Assetmark Inc. Raises Stock Holdings in Lowe’s Companies, Inc. $LOW

Assetmark Inc. grew its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 9.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,582 shares of the home improvement retailer’s stock after acquiring an additional 5,126 shares during the quarter. Assetmark Inc.’s holdings in Lowe’s Companies were worth $13,441,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in LOW. Brighton Jones LLC lifted its position in shares of Lowe’s Companies by 119.7% in the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after acquiring an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Lowe’s Companies by 31.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after acquiring an additional 259 shares in the last quarter. Mutual Advisors LLC lifted its position in shares of Lowe’s Companies by 13.2% in the first quarter. Mutual Advisors LLC now owns 13,050 shares of the home improvement retailer’s stock valued at $2,883,000 after acquiring an additional 1,519 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Lowe’s Companies by 0.4% in the first quarter. Principal Financial Group Inc. now owns 645,095 shares of the home improvement retailer’s stock valued at $150,456,000 after acquiring an additional 2,510 shares in the last quarter. Finally, Davidson Trust Co. lifted its position in shares of Lowe’s Companies by 11.5% in the first quarter. Davidson Trust Co. now owns 4,776 shares of the home improvement retailer’s stock valued at $1,114,000 after acquiring an additional 492 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Piper Sandler increased their target price on Lowe’s Companies from $269.00 to $294.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Sanford C. Bernstein increased their target price on Lowe’s Companies from $266.00 to $279.00 and gave the stock an “outperform” rating in a research report on Thursday, August 21st. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Evercore ISI reduced their target price on Lowe’s Companies from $250.00 to $245.00 and set an “in-line” rating on the stock in a research report on Tuesday, October 14th. Finally, UBS Group increased their target price on Lowe’s Companies from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.59.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $238.29 on Friday. The firm has a market capitalization of $133.64 billion, a PE ratio of 19.58, a P/E/G ratio of 2.21 and a beta of 0.88. The business has a 50-day moving average of $253.05 and a two-hundred day moving average of $236.27. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $280.64.

Lowe’s Companies (NYSE:LOW) last announced its 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. The business had revenue of $23.96 billion for the quarter, compared to the consensus estimate of $23.99 billion. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The company’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the business posted $4.10 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Wednesday, October 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.44%.

Insider Buying and Selling

In related news, EVP Brandon J. Sink sold 8,192 shares of the firm’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the sale, the executive vice president directly owned 21,603 shares in the company, valued at approximately $5,802,133.74. This trade represents a 27.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marvin R. Ellison sold 40,000 shares of the firm’s 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 in the company, valued at approximately $65,772,256.30. The trade was a 13.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 92,931 shares of company stock valued at $24,945,752. Corporate insiders own 0.27% of the company’s stock.

About Lowe’s Companies

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.