Ameriprise Financial Inc. increased its stake in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,609,325 shares of the home improvement retailer’s stock after buying an additional 135,245 shares during the quarter. Ameriprise Financial Inc.’s holdings in Lowe’s Companies were worth $602,713,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Wood Tarver Financial Group LLC bought a new position in Lowe’s Companies during the 4th quarter valued at about $25,000. Fairway Wealth LLC purchased a new position in shares of Lowe’s Companies in the first quarter worth $32,000. Orion Capital Management LLC acquired a new stake in Lowe’s Companies during the 4th quarter worth about $36,000. Inlight Wealth Management LLC acquired a new stake in shares of Lowe’s Companies during the first quarter worth about $36,000. Finally, IFS Advisors LLC boosted its holdings in shares of Lowe’s Companies by 60.0% in the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.
Insider Buying and Selling
In other news, CEO Marvin R. Ellison sold 40,000 shares of Lowe’s Companies 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 sale, the chief executive officer directly owned 249,043 shares of the company’s stock, valued at approximately $65,772,256.30. The trade was a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value of $257,075.00. Following the transaction, the executive vice president directly owned 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.
Lowe’s Companies Stock Performance
Lowe’s Companies (NYSE:LOW – Get Free Report) last posted its quarterly 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. 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 for the quarter, compared to analyst estimates of $23.99 billion. During the same quarter in the previous year, the firm earned $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. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.
Lowe’s Companies Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were paid a $1.20 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. Lowe’s Companies’s payout ratio is presently 39.77%.
Wall Street Analysts Forecast Growth
LOW has been the topic of a number of recent research reports. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research note on Thursday. Royal Bank Of Canada boosted their target price on shares of Lowe’s Companies from $243.00 to $260.00 and gave the stock a “sector perform” rating in a research note on Thursday. Sanford C. Bernstein raised their target price on Lowe’s Companies from $266.00 to $279.00 and gave the company an “outperform” rating in a research report on Thursday. KeyCorp lifted their price target on Lowe’s Companies from $266.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, DA Davidson boosted their price target on Lowe’s Companies from $240.00 to $266.00 and gave the stock a “neutral” rating in a research report on Thursday. Sixteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.33.
Check Out Our Latest Report on Lowe’s Companies
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.
Read More
- Five stocks we like better than Lowe’s Companies
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- Shopify’s Risk-Reward Profile Is Suddenly Red Hot
- Breakout Stocks: What They Are and How to Identify Them
- 3 Robotics Stocks at the Heart of the Robotics Revolution
- Why Invest in 5G? How to Invest in 5G Stocks
- Tilray’s High Hopes: The Catalyst Driving Cannabis Stocks
Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Companies, Inc. (NYSE:LOW – Free Report).
Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.