The Manufacturers Life Insurance Company Boosts Stock Position in Lowe’s Companies, Inc. $LOW

The Manufacturers Life Insurance Company boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 13.6% in the second quarter, HoldingsChannel.com reports. The fund owned 1,546,061 shares of the home improvement retailer’s stock after purchasing an additional 184,960 shares during the period. The Manufacturers Life Insurance Company’s holdings in Lowe’s Companies were worth $343,025,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Lowe’s Companies during the second quarter worth about $1,773,624,000. Tableaux LLC purchased a new stake in Lowe’s Companies during the 2nd quarter worth approximately $282,884,000. Laurel Wealth Advisors LLC lifted its holdings in Lowe’s Companies by 22,167.5% during the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock worth $229,041,000 after buying an additional 1,027,683 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Lowe’s Companies by 49.0% during the 1st quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer’s stock worth $438,751,000 after buying an additional 618,775 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Lowe’s Companies by 26.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,358,118 shares of the home improvement retailer’s stock valued at $523,196,000 after buying an additional 491,005 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Up 1.4%

LOW stock opened at $246.18 on Thursday. The stock has a market cap of $138.10 billion, a P/E ratio of 20.41, a PEG ratio of 4.02 and a beta of 0.96. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $274.98. The company’s 50 day moving average is $238.71 and its two-hundred day moving average is $238.84.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, November 19th. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The firm had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. During the same period last year, the firm posted $2.89 EPS. The company’s revenue was up 3.2% on a year-over-year basis. Lowe’s Companies has set its FY 2025 guidance at 12.250-12.250 EPS. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.80%.

Analysts Set New Price Targets

LOW has been the topic of a number of recent research reports. Robert W. Baird cut their price objective on Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Gordon Haskett upgraded Lowe’s Companies to a “hold” rating in a report on Wednesday, August 13th. Royal Bank Of Canada reduced their price target on Lowe’s Companies from $260.00 to $252.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 20th. Wall Street Zen raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, TD Cowen cut their target price on shares of Lowe’s Companies from $275.00 to $250.00 and set a “hold” rating on the stock in a research note on Friday, November 21st. Sixteen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $274.88.

Lowe’s Companies Profile

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.