Kornitzer Capital Management Inc. KS Has $317,000 Stock Position in Lowe’s Companies, Inc. $LOW

Kornitzer Capital Management Inc. KS grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,427 shares of the home improvement retailer’s stock after acquiring an additional 68 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Lowe’s Companies were worth $317,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LOW. SeaBridge Investment Advisors LLC increased its holdings in 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 worth $2,859,000 after purchasing an additional 465 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Lowe’s Companies by 8.1% during the first quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer’s stock worth $3,860,000 after purchasing an additional 1,242 shares during the last quarter. Advent Capital Management DE increased its stake in shares of Lowe’s Companies by 20.0% in the first quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer’s stock valued at $4,198,000 after buying an additional 3,000 shares during the period. Strathmore Capital Advisors Inc. bought a new position in Lowe’s Companies in the 2nd quarter valued at approximately $2,717,000. Finally, Financial Gravity Asset Management Inc. bought a new position in Lowe’s Companies in the 1st quarter valued at approximately $303,000. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Trading Down 0.3%

Shares of Lowe’s Companies stock opened at $243.06 on Monday. The business has a 50-day moving average price of $254.64 and a two-hundred day moving average price of $235.72. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $280.64. The company has a market cap of $136.31 billion, a P/E ratio of 19.97, a PEG ratio of 2.25 and a beta of 0.88.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $23.96 billion for the quarter, compared to the consensus estimate of $23.99 billion. During the same period in the previous year, the business earned $4.10 EPS. The firm’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. Equities research analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s dividend payout ratio is presently 39.44%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on LOW shares. Stifel Nicolaus upped their price target on shares of Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research report on Monday, August 18th. Robert W. Baird boosted their price objective on shares of Lowe’s Companies from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research report on Thursday, August 21st. 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 research report on Thursday, August 21st. Finally, JPMorgan Chase & Co. increased their price target on Lowe’s Companies from $280.00 to $283.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $282.91.

Insider Activity at Lowe’s Companies

In other news, CEO Marvin R. Ellison sold 40,000 shares of Lowe’s Companies stock in a transaction on Wednesday, August 20th. The shares were 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 owned 249,043 shares in the company, valued at $65,772,256.30. The trade was a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $272.60, for a total transaction of $11,942,606.00. Following the transaction, the executive vice president directly owned 66,566 shares in the company, valued at approximately $18,145,891.60. This represents a 39.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,931 shares of company stock worth $24,945,752. Corporate insiders own 0.27% of the company’s stock.

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.