Bleakley Financial Group LLC Has $2.49 Million Holdings in Lowe’s Companies, Inc. $LOW

Bleakley Financial Group LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 11,216 shares of the home improvement retailer’s stock after acquiring an additional 160 shares during the quarter. Bleakley Financial Group LLC’s holdings in Lowe’s Companies were worth $2,488,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LOW. Nuveen LLC acquired a new position in Lowe’s Companies in the first quarter valued at approximately $681,215,000. Pacer Advisors Inc. lifted its stake in Lowe’s Companies by 2,984.6% in the first quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer’s stock valued at $475,339,000 after buying an additional 1,971,996 shares during the period. Wellington Management Group LLP increased its holdings in shares of Lowe’s Companies by 49.0% during the first quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer’s stock valued at $438,751,000 after acquiring an additional 618,775 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Lowe’s Companies by 10.6% during the first 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 in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Lowe’s Companies by 6.9% during the first 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 in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on LOW. Citigroup decreased their price objective on Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating for the company in a report on Thursday, July 31st. Mizuho boosted their price objective on Lowe’s Companies from $280.00 to $285.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Piper Sandler boosted their price objective on Lowe’s Companies from $269.00 to $294.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Barclays set a $267.00 price objective on Lowe’s Companies in a report on Thursday, August 21st. Finally, KeyCorp boosted their price objective on Lowe’s Companies from $266.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $282.91.

Lowe’s Companies Trading Down 0.3%

Shares of Lowe’s Companies stock opened at $243.06 on Friday. The stock has a fifty day simple moving average of $254.64 and a 200 day simple moving average of $235.46. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $280.64. The company has a market capitalization of $136.31 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 2.26 and a beta of 0.88.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) 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 business had revenue of $23.96 billion during the quarter, compared to the consensus estimate of $23.99 billion. During the same quarter in the prior year, the company posted $4.10 earnings per share. Lowe’s Companies’s 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 predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s dividend payout ratio is 39.44%.

Insiders Place Their Bets

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 40,000 shares of the company’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 represents a 13.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brandon J. Sink sold 8,192 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $268.58, for a total value of $2,200,207.36. Following the completion of the transaction, the executive vice president owned 21,603 shares of the company’s stock, valued at $5,802,133.74. This trade represents a 27.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,931 shares of company stock worth $24,945,752 over the last 90 days. Company insiders own 0.27% of the company’s stock.

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.