QRG Capital Management Inc. Acquires 3,947 Shares of Lowe’s Companies, Inc. $LOW

QRG Capital Management Inc. increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,692 shares of the home improvement retailer’s stock after acquiring an additional 3,947 shares during the period. QRG Capital Management Inc.’s holdings in Lowe’s Companies were worth $34,322,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Lowe’s Companies by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 54,609,378 shares of the home improvement retailer’s stock valued at $12,736,545,000 after buying an additional 230,359 shares during the period. Invesco Ltd. increased its position in Lowe’s Companies by 10.6% during the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer’s stock valued at $1,214,448,000 after acquiring an additional 501,154 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Lowe’s Companies by 6.9% in the first quarter. Goldman Sachs Group Inc. now owns 5,111,747 shares of the home improvement retailer’s stock valued at $1,192,213,000 after acquiring an additional 330,701 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Lowe’s Companies by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,779,120 shares of the home improvement retailer’s stock worth $881,406,000 after acquiring an additional 225,964 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Lowe’s Companies by 1.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,501,740 shares of the home improvement retailer’s stock worth $816,711,000 after acquiring an additional 42,676 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Down 0.4%

Shares of NYSE LOW opened at $246.24 on Friday. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01. The firm has a market cap of $138.10 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 2.29 and a beta of 0.88. The business has a fifty day simple moving average of $253.95 and a two-hundred day simple moving average of $234.08.

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 the consensus estimate of $4.24 by $0.09. The firm had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $4.10 earnings per share. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, research analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be issued a $1.20 dividend. The ex-dividend date is Wednesday, October 22nd. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. Lowe’s Companies’s payout ratio is currently 39.44%.

Analysts Set New Price Targets

A number of analysts recently weighed in on LOW shares. Piper Sandler increased their price objective on shares of Lowe’s Companies from $269.00 to $294.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Sanford C. Bernstein raised their price target 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. Telsey Advisory Group restated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a report on Thursday, August 21st. UBS Group increased their target price on Lowe’s Companies from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, August 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Lowe’s Companies from $280.00 to $283.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Seventeen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.50.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Joseph Michael Mcfarland sold 43,810 shares of the business’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 completion of the transaction, the executive vice president owned 66,566 shares of the company’s stock, valued at $18,145,891.60. The trade was a 39.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Juliette Williams Pryor sold 929 shares of the stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $257.20, for a total value of $238,938.80. Following the sale, the executive vice president directly owned 30,099 shares in the company, valued at $7,741,462.80. This trade represents a 2.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,931 shares of company stock worth $24,945,752 over the last quarter. 0.27% of the stock is currently owned by company insiders.

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.