Mirae Asset Global Investments Co. Ltd. Buys 9,677 Shares of Lowe’s Companies, Inc. $LOW

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 13.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,761 shares of the home improvement retailer’s stock after acquiring an additional 9,677 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Lowe’s Companies were worth $17,697,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SeaBridge Investment Advisors LLC boosted its stake in shares of Lowe’s Companies by 3.7% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock valued at $2,859,000 after purchasing an additional 465 shares during the last quarter. State of Alaska Department of Revenue boosted its stake 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 valued at $29,223,000 after purchasing an additional 1,470 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Lowe’s Companies by 8.1% in the 1st quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer’s stock valued at $3,860,000 after purchasing an additional 1,242 shares during the last quarter. Advent Capital Management DE boosted its stake in shares of Lowe’s Companies by 20.0% in the 1st quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer’s stock valued at $4,198,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Cornerstone Wealth Group LLC boosted its stake in shares of Lowe’s Companies by 12.6% in the 1st quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer’s stock valued at $6,848,000 after purchasing an additional 3,295 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $246.24 on Friday. The company has a market capitalization of $138.10 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 2.28 and a beta of 0.88. The company’s 50 day moving average price is $253.95 and its two-hundred day moving average price is $234.14. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week 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, topping the consensus estimate of $4.24 by $0.09. The firm had revenue of $23.96 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted $4.10 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is 39.44%.

Insider Activity at Lowe’s Companies

In other news, EVP Brandon J. Sink sold 8,192 shares of Lowe’s Companies stock in a transaction that occurred 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 sale, the executive vice president directly owned 21,603 shares in the company, valued at $5,802,133.74. This trade represents a 27.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marvin R. Ellison sold 40,000 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, August 20th. The shares were 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 owned 249,043 shares in the company, valued at $65,772,256.30. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,931 shares of company stock valued at $24,945,752. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on LOW shares. Gordon Haskett raised shares of Lowe’s Companies to a “hold” rating in a research note on Wednesday, August 13th. Telsey Advisory Group reissued an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research note on Thursday, August 21st. JPMorgan Chase & Co. lifted their price objective on shares of Lowe’s Companies from $280.00 to $283.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Wells Fargo & Company lifted their price objective on shares of Lowe’s Companies from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Finally, KeyCorp lifted their price objective on shares of Lowe’s Companies from $266.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Seventeen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.50.

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.