Addenda Capital Inc. Has $11.06 Million Holdings in Lowe’s Companies, Inc. $LOW

Addenda Capital Inc. lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 38.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,832 shares of the home improvement retailer’s stock after purchasing an additional 13,878 shares during the quarter. Addenda Capital Inc.’s holdings in Lowe’s Companies were worth $11,056,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Patton Albertson Miller Group LLC boosted its holdings in shares of Lowe’s Companies by 2.3% during the second quarter. Patton Albertson Miller Group LLC now owns 26,682 shares of the home improvement retailer’s stock worth $5,920,000 after acquiring an additional 596 shares during the period. Sonora Investment Management Group LLC raised its position in shares of Lowe’s Companies by 5.8% in the second quarter. Sonora Investment Management Group LLC now owns 2,246 shares of the home improvement retailer’s stock valued at $498,000 after buying an additional 123 shares in the last quarter. Guyasuta Investment Advisors Inc. boosted its stake in shares of Lowe’s Companies by 0.6% in the second quarter. Guyasuta Investment Advisors Inc. now owns 173,879 shares of the home improvement retailer’s stock valued at $38,579,000 after buying an additional 1,008 shares during the period. Stockman Wealth Management Inc. grew its position in Lowe’s Companies by 2.1% during the second quarter. Stockman Wealth Management Inc. now owns 2,684 shares of the home improvement retailer’s stock worth $596,000 after buying an additional 55 shares in the last quarter. Finally, Avior Wealth Management LLC grew its position in Lowe’s Companies by 19.5% during the second quarter. Avior Wealth Management LLC now owns 5,085 shares of the home improvement retailer’s stock worth $1,128,000 after buying an additional 829 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on LOW shares. Robert W. Baird upped their target price on Lowe’s Companies from $285.00 to $295.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Truist Financial boosted their price target on Lowe’s Companies from $264.00 to $283.00 and gave the company a “buy” rating in a research note on Thursday, August 21st. Guggenheim reiterated a “buy” rating and set a $300.00 price objective on shares of Lowe’s Companies in a research note on Thursday, August 21st. Sanford C. Bernstein boosted their target price on shares of Lowe’s Companies from $266.00 to $279.00 and gave the company an “outperform” rating in a research report on Thursday, August 21st. Finally, Barclays set a $267.00 price target on shares of Lowe’s Companies in a research report on Thursday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $285.50.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 43,810 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was 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. The trade was a 39.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Brandon J. Sink sold 8,192 shares of the stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $268.58, for a total value of $2,200,207.36. Following the completion of the sale, the executive vice president directly owned 21,603 shares of the company’s stock, valued at approximately $5,802,133.74. The trade was a 27.49% decrease in their position. 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 over the last 90 days. 0.27% of the stock is owned by corporate insiders.

Lowe’s Companies Stock Up 0.6%

Shares of LOW opened at $257.18 on Friday. The business has a 50-day simple moving average of $251.61 and a two-hundred day simple moving average of $233.28. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01. The stock has a market cap of $144.23 billion, a PE ratio of 21.13, a PEG ratio of 2.38 and a beta of 0.87.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, topping 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 business had revenue of $23.96 billion for the quarter, compared to the consensus estimate of $23.99 billion. During the same period last year, the company 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. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Cuts Dividend

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

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.