Ransom Advisory Ltd Takes $2.64 Million Position in Lowe’s Companies, Inc. $LOW

Ransom Advisory Ltd bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the first quarter, Holdings Channel.com reports. The fund bought 11,313 shares of the home improvement retailer’s stock, valued at approximately $2,639,000. Lowe’s Companies comprises about 1.3% of Ransom Advisory Ltd’s portfolio, making the stock its 19th biggest holding.

Several other hedge funds have also added to or reduced their stakes in the business. Glenview Trust co boosted its position in Lowe’s Companies by 12.0% during the first quarter. Glenview Trust co now owns 165,234 shares of the home improvement retailer’s stock worth $38,538,000 after purchasing an additional 17,653 shares during the period. SageView Advisory Group LLC raised its position in shares of Lowe’s Companies by 2.3% in the first quarter. SageView Advisory Group LLC now owns 7,193 shares of the home improvement retailer’s stock valued at $1,677,000 after purchasing an additional 162 shares during the period. SCS Capital Management LLC acquired a new stake in shares of Lowe’s Companies during the 1st quarter worth about $714,000. Optimize Financial Inc boosted its holdings in shares of Lowe’s Companies by 34.8% during the 1st quarter. Optimize Financial Inc now owns 2,916 shares of the home improvement retailer’s stock worth $680,000 after buying an additional 753 shares during the period. Finally, Woodline Partners LP grew its stake in Lowe’s Companies by 40.0% in the 1st quarter. Woodline Partners LP now owns 47,704 shares of the home improvement retailer’s stock valued at $11,126,000 after buying an additional 13,636 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LOW. Stifel Nicolaus increased their price target on shares of Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a report on Monday, August 18th. DA Davidson lifted their price target on Lowe’s Companies from $240.00 to $266.00 and gave the stock a “neutral” rating in a report on Thursday, August 21st. Gordon Haskett upgraded Lowe’s Companies to a “hold” rating in a research note on Wednesday, August 13th. Citigroup dropped their target price on Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating for the company in a report on Thursday, July 31st. Finally, Truist Financial upped their price target on shares of Lowe’s Companies from $264.00 to $283.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus price target of $284.13.

Insider Activity

In related news, EVP Juliette Williams Pryor sold 929 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was 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 of the company’s stock, valued at $7,741,462.80. This trade represents a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Marvin R. Ellison sold 40,000 shares of the business’s stock in a transaction dated 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 transaction, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,121 shares of company stock worth $13,003,146. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $269.42 on Wednesday. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $287.01. The stock’s fifty day moving average is $240.70 and its 200 day moving average is $231.14. The stock has a market capitalization of $151.10 billion, a P/E ratio of 22.14, a PEG ratio of 2.53 and a beta of 0.87.

Lowe’s Companies (NYSE:LOW) last released its 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. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The firm had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same period last year, the firm earned $4.10 EPS. The business’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. Equities research analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Wednesday, October 22nd will be paid a dividend of $0.012 per share. The ex-dividend date is Wednesday, October 22nd. This represents a $0.05 annualized dividend and a yield of 0.0%. Lowe’s Companies’s dividend payout ratio is presently 39.44%.

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.