TD Asset Management Inc Decreases Position in Lowe's Companies, Inc. $LOW

Key Points

• TD Asset Management Inc has reduced its position in Lowe's Companies by 2.7%, owning 210,870 shares valued at approximately $46.8 million after selling 5,888 shares in the last quarter.
• Analysts are optimistic about Lowe's, with Wells Fargo increasing its price target from $260 to $300 and most analysts rating the stock as a "Moderate Buy."
• Lowe's declared a quarterly dividend of $1.20 per share, with a payout ratio of 39.44% and an annualized yield of 2.0%, payable on November 5th.

TD Asset Management Inc trimmed its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 210,870 shares of the home improvement retailer's stock after selling 5,888 shares during the quarter. TD Asset Management Inc's holdings in Lowe's Companies were worth $46,786,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of LOW. Fairway Wealth LLC purchased a new stake in Lowe's Companies during the first quarter worth $32,000. Olistico Wealth LLC purchased a new stake in Lowe's Companies during the second quarter worth $33,000. Inlight Wealth Management LLC purchased a new stake in Lowe's Companies during the first quarter worth $36,000. TruNorth Capital Management LLC purchased a new stake in Lowe's Companies during the first quarter worth $38,000. Finally, JNBA Financial Advisors boosted its position in Lowe's Companies by 147.1% during the first quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer's stock worth $39,000 after purchasing an additional 100 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on LOW shares. Wells Fargo & Company upped their price objective on Lowe's Companies from $260.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Stifel Nicolaus upped their price objective on Lowe's Companies from $240.00 to $265.00 and gave the company a "hold" rating in a research report on Monday, August 18th. Telsey Advisory Group restated an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a research report on Thursday, August 21st. Guggenheim restated a "buy" rating and issued a $300.00 price objective on shares of Lowe's Companies in a research report on Thursday, August 21st. Finally, Robert W. Baird upped their price objective on Lowe's Companies from $285.00 to $295.00 and gave the company an "outperform" rating in a research report on Thursday, August 21st. Sixteen 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 data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $282.91.

Lowe's Companies Trading Up 0.7%

NYSE LOW opened at $243.11 on Friday. The business's 50-day moving average price is $255.14 and its 200 day moving average price is $234.62. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $285.24. The company has a market capitalization of $136.34 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 2.24 and a beta of 0.88.

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, topping the consensus estimate 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 firm 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 business posted $4.10 earnings per share. The firm's revenue for the quarter 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. Equities analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current year.

Lowe's Companies Announces Dividend

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

Insider Transactions at Lowe's Companies

In other Lowe's Companies news, EVP Brandon J. Sink sold 8,192 shares of the company's stock in a transaction dated 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 $5,802,133.74. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Juliette Williams Pryor sold 929 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the sale, the executive vice president owned 30,099 shares of the company's stock, valued at $7,741,462.80. This represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,931 shares of company stock valued at $24,945,752. 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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