Fri Sep 20 13:44:15 UTC 2024: ## Institutional Investors Show Interest in Lowe’s Companies, Inc. (LOW)

**[City, State] – September 20, 2024** – Several institutional investors have adjusted their holdings in Lowe’s Companies, Inc. (NYSE: LOW), the home improvement retailer, in recent quarters.

**Virtu Financial LLC** increased its stake in LOW by 3.1% in the second quarter, owning 3,296 shares worth $727,000. Other notable investors include:

* **Brevan Howard Capital Management LP** boosted its position by 824.6% in the fourth quarter, now owning 15,339 shares worth $3,414,000.
* **Bamco Inc. NY** saw a 10.3% increase in its stake during the first quarter, currently owning 216,958 shares worth $55,266,000.
* **Plato Investment Management Ltd** significantly increased its stake by 655.9% in the first quarter, owning 6,304 shares valued at $1,606,000.

Institutional investors now own 74.06% of LOW stock.

**Analysts Remain Divided**

While some brokerages have upgraded their ratings on LOW, others have expressed caution. StockNews.com upgraded the stock to “buy”, while Piper Sandler dropped its price target to $262.00 and maintained an “overweight” rating. Bank of America cut its target price to $275.00 but kept a “buy” rating. Telsey Advisory Group reiterated a “market perform” rating with a $230.00 price target. Finally, JPMorgan Chase & Co. reduced its price objective to $270.00 while maintaining an “overweight” rating.

Overall, thirteen analysts rate LOW as a “hold” and eleven rate it as a “buy”, resulting in an average rating of “Hold” and an average target price of $253.33.

**Lowe’s Reports Strong Second Quarter Earnings**

Lowe’s recently reported earnings for the second quarter, exceeding analysts’ expectations with $4.10 earnings per share (EPS) on revenue of $23.59 billion. The company also announced a quarterly dividend of $1.15 per share, an increase from the previous $0.15.

**Insiders Show Confidence**

Dan Clayton Griggs, Jr., Lowe’s Chief Accounting Officer, sold 6,769 shares of LOW stock on September 12th for a total of $1,684,262.58. However, company insiders still own 0.26% of the company’s stock.

**Looking Ahead**

Lowe’s remains a popular choice for institutional investors, but analysts’ views on the stock remain somewhat mixed. The company’s strong second quarter earnings and dividend increase suggest a positive outlook, but it remains to be seen if the current market conditions will impact future performance.

Read More