London Co. of Virginia Has $307 Million Stake in Lowe’s Companies, Inc. $LOW

London Co. of Virginia cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,383,655 shares of the home improvement retailer’s stock after selling 30,814 shares during the quarter. Lowe’s Companies makes up about 1.7% of London Co. of Virginia’s portfolio, making the stock its 17th largest holding. London Co. of Virginia’s holdings in Lowe’s Companies were worth $306,996,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SeaBridge Investment Advisors LLC lifted its stake in shares of Lowe’s Companies by 3.7% in the 2nd quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock valued at $2,859,000 after purchasing an additional 465 shares during the period. QRG Capital Management Inc. increased its holdings in Lowe’s Companies by 2.6% in the second quarter. QRG Capital Management Inc. now owns 154,692 shares of the home improvement retailer’s stock worth $34,322,000 after purchasing an additional 3,947 shares in the last quarter. Strathmore Capital Advisors Inc. acquired a new position in Lowe’s Companies in the second quarter valued at approximately $2,717,000. First Pacific Financial lifted its stake in Lowe’s Companies by 147.3% in the second quarter. First Pacific Financial now owns 2,752 shares of the home improvement retailer’s stock valued at $611,000 after buying an additional 1,639 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in shares of Lowe’s Companies by 0.7% during the 2nd quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock worth $183,344,000 after buying an additional 5,820 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LOW. Mizuho lowered their price objective on shares of Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Robert W. Baird decreased their price target on shares of Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Barclays set a $267.00 price objective on shares of Lowe’s Companies in a report on Thursday, August 21st. Argus reduced their target price on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Finally, HSBC dropped their price target on Lowe’s Companies from $285.00 to $263.00 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, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $275.92.

Lowe’s Companies Price Performance

NYSE:LOW opened at $247.20 on Friday. Lowe’s Companies, Inc. has a one year low of $206.38 and a one year high of $274.98. The company has a market cap of $138.67 billion, a PE ratio of 20.50, a PEG ratio of 4.11 and a beta of 0.96. The firm has a 50-day moving average of $238.74 and a 200-day moving average of $239.08.

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

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be given 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 payout ratio is presently 39.80%.

Lowe’s Companies Company 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.