KLP Kapitalforvaltning AS Purchases 8,000 Shares of Lowe’s Companies, Inc. $LOW

KLP Kapitalforvaltning AS boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 202,103 shares of the home improvement retailer’s stock after purchasing an additional 8,000 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Lowe’s Companies were worth $44,841,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LOW. Nuveen LLC bought a new stake in shares of Lowe’s Companies during the first quarter valued at approximately $681,215,000. Pacer Advisors Inc. lifted its position in Lowe’s Companies by 2,984.6% in the 1st quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer’s stock valued at $475,339,000 after acquiring an additional 1,971,996 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Lowe’s Companies by 1,048.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer’s stock valued at $172,527,000 after purchasing an additional 675,318 shares during the last quarter. Wellington Management Group LLP boosted its stake in Lowe’s Companies by 49.0% during the 1st quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer’s stock valued at $438,751,000 after purchasing an additional 618,775 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of 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 worth $1,214,448,000 after purchasing an additional 501,154 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on LOW shares. DA Davidson upped their price target on Lowe’s Companies from $240.00 to $266.00 and gave the company a “neutral” rating in a report on Thursday, August 21st. Oppenheimer boosted their target price on Lowe’s Companies from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, September 25th. UBS Group raised their price target on shares of Lowe’s Companies from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research note on Thursday, August 21st. Finally, Citigroup lowered their price objective on shares of Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating on the stock in a research report on Thursday, July 31st. Seventeen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $285.50.

Insider Buying and Selling

In other news, EVP Juliette Williams Pryor sold 929 shares of Lowe’s Companies stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total transaction of $238,938.80. Following the transaction, the executive vice president directly owned 30,099 shares of the company’s stock, valued at $7,741,462.80. The trade was a 2.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marvin R. Ellison sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the completion of the sale, the chief executive officer directly owned 249,043 shares of the company’s stock, valued at $65,772,256.30. This represents a 13.84% 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 three months. 0.27% of the stock is currently owned by company insiders.

Lowe’s Companies Stock Down 1.9%

Shares of NYSE:LOW opened at $241.67 on Tuesday. The stock has a market capitalization of $135.54 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 2.28 and a beta of 0.88. The firm’s 50 day moving average price is $254.18 and its 200-day moving average price is $234.30. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its earnings results 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. 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 analysts’ expectations of $23.99 billion. During the same period in the prior year, the company earned $4.10 earnings per share. The firm’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. Analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently announced 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. 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 payout ratio is 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.