Lowe’s Companies, Inc. (NYSE:LOW) Shares Purchased by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

22 Nov 2024, 18:24 by Kim Johansen · The Markets Daily

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 241,546 shares of the home improvement retailer’s stock after purchasing an additional 2,324 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Lowe’s Companies were worth $65,422,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LOW. Cornerstone Advisors LLC grew its position in Lowe’s Companies by 1.1% in the 3rd quarter. Cornerstone Advisors LLC now owns 27,300 shares of the home improvement retailer’s stock valued at $7,394,000 after acquiring an additional 300 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in Lowe’s Companies by 6.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 20,757 shares of the home improvement retailer’s stock valued at $5,622,000 after acquiring an additional 1,219 shares in the last quarter. EagleClaw Capital Managment LLC grew its position in Lowe’s Companies by 3.9% in the 3rd quarter. EagleClaw Capital Managment LLC now owns 34,172 shares of the home improvement retailer’s stock valued at $9,255,000 after acquiring an additional 1,295 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in Lowe’s Companies in the 3rd quarter valued at about $661,000. Finally, Ontario Teachers Pension Plan Board grew its position in Lowe’s Companies by 1.6% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer’s stock valued at $634,700,000 after acquiring an additional 36,054 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Mizuho lifted their price objective on Lowe’s Companies from $280.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday. TD Cowen lifted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research note on Monday, October 28th. UBS Group lifted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, DA Davidson lifted their price objective on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $277.92.

Get Our Latest Stock Report on Lowe’s Companies

Lowe’s Companies Stock Up 0.9 %

LOW opened at $265.50 on Friday. The firm has a market cap of $150.62 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 52 week low of $196.23 and a 52 week high of $287.01. The business’s 50 day moving average is $268.56 and its two-hundred day moving average is $244.50.

Lowe’s Companies (NYSE:LOW – Get Free Report) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping 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 47.55% and a net margin of 8.19%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.56 earnings per share. Equities analysts expect that Lowe’s Companies, Inc. will post 11.82 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.73%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is presently 38.37%.

Lowe’s Companies Company Profile

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