Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Citizens Financial Group Inc. RI

22 Nov 2024, 11:56 by Sarita Garza · The Markets Daily

Citizens Financial Group Inc. RI lifted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 6.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,757 shares of the home improvement retailer’s stock after acquiring an additional 1,219 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Lowe’s Companies were worth $5,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Capital Advisors LLC raised its holdings in shares of Lowe’s Companies by 18.6% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,410 shares of the home improvement retailer’s stock valued at $359,000 after buying an additional 221 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Lowe’s Companies during the first quarter valued at approximately $2,769,000. Truvestments Capital LLC lifted its position in shares of Lowe’s Companies by 14.5% during the first quarter. Truvestments Capital LLC now owns 931 shares of the home improvement retailer’s stock worth $237,000 after purchasing an additional 118 shares in the last quarter. LRI Investments LLC purchased a new position in shares of Lowe’s Companies in the first quarter valued at $468,000. Finally, Kestra Advisory Services LLC grew its holdings in Lowe’s Companies by 6.5% during the 1st quarter. Kestra Advisory Services LLC now owns 65,131 shares of the home improvement retailer’s stock valued at $16,591,000 after purchasing an additional 3,963 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

NYSE:LOW opened at $265.50 on Friday. Lowe’s Companies, Inc. has a 12-month low of $196.23 and a 12-month high of $287.01. The business has a 50 day simple moving average of $268.56 and a 200 day simple moving average of $244.50. The firm has a market capitalization of $150.62 billion, a P/E ratio of 22.14, a P/E/G ratio of 2.15 and a beta of 1.10.

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 business had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.56 earnings per share. Research analysts anticipate that Lowe’s Companies, Inc. will post 11.82 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a $1.15 dividend. The ex-dividend date was Wednesday, October 23rd. This represents a $4.60 annualized dividend 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 dividend payout ratio (DPR) is presently 38.37%.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of recent analyst reports. Wedbush reiterated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Piper Sandler increased their price target on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Bank of America raised their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. UBS Group upped their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada raised their price target on shares of Lowe’s Companies from $290.00 to $291.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.92.

Get Our Latest Research Report on Lowe’s Companies

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Lowe’s Companies Profile

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