Sumitomo Mitsui Trust Group Inc. Grows Stock Position in Lowe's Companies, Inc. $LOW

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its stake in Lowe's Companies by 1.6%, holding approximately 1,319,887 shares valued at $292.8 million after acquiring additional shares in the 2nd quarter.
• Multiple hedge funds, including Vanguard and Invesco, have also increased their positions in Lowe's, with institutional investors owning 74.06% of the company's stock.
• Lowe's Companies reported $4.33 EPS for the recent quarter, beating expectations, and announced a quarterly dividend of $1.20 per share to be paid on November 5th.

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,319,887 shares of the home improvement retailer's stock after buying an additional 20,490 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Lowe's Companies worth $292,843,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Lowe's Companies by 0.4% during the 1st 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 during the period. Invesco Ltd. grew its position in Lowe's Companies by 10.6% in the 1st quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock valued at $1,214,448,000 after acquiring an additional 501,154 shares during the last quarter. Goldman Sachs Group Inc. grew 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 during the last quarter. Price T Rowe Associates Inc. MD grew its position in Lowe's Companies by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,779,120 shares of the home improvement retailer's stock valued at $881,406,000 after acquiring an additional 225,964 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Lowe's Companies by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,501,740 shares of the home improvement retailer's stock valued at $816,711,000 after acquiring an additional 42,676 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on LOW shares. Royal Bank Of Canada increased their target price on shares of Lowe's Companies from $243.00 to $260.00 and gave the stock a "sector perform" rating in a report on Thursday, August 21st. Piper Sandler raised their price target on Lowe's Companies from $269.00 to $294.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Sanford C. Bernstein raised their price target on Lowe's Companies from $266.00 to $279.00 and gave the stock an "outperform" rating in a report on Thursday, August 21st. Barclays set a $267.00 target price on Lowe's Companies in a report on Thursday, August 21st. Finally, Wells Fargo & Company lifted their target price on Lowe's Companies from $260.00 to $300.00 and gave the stock an "overweight" rating in a 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $282.91.

Lowe's Companies Price Performance

Lowe's Companies stock opened at $245.36 on Friday. The stock has a market capitalization of $137.60 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 2.25 and a beta of 0.88. Lowe's Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $280.64. The business has a 50 day simple moving average of $254.82 and a 200-day simple moving average of $235.23.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, beating analysts' consensus estimates 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 negative return on equity of 52.02% and a net margin of 8.20%.The business's revenue was up 1.6% compared to the same quarter last year. During the same period in the previous 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, equities research analysts anticipate that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, October 22nd. Lowe's Companies's payout ratio is presently 39.44%.

Insider Transactions at Lowe's Companies

In related news, EVP Brandon J. Sink sold 8,192 shares of the business's stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the completion of the sale, the executive vice president directly owned 21,603 shares in the company, valued at approximately $5,802,133.74. The trade was a 27.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $272.60, for a total value of $11,942,606.00. Following the sale, the executive vice president owned 66,566 shares of the company's stock, valued at $18,145,891.60. The trade was a 39.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,931 shares of company stock valued at $24,945,752 over the last ninety days. Company insiders own 0.27% of the company's stock.

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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