Mitsubishi UFJ Asset Management Co. Ltd. Acquires 71,967 Shares of Lowe’s Companies, Inc. $LOW

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 7.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,094,926 shares of the home improvement retailer’s stock after acquiring an additional 71,967 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Lowe’s Companies were worth $242,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Solstein Capital LLC boosted its position in shares of Lowe’s Companies by 627.8% in the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after acquiring an additional 113 shares during the period. Olistico Wealth LLC acquired a new position in Lowe’s Companies during the 2nd quarter valued at $33,000. TruNorth Capital Management LLC bought a new stake in Lowe’s Companies in the 1st quarter valued at $38,000. Barnes Dennig Private Wealth Management LLC boosted its holdings in Lowe’s Companies by 101.0% in the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 193 shares of the home improvement retailer’s stock valued at $43,000 after purchasing an additional 97 shares during the period. Finally, Orion Capital Management LLC grew its position in Lowe’s Companies by 34.2% in the 1st quarter. Orion Capital Management LLC now owns 196 shares of the home improvement retailer’s stock worth $46,000 after purchasing an additional 50 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Gordon Haskett raised shares of Lowe’s Companies to a “hold” rating in a research report on Wednesday, August 13th. Evercore ISI cut their price target on Lowe’s Companies from $250.00 to $245.00 and set an “in-line” rating for the company in a report on Tuesday, October 14th. Wells Fargo & Company raised their price objective on Lowe’s Companies from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Truist Financial lowered their price objective on Lowe’s Companies from $283.00 to $267.00 and set a “buy” rating on the stock in a research report on Friday. Finally, DA Davidson upped their target price on Lowe’s Companies from $240.00 to $266.00 and gave the company a “neutral” rating in a research note on Thursday, August 21st. Sixteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $282.00.

Insider Activity

In related news, EVP Brandon J. Sink sold 8,192 shares of Lowe’s Companies stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the completion of the transaction, the executive vice president directly owned 21,603 shares of the company’s stock, valued at $5,802,133.74. This trade represents a 27.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marvin R. Ellison sold 40,000 shares of the business’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total transaction of $10,564,000.00. Following the completion of the transaction, the chief executive officer owned 249,043 shares in the company, valued at approximately $65,772,256.30. This trade represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 92,931 shares of company stock worth $24,945,752. Company insiders own 0.27% of the company’s stock.

Lowe’s Companies Trading Up 0.7%

LOW stock opened at $232.92 on Friday. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $280.64. The business’s 50 day moving average is $250.65 and its 200-day moving average is $236.87. The firm has a market cap of $130.62 billion, a P/E ratio of 19.14, a P/E/G ratio of 2.21 and a beta of 0.87.

Lowe’s Companies (NYSE:LOW) last announced its quarterly 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. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The business had revenue of $23.96 billion for the quarter, compared to analyst estimates of $23.99 billion. During the same quarter in the previous year, the firm earned $4.10 EPS. Lowe’s Companies’s quarterly revenue was up 1.6% on a year-over-year basis. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The company also recently announced 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 of this dividend was Wednesday, October 22nd. This represents a $4.80 annualized dividend and a dividend yield of 2.1%. Lowe’s Companies’s dividend payout ratio is presently 39.44%.

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.