Resona Asset Management Co. Ltd. Acquires 12,233 Shares of Lowe’s Companies, Inc. $LOW

Resona Asset Management Co. Ltd. grew its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 201,653 shares of the home improvement retailer’s stock after purchasing an additional 12,233 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Lowe’s Companies were worth $44,808,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of LOW. Solstein Capital LLC increased its position in shares of Lowe’s Companies by 627.8% during the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after purchasing an additional 113 shares during the last quarter. Olistico Wealth LLC bought a new position in shares of Lowe’s Companies during the 2nd quarter valued at about $33,000. TruNorth Capital Management LLC bought a new position in shares of Lowe’s Companies during the 1st quarter valued at about $38,000. Barnes Dennig Private Wealth Management LLC increased its position in shares of Lowe’s Companies by 101.0% during the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 193 shares of the home improvement retailer’s stock valued at $43,000 after purchasing an additional 97 shares during the last quarter. Finally, Vista Cima Wealth Management LLC bought a new position in shares of Lowe’s Companies during the 1st quarter valued at about $44,000. 74.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

LOW has been the topic of several recent research reports. DA Davidson increased their price objective on Lowe’s Companies from $240.00 to $266.00 and gave the company a “neutral” rating in a research report on Thursday, August 21st. KeyCorp raised their price target on Lowe’s Companies from $266.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Gordon Haskett upgraded Lowe’s Companies to a “hold” rating in a research report on Wednesday, August 13th. Weiss Ratings restated a “buy (b-)” rating on shares of Lowe’s Companies in a research report on Wednesday, October 8th. Finally, UBS Group raised their price target on Lowe’s Companies from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $282.59.

Lowe’s Companies Stock Performance

NYSE LOW opened at $234.42 on Thursday. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $280.64. The stock has a 50 day simple moving average of $251.69 and a two-hundred day simple moving average of $236.76. The stock has a market cap of $131.47 billion, a P/E ratio of 19.26, a price-to-earnings-growth ratio of 2.21 and a beta of 0.87.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data 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 business had revenue of $23.96 billion during the quarter, compared to analysts’ expectations of $23.99 billion. During the same quarter last year, the business posted $4.10 EPS. The business’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. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

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

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 43,810 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $272.60, for a total value of $11,942,606.00. Following the completion of the sale, the executive vice president owned 66,566 shares in the company, valued at approximately $18,145,891.60. This trade represents a 39.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Brandon J. Sink sold 8,192 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $268.58, for a total value of $2,200,207.36. Following the completion of the sale, the executive vice president 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 SEC filing for this sale provides additional information. In the last quarter, insiders have sold 92,931 shares of company stock worth $24,945,752. Corporate 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.