealth LLC acquired a new stake in shares of Lowe's Companies in the 1st quarter worth $32,000. Orion Capital Management LLC acquired a new stake in shares of Lowe's Companies in the 4th quarter worth $36,000. Inlight Wealth Management LLC acquired a new stake in shares of Lowe's Companies in the 1st quarter worth $36,000. Finally, IFS Advisors LLC increased 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 acquiring an additional 60 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe's Companies Trading Down 0.9%

Shares of NYSE LOW opened at $266.53 on Thursday. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01. The stock has a fifty day simple moving average of $241.49 and a 200-day simple moving average of $231.38. The stock has a market capitalization of $149.48 billion, a PE ratio of 21.90, a PEG ratio of 2.49 and a beta of 0.87.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, beating analysts' consensus estimates of $4.24 by $0.09. Lowe's Companies had a negative return on equity of 52.02% and a net margin of 8.20%.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 previous year, the firm posted $4.10 earnings per share. The company's revenue was up 1.6% on a year-over-year basis. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, equities analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be paid a $0.012 dividend. This represents a $0.05 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Wednesday, October 22nd. Lowe's Companies's dividend payout ratio (DPR) is presently 39.44%.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of recent research reports. Royal Bank Of Canada raised their target price on Lowe's Companies from $243.00 to $260.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 21st. Robert W. Baird upped their price target on Lowe's Companies from $285.00 to $295.00 and gave the company an "outperform" rating in a research note on Thursday, August 21st. Piper Sandler upped their price target on Lowe's Companies from $269.00 to $294.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Citigroup decreased their price target 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. Finally, Wells Fargo & Company upped their price target on Lowe's Companies from $260.00 to $300.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Lowe's Companies currently has an average rating of "Moderate Buy" and an average target price of $284.13.

Insider Activity

In other news, EVP Brandon J. Sink sold 8,192 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $268.58, for a total value of $2,200,207.36. Following the sale, the executive vice president directly owned 21,603 shares in the company, valued at approximately $5,802,133.74. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Juliette Williams Pryor sold 929 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total value of $238,938.80. Following the completion of 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 49,121 shares of company stock worth $13,003,146. Corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.