Exchange Traded Concepts LLC Purchases 51,383 Shares of Lowe’s Companies, Inc. $LOW

Exchange Traded Concepts LLC increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2,495.5% during the third quarter, Holdings Channel reports. The institutional investor owned 53,442 shares of the home improvement retailer’s stock after purchasing an additional 51,383 shares during the period. Exchange Traded Concepts LLC’s holdings in Lowe’s Companies were worth $13,431,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of Lowe’s Companies by 119.7% in the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock worth $7,889,000 after purchasing an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Lowe’s Companies by 31.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock worth $266,000 after buying an additional 259 shares during the last quarter. Sax Wealth Advisors LLC bought a new position in shares of Lowe’s Companies in the first quarter valued at $209,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Lowe’s Companies by 4.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 62,023 shares of the home improvement retailer’s stock valued at $14,465,000 after buying an additional 2,743 shares during the last quarter. Finally, ICONIQ Capital LLC grew its holdings in shares of Lowe’s Companies by 16.8% during the first quarter. ICONIQ Capital LLC now owns 2,128 shares of the home improvement retailer’s stock valued at $496,000 after buying an additional 306 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LOW shares. Telsey Advisory Group dropped their price target on shares of Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Jefferies Financial Group raised their target price on Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a report on Friday. DA Davidson cut their target price on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Oppenheimer lowered their price target on Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, December 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lowe’s Companies in a research note on Wednesday, December 10th. Seventeen investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $276.80.

Lowe’s Companies Trading Up 0.8%

Shares of LOW opened at $242.42 on Tuesday. The stock has a 50 day moving average of $239.85 and a 200 day moving average of $240.08. The company has a market capitalization of $135.99 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 3.99 and a beta of 0.96. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $274.98.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 19th. The home improvement retailer reported $3.06 earnings per share for the quarter, topping 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 negative return on equity of 55.86% and a net margin of 8.05%.The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.89 earnings per share. Lowe’s Companies has set its FY 2025 guidance at 12.250-12.250 EPS. As a group, equities research analysts predict 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 declared 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 is Wednesday, January 21st. This represents a $4.80 annualized dividend and a yield of 2.0%. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

Lowe’s Companies Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.