New York Life Investment Management LLC Raises Stock Holdings in Lowe’s Companies, Inc. $LOW

New York Life Investment Management LLC grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,851 shares of the home improvement retailer’s stock after buying an additional 288 shares during the quarter. New York Life Investment Management LLC’s holdings in Lowe’s Companies were worth $18,604,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SeaBridge Investment Advisors LLC increased its position in Lowe’s Companies by 3.7% in the second quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock worth $2,859,000 after buying an additional 465 shares in the last quarter. Larson Financial Group LLC increased its position in Lowe’s Companies by 8.1% in the first quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer’s stock worth $3,860,000 after buying an additional 1,242 shares in the last quarter. Advent Capital Management DE increased its position in 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 worth $4,198,000 after buying an additional 3,000 shares in the last quarter. Strathmore Capital Advisors Inc. purchased a new stake in Lowe’s Companies in the second quarter worth about $2,717,000. Finally, Financial Gravity Asset Management Inc. bought a new position in shares of Lowe’s Companies in the first quarter worth about $303,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Transactions at Lowe’s Companies

In related news, 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 transaction of $2,200,207.36. Following the completion of the transaction, the executive vice president directly owned 21,603 shares of the company’s stock, valued at approximately $5,802,133.74. This represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total value of $11,942,606.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,931 shares of company stock valued at $24,945,752 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

Lowe’s Companies Trading Up 0.5%

Shares of Lowe’s Companies stock opened at $243.81 on Tuesday. The stock has a 50 day moving average of $254.50 and a 200 day moving average of $235.86. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $280.64. The firm has a market cap of $136.73 billion, a PE ratio of 20.03, a PEG ratio of 2.25 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 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 during the quarter, compared to analyst estimates of $23.99 billion. During the same period in the prior year, the company earned $4.10 earnings per share. The firm’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. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

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

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of recent analyst reports. Evercore ISI dropped their price objective on Lowe’s Companies from $250.00 to $245.00 and set an “in-line” rating for the company in a research note on Tuesday, October 14th. Wall Street Zen raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Sanford C. Bernstein upped their price objective on Lowe’s Companies from $266.00 to $279.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Stifel Nicolaus upped their price objective on Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Monday, August 18th. Finally, Piper Sandler upped their price objective on Lowe’s Companies from $269.00 to $294.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $282.59.

Lowe’s Companies Company 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.