Mirae Asset Global Investments Co. Ltd. Makes New $29.25 Million Investment in Lowe’s Companies, Inc. $LOW

Mirae Asset Global Investments Co. Ltd. bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 158,696 shares of the home improvement retailer’s stock, valued at approximately $29,246,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Lowe’s Companies by 1.8% during the 2nd quarter. BlackRock Inc. now owns 40,545,728 shares of the home improvement retailer’s stock worth $8,939,928,000 after buying an additional 714,092 shares in the last quarter. State Street Corp boosted its stake in Lowe’s Companies by 3.6% in the second quarter. State Street Corp now owns 25,329,373 shares of the home improvement retailer’s stock valued at $5,584,873,000 after buying an additional 880,815 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Lowe’s Companies by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 4,104,782 shares of the home improvement retailer’s stock valued at $905,063,000 after buying an additional 57,167 shares in the last quarter. Amundi grew its position in Lowe’s Companies by 57.3% in the second quarter. Amundi now owns 2,892,868 shares of the home improvement retailer’s stock valued at $637,848,000 after acquiring an additional 1,053,237 shares during the last quarter. Finally, Swiss National Bank grew its position in Lowe’s Companies by 7.1% in the first quarter. Swiss National Bank now owns 1,646,320 shares of the home improvement retailer’s stock valued at $388,992,000 after acquiring an additional 109,520 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LOW. Telsey Advisory Group lowered their target price on Lowe’s Companies from $280.00 to $260.00 and set an “outperform” rating for the company in a research note on Thursday, August 20th. KeyCorp restated an “overweight” rating and issued a $275.00 price target on shares of Lowe’s Companies in a research note on Thursday, August 20th. Melius Research set a $244.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, October 6th. Weiss Ratings downgraded Lowe’s Companies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 17th. Finally, DA Davidson restated a “neutral” rating and set a $245.00 target price on shares of Lowe’s Companies in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus price target of $253.48.

Lowe’s Companies Stock Up 4.3%

NYSE:LOW opened at $218.00 on Tuesday. Lowe’s Companies, Inc. has a twelve month low of $178.45 and a twelve month high of $293.06. The company has a fifty day moving average of $196.26 and a 200-day moving average of $226.15. The firm has a market capitalization of $122.31 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.66 and a beta of 0.89.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 19th. The home improvement retailer reported $4.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.22 by $0.18. The business had revenue of $25.96 billion for the quarter, compared to analyst estimates of $26.13 billion. Lowe’s Companies had a net margin of 7.34% and a negative return on equity of 75.67%. Lowe’s Companies’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.33 earnings per share. Lowe’s Companies has set its FY 2026 guidance at 12.250-12.250 EPS. On average, analysts anticipate that Lowe’s Companies, Inc. will post 12.25 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Wednesday, October 21st will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, October 21st. Lowe’s Companies’s dividend payout ratio is 42.27%.

Lowe’s Companies Profile

Lowe’s Companies, Inc is a home improvement retailer serving do-it-yourself customers, professional contractors and commercial customers across the United States. The company sells products for home construction, maintenance, repair, remodeling and improvement through its stores and digital platforms.

Its merchandise includes appliances, tools, hardware, lumber, building materials, electrical and plumbing supplies, paint, flooring, kitchen and bathroom products, outdoor living items, lawn and garden products, and seasonal merchandise.