V2 Financial group LLC Takes Position in Lowe’s Companies, Inc. (NYSE:LOW)

12 Nov 2024, 17:26 by Michael Walen · The Markets Daily

V2 Financial group LLC acquired a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 800 shares of the home improvement retailer’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares during the period. International Assets Investment Management LLC lifted its position in Lowe’s Companies by 1,889.7% in the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after purchasing an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC lifted its position in Lowe’s Companies by 20,275.6% in the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after purchasing an additional 1,199,100 shares during the period. M&G Plc acquired a new stake in Lowe’s Companies in the first quarter worth approximately $217,995,000. Finally, Applied Finance Capital Management LLC lifted its position in Lowe’s Companies by 387.7% in the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock worth $219,761,000 after purchasing an additional 645,017 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

NYSE LOW opened at $277.00 on Tuesday. Lowe’s Companies, Inc. has a fifty-two week low of $192.10 and a fifty-two week high of $287.01. The stock’s 50-day moving average is $265.13 and its two-hundred day moving average is $242.57. The firm has a market cap of $157.14 billion, a P/E ratio of 22.76, a price-to-earnings-growth ratio of 2.23 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW – Get Free Report) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the company earned $4.56 earnings per share. On average, equities analysts expect that Lowe’s Companies, Inc. will post 11.92 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.14%.

Analyst Ratings Changes

LOW has been the topic of several research reports. Telsey Advisory Group raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their price target for the company from $275.00 to $305.00 in a report on Friday. JPMorgan Chase & Co. dropped their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Melius Research initiated coverage on Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target on the stock. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their price target for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Finally, TD Cowen upped their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $273.84.

Check Out Our Latest Stock Report on Lowe’s Companies

Insider Activity

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Lowe’s Companies Profile

(Free Report)

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.