Concord Asset Management LLC VA Purchases New Position in Lowe’s Companies, Inc. $LOW

Concord Asset Management LLC VA purchased a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,338 shares of the home improvement retailer’s stock, valued at approximately $741,000.

A number of other large investors have also recently modified their holdings of LOW. Nuveen LLC purchased a new stake in shares of Lowe’s Companies in the first quarter valued at approximately $681,215,000. Pacer Advisors Inc. raised its stake in Lowe’s Companies by 2,984.6% in the first quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer’s stock worth $475,339,000 after buying an additional 1,971,996 shares in the last quarter. Wellington Management Group LLP raised its stake in Lowe’s Companies by 49.0% in the first quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer’s stock worth $438,751,000 after buying an additional 618,775 shares in the last quarter. Invesco Ltd. raised its stake in Lowe’s Companies by 10.6% in the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer’s stock worth $1,214,448,000 after buying an additional 501,154 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in 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 worth $1,192,213,000 after buying an additional 330,701 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on LOW. Robert W. Baird boosted their price objective on shares of Lowe’s Companies from $285.00 to $295.00 and gave the stock an “outperform” rating in a research note on Thursday, August 21st. Wells Fargo & Company boosted their price objective on shares of Lowe’s Companies from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Barclays set a $267.00 price objective on shares of Lowe’s Companies in a research note on Thursday, August 21st. Wall Street Zen raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, Truist Financial upped their price target on Lowe’s Companies from $264.00 to $283.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus target price of $283.13.

Lowe’s Companies Price Performance

NYSE LOW opened at $232.28 on Monday. The stock’s fifty day moving average price is $254.92 and its 200 day moving average price is $234.42. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01. The company has a market cap of $130.27 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 2.15 and a beta of 0.88.

Lowe’s Companies (NYSE:LOW) last posted 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. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The company had revenue of $23.96 billion for 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. 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. Shareholders of record on Wednesday, October 22nd will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, October 22nd. Lowe’s Companies’s dividend payout ratio is presently 39.44%.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 43,810 shares of the company’s stock in a transaction 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 directly owned 66,566 shares of the company’s stock, valued at approximately $18,145,891.60. This represents a 39.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marvin R. Ellison sold 40,000 shares of the company’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the completion of the sale, the chief executive officer directly owned 249,043 shares in the company, valued at approximately $65,772,256.30. The trade was a 13.84% 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 three months. Company insiders own 0.27% of the company’s stock.

Lowe’s Companies 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.