ABC Arbitrage SA Invests $2.08 Million in Lowe’s Companies, Inc. $LOW

ABC Arbitrage SA bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,385 shares of the home improvement retailer’s stock, valued at approximately $2,082,000.

Other large investors have also recently bought and sold shares of the company. SeaBridge Investment Advisors LLC raised its stake in shares of Lowe’s Companies by 3.7% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock worth $2,859,000 after purchasing an additional 465 shares during the period. Larson Financial Group LLC grew its position in Lowe’s Companies by 8.1% during the first quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer’s stock valued at $3,860,000 after buying an additional 1,242 shares during the period. Advent Capital Management DE increased its holdings in Lowe’s Companies by 20.0% during the first quarter. Advent Capital Management DE now owns 18,000 shares of the home improvement retailer’s stock worth $4,198,000 after buying an additional 3,000 shares during the last quarter. Strathmore Capital Advisors Inc. bought a new stake in Lowe’s Companies in the second quarter worth about $2,717,000. Finally, First Pacific Financial boosted its stake in Lowe’s Companies by 147.3% in the second quarter. First Pacific Financial now owns 2,752 shares of the home improvement retailer’s stock valued at $611,000 after acquiring an additional 1,639 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $235.53 on Wednesday. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $280.64. The stock has a fifty day moving average of $249.68 and a 200 day moving average of $237.31. The firm has a market capitalization of $132.09 billion, a price-to-earnings ratio of 19.35, a P/E/G ratio of 2.21 and a beta of 0.87.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $23.99 billion. During the same quarter in the previous year, the company 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 analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd were issued a $1.20 dividend. The ex-dividend date was Wednesday, October 22nd. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. Lowe’s Companies’s payout ratio is currently 39.44%.

Wall Street Analyst Weigh In

LOW has been the topic of several research analyst reports. Truist Financial dropped their price objective on Lowe’s Companies from $283.00 to $267.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Sanford C. Bernstein upped their price target on Lowe’s Companies from $279.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday. Royal Bank Of Canada increased their price target on Lowe’s Companies from $243.00 to $260.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 21st. Oppenheimer boosted their price objective on Lowe’s Companies from $305.00 to $320.00 and gave the company an “outperform” rating in a research note on Thursday, September 25th. Finally, UBS Group upped their price objective on shares of Lowe’s Companies from $300.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, August 21st. Sixteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $280.50.

Insider Buying and Selling

In other news, EVP Brandon J. Sink sold 8,192 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marvin R. Ellison sold 40,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were 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 of the company’s stock, valued at $65,772,256.30. This represents a 13.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 92,931 shares of company stock worth $24,945,752 in the last ninety days. Corporate insiders own 0.27% of the company’s stock.

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.