IFM Investors Pty Ltd Purchases 5,666 Shares of Lowe’s Companies, Inc. $LOW

IFM Investors Pty Ltd lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,032 shares of the home improvement retailer’s stock after purchasing an additional 5,666 shares during the quarter. IFM Investors Pty Ltd’s holdings in Lowe’s Companies were worth $25,522,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue boosted its position 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 worth $29,223,000 after purchasing an additional 1,470 shares in the last quarter. Larson Financial Group LLC raised its stake in Lowe’s Companies by 8.1% during the first quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer’s stock valued at $3,860,000 after buying an additional 1,242 shares during the last quarter. Advent Capital Management DE boosted its holdings in Lowe’s Companies by 20.0% in the first quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer’s stock worth $4,198,000 after acquiring an additional 3,000 shares in the last quarter. Cornerstone Wealth Group LLC grew its stake in shares of Lowe’s Companies by 12.6% in the first quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer’s stock worth $6,848,000 after acquiring an additional 3,295 shares during the last quarter. Finally, Community Trust & Investment Co. increased its holdings in shares of Lowe’s Companies by 2.3% during the first quarter. Community Trust & Investment Co. now owns 55,502 shares of the home improvement retailer’s stock valued at $12,945,000 after acquiring an additional 1,251 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 40,000 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total value of $10,564,000.00. Following the completion of the transaction, the chief executive officer owned 249,043 shares in the company, valued at $65,772,256.30. This trade represents a 13.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Juliette Williams Pryor sold 929 shares of the business’s 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 owned 30,099 shares in the company, valued at approximately $7,741,462.80. The trade was a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,931 shares of company stock valued at $24,945,752 in the last quarter. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Price Performance

LOW stock opened at $267.76 on Friday. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The business has a 50-day moving average price of $246.80 and a 200 day moving average price of $232.46. The company has a market capitalization of $150.17 billion, a P/E ratio of 22.00, a PEG ratio of 2.48 and a beta of 0.87.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $23.99 billion. During the same quarter in the previous year, the business posted $4.10 EPS. The company’s quarterly 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 anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal 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 dividend of $0.012 per share. 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 payout ratio is presently 39.44%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LOW. DA Davidson upped their price target on shares of Lowe’s Companies from $240.00 to $266.00 and gave the stock a “neutral” rating in a research note on Thursday, August 21st. Wells Fargo & Company upped their price target on shares of Lowe’s Companies from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. KeyCorp boosted their target price on shares of Lowe’s Companies from $266.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, August 21st. Truist Financial increased their price target on shares of Lowe’s Companies from $264.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Finally, Citigroup dropped their price target on shares of 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. Seventeen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average target price of $285.08.

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.