Voleon Capital Management LP Buys 18,402 Shares of Lowe’s Companies, Inc. $LOW

Voleon Capital Management LP increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 282.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,906 shares of the home improvement retailer’s stock after purchasing an additional 18,402 shares during the period. Voleon Capital Management LP’s holdings in Lowe’s Companies were worth $5,809,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in shares of Lowe’s Companies by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer’s stock worth $29,223,000 after purchasing an additional 1,470 shares during the period. Larson Financial Group LLC increased its position in shares of 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 purchasing an additional 1,242 shares during the period. Advent Capital Management DE increased its position 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 worth $4,198,000 after purchasing an additional 3,000 shares during the period. Cornerstone Wealth Group LLC increased its position in shares of Lowe’s Companies by 12.6% in the first quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer’s stock worth $6,848,000 after purchasing an additional 3,295 shares during the period. Finally, Community Trust & Investment Co. increased its position in shares of Lowe’s Companies by 2.3% in the first quarter. Community Trust & Investment Co. now owns 55,502 shares of the home improvement retailer’s stock worth $12,945,000 after purchasing an additional 1,251 shares during the period. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Guggenheim restated a “buy” rating and issued a $300.00 price target on shares of Lowe’s Companies in a research report on Thursday, August 21st. Sanford C. Bernstein raised their price objective on Lowe’s Companies from $266.00 to $279.00 and gave the company an “outperform” rating in a research note on Thursday, August 21st. UBS Group raised their price objective on Lowe’s Companies from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. DA Davidson raised their price objective on Lowe’s Companies from $240.00 to $266.00 and gave the company a “neutral” rating in a research note on Thursday, August 21st. Finally, Stifel Nicolaus raised their price objective on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research note on Monday, August 18th. Sixteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.13.

Lowe’s Companies Stock Up 2.1%

NYSE:LOW opened at $270.00 on Monday. The stock’s 50-day simple moving average is $238.85 and its 200 day simple moving average is $230.63. The firm has a market capitalization of $151.42 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.50 and a beta of 0.87. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.09. The company had revenue of $23.96 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $4.10 earnings per share. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company 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 dividend of $0.012 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s payout ratio is 39.44%.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 929 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total transaction of $238,938.80. Following the sale, the executive vice president directly owned 30,099 shares in the company, valued at approximately $7,741,462.80. The trade was a 2.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 sale, the chief executive officer owned 249,043 shares in the company, valued at approximately $65,772,256.30. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

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.