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

Bank of Nova Scotia grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 39.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,731 shares of the home improvement retailer’s stock after purchasing an additional 30,371 shares during the quarter. Bank of Nova Scotia’s holdings in Lowe’s Companies were worth $27,074,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its stake in Lowe’s Companies by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 55,306,162 shares of the home improvement retailer’s stock worth $13,898,992,000 after acquiring an additional 329,807 shares during the period. State Street Corp lifted its stake in shares of Lowe’s Companies by 0.8% during the 2nd quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock worth $5,527,176,000 after purchasing an additional 207,826 shares during the period. Norges Bank purchased a new position in shares of Lowe’s Companies during the 2nd quarter worth $1,773,624,000. Invesco Ltd. boosted its holdings in shares of Lowe’s Companies by 5.2% during the third quarter. Invesco Ltd. now owns 4,830,373 shares of the home improvement retailer’s stock worth $1,213,921,000 after purchasing an additional 240,123 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Lowe’s Companies by 12.1% during the third quarter. Bank of New York Mellon Corp now owns 4,294,776 shares of the home improvement retailer’s stock worth $1,079,320,000 after purchasing an additional 463,012 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

LOW stock opened at $242.30 on Tuesday. The firm has a market cap of $135.92 billion, a P/E ratio of 20.45, a price-to-earnings-growth ratio of 5.16 and a beta of 0.98. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $293.06. The stock has a 50-day simple moving average of $268.34 and a 200-day simple moving average of $254.00.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, February 25th. The home improvement retailer reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.04. The firm had revenue of $20.58 billion for the quarter, compared to the consensus estimate of $20.34 billion. Lowe’s Companies had a net margin of 7.71% and a negative return on equity of 61.40%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 EPS. Lowe’s Companies has set its FY 2026 guidance at 12.250-12.75 EPS. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Marvin R. Ellison sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the sale, the chief executive officer directly owned 231,043 shares in the company, valued at approximately $60,341,500.31. The trade was a 7.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Bank of America lowered their price target on Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating for the company in a report on Thursday, November 20th. JPMorgan Chase & Co. increased their price objective on shares of Lowe’s Companies from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. HSBC decreased their target price on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a research report on Friday, November 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $305.00 price target on shares of Lowe’s Companies in a research report on Wednesday, February 25th. Finally, UBS Group cut their price target on shares of Lowe’s Companies from $316.00 to $315.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Twenty-one analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $289.76.

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.