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

Bank of Nova Scotia lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 51.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Swiss RE Ltd. purchased a new position in shares of Lowe’s Companies during the 4th quarter valued at $25,000. Wilkerson Advisory Group LLC purchased a new stake in Lowe’s Companies in the 4th quarter worth $27,000. OLD Second National Bank of Aurora increased its stake in Lowe’s Companies by 52.5% in the 4th quarter. OLD Second National Bank of Aurora now owns 122 shares of the home improvement retailer’s stock worth $29,000 after buying an additional 42 shares in the last quarter. Sankala Group LLC bought a new stake in Lowe’s Companies during the fourth quarter valued at about $33,000. Finally, Triumph Capital Management bought a new stake in Lowe’s Companies during the third quarter valued at about $34,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 2.7%

Shares of LOW stock opened at $207.35 on Friday. The stock has a market capitalization of $116.26 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 2.62 and a beta of 0.86. Lowe’s Companies, Inc. has a 12-month low of $199.40 and a 12-month high of $293.06. The stock’s 50-day moving average price is $215.22 and its 200-day moving average price is $240.22.

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

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 22nd will be given a dividend of $1.25 per share. The ex-dividend date is Wednesday, July 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.20. Lowe’s Companies’s dividend payout ratio is currently 42.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. TD Cowen dropped their price objective on Lowe’s Companies from $280.00 to $235.00 and set a “hold” rating for the company in a research note on Thursday, May 21st. Sanford C. Bernstein decreased their target price on Lowe’s Companies from $303.00 to $281.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Benchmark assumed coverage on Lowe’s Companies in a report on Tuesday, May 12th. They issued a “hold” rating on the stock. HSBC dropped their price target on Lowe’s Companies from $260.00 to $220.00 and set a “hold” rating for the company in a research note on Thursday, May 21st. Finally, Wolfe Research set a $254.00 price objective on shares of Lowe’s Companies in a report on Thursday, May 21st. Twenty-three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $264.57.

Insider Activity at Lowe’s Companies

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

About Lowe’s Companies

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.