Voleon Capital Management LP Acquires 18,402 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Voleon Capital Management LP increased its stake in Lowe's Companies by 282.9%, purchasing an additional 18,402 shares, bringing its total holdings to 24,906 shares valued at approximately $5.81 million.
• Multiple investment firms, including the State of Alaska Department of Revenue and Advent Capital Management DE, also boosted their holdings in Lowe's Companies during the first quarter of 2023, highlighting strong institutional interest.
• Research analysts are optimistic about Lowe's Companies, with many maintaining "buy" ratings and raising their price targets significantly, indicating a consensus price target of $284.13.

Voleon Capital Management LP raised its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 282.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 24,906 shares of the home improvement retailer's stock after buying an additional 18,402 shares during the quarter. Voleon Capital Management LP's holdings in Lowe's Companies were worth $5,809,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Second Line Capital LLC raised its position in Lowe's Companies by 0.9% during the 4th quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer's stock worth $1,183,000 after buying an additional 44 shares during the last quarter. Vertex Planning Partners LLC raised its position in Lowe's Companies by 2.9% during the 1st quarter. Vertex Planning Partners LLC now owns 1,582 shares of the home improvement retailer's stock worth $369,000 after buying an additional 44 shares during the last quarter. Quadcap Wealth Management LLC raised its position in Lowe's Companies by 0.5% during the 1st quarter. Quadcap Wealth Management LLC now owns 9,386 shares of the home improvement retailer's stock worth $2,189,000 after buying an additional 46 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Lowe's Companies by 0.8% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer's stock valued at $1,357,000 after purchasing an additional 47 shares in the last quarter. Finally, Fielder Capital Group LLC increased its holdings in shares of Lowe's Companies by 5.9% in the 1st quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer's stock valued at $202,000 after purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of research reports. Guggenheim reissued a "buy" rating and issued a $300.00 price objective on shares of Lowe's Companies in a research note on Thursday, August 21st. JPMorgan Chase & Co. lifted their price target on shares of Lowe's Companies from $280.00 to $283.00 and gave the stock an "overweight" rating in a report on Thursday, August 21st. Royal Bank Of Canada raised 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 research report on Thursday, August 21st. Piper Sandler raised their target price on shares of Lowe's Companies from $269.00 to $294.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. Finally, Stifel Nicolaus raised their target price on shares of Lowe's Companies from $240.00 to $265.00 and gave the stock a "hold" rating in a research report on Monday, August 18th. Sixteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Lowe's Companies has an average rating of "Moderate Buy" and an average price target of $284.13.

Insider Buying and Selling at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 929 shares of the business's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total transaction of $238,938.80. Following the completion of the sale, the executive vice president owned 30,099 shares in the company, valued at $7,741,462.80. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brandon J. Sink sold 8,192 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the transaction, the executive vice president directly owned 21,603 shares of the company's stock, valued at approximately $5,802,133.74. This trade represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,121 shares of company stock worth $13,003,146 over the last 90 days. Insiders own 0.27% of the company's stock.

Lowe's Companies Price Performance

Shares of NYSE:LOW traded up $6.01 during midday trading on Thursday, reaching $272.56. The company had a trading volume of 2,253,358 shares, compared to its average volume of 2,716,010. The stock's fifty day moving average price is $241.49 and its 200-day moving average price is $231.38. The stock has a market capitalization of $152.86 billion, a P/E ratio of 22.40, a PEG ratio of 2.49 and a beta of 0.87. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.24 by $0.09. The business had revenue of $23.96 billion during the quarter, compared to analyst estimates of $23.99 billion. Lowe's Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The business's revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.10 earnings per share. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, sell-side analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Cuts Dividend

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

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.