Bank of Nova Scotia Reduces Stock Holdings in Lowe’s Companies, Inc. $LOW

Bank of Nova Scotia lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 51.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 83,659 shares of the home improvement retailer’s stock after selling 87,817 shares during the quarter. Bank of Nova Scotia’s holdings in Lowe’s Companies were worth $19,767,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of LOW. Providence Wealth Advisors LLC boosted its stake in Lowe’s Companies by 0.5% during the fourth quarter. Providence Wealth Advisors LLC now owns 7,969 shares of the home improvement retailer’s stock worth $1,959,000 after buying an additional 36 shares during the period. Rather & Kittrell Inc. increased its position in Lowe’s Companies by 0.4% during the fourth quarter. Rather & Kittrell Inc. now owns 10,379 shares of the home improvement retailer’s stock valued at $2,503,000 after acquiring an additional 38 shares during the last quarter. First Command Advisory Services Inc. raised its stake in shares of Lowe’s Companies by 1.3% in the fourth quarter. First Command Advisory Services Inc. now owns 2,947 shares of the home improvement retailer’s stock valued at $711,000 after acquiring an additional 38 shares during the period. Walkner Condon Financial Advisors LLC raised its stake in shares of Lowe’s Companies by 4.3% in the fourth quarter. Walkner Condon Financial Advisors LLC now owns 945 shares of the home improvement retailer’s stock valued at $228,000 after acquiring an additional 39 shares during the period. Finally, Smithbridge Asset Management Inc. DE lifted its holdings in shares of Lowe’s Companies by 1.1% in the 4th quarter. Smithbridge Asset Management Inc. DE now owns 3,723 shares of the home improvement retailer’s stock worth $898,000 after acquiring an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

LOW stock opened at $207.35 on Friday. Lowe’s Companies, Inc. has a 12 month low of $199.40 and a 12 month high of $293.06. The firm’s 50-day moving average is $215.22 and its 200 day moving average is $240.22. The company has a market capitalization of $116.26 billion, a PE ratio of 17.53, a P/E/G ratio of 2.62 and a beta of 0.86.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, May 20th. The home improvement retailer reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.06. The company had revenue of $23.08 billion during the quarter, compared to analysts’ expectations of $22.98 billion. Lowe’s Companies had a net margin of 7.51% and a negative return on equity of 67.96%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.92 EPS. Lowe’s Companies has set its FY 2026 guidance at 12.250-12.750 EPS. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 12.48 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, July 22nd will be issued a $1.25 dividend. The ex-dividend date is Wednesday, July 22nd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.20. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 42.27%.

Wall Street Analyst Weigh In

A number of research firms recently commented on LOW. Piper Sandler dropped their price target on shares of Lowe’s Companies from $300.00 to $276.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Raymond James Financial lowered shares of Lowe’s Companies from a “market perform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Evercore decreased their price objective on shares of Lowe’s Companies from $250.00 to $230.00 in a research note on Thursday, May 21st. TD Cowen dropped their target price on Lowe’s Companies from $280.00 to $235.00 and set a “hold” rating for the company in a research report on Thursday, May 21st. Finally, Citigroup raised Lowe’s Companies from a “neutral” rating to a “buy” rating and set a $285.00 target price on the stock in a research note on Tuesday, May 12th. Twenty-three equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $264.57.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 2,500 shares of Lowe’s Companies stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $223.83, for a total transaction of $559,575.00. Following the completion of the sale, the executive vice president directly owned 20,220 shares of the company’s stock, valued at $4,525,842.60. The trade was a 11.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Janice Dupre sold 14,150 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $221.90, for a total value of $3,139,885.00. Following the completion of the sale, the executive vice president owned 39,785 shares of the company’s stock, valued at $8,828,291.50. This represents a 26.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 25,980 shares of company stock valued at $5,796,937 over the last quarter. 0.29% of the stock is owned by corporate insiders.

Lowe’s Companies Company 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.