Bank of America Corp DE Trims Stake in Lowe's Companies, Inc. $LOW

Key Points

• Bank of America reduced its Lowe’s stake by 2.3% in the second quarter, selling 199,091 shares and retaining 8.29 million shares valued at approximately $1.83 billion. Institutional investors collectively own 74.06% of the company.
• Lowe’s reported quarterly EPS of $4.40, beating estimates of $4.22, while revenue rose 8.3% year over year to $25.96 billion but slightly missed expectations.
• The company declared a quarterly dividend of $1.25 per share, equal to a $5.00 annualized payout and a 2.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $257.63 versus the stock’s reported $198.28 price.

Bank of America Corp DE reduced its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,294,941 shares of the home improvement retailer's stock after selling 199,091 shares during the period. Bank of America Corp DE owned about 1.48% of Lowe's Companies worth $1,828,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Bontempo Ohly Capital Mgmt LLC raised its holdings in Lowe's Companies by 0.6% in the 2nd quarter. Bontempo Ohly Capital Mgmt LLC now owns 18,760 shares of the home improvement retailer's stock valued at $4,136,000 after buying an additional 110 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in shares of Lowe's Companies in the 2nd quarter valued at approximately $368,000. Cullen Capital Management LLC acquired a new position in shares of Lowe's Companies in the 2nd quarter worth approximately $139,207,000. Dearborn Partners LLC purchased a new position in shares of Lowe's Companies during the 2nd quarter worth approximately $834,000. Finally, Capital Square LLC acquired a new stake in Lowe's Companies in the 2nd quarter valued at approximately $570,000. Hedge funds and other institutional investors own 74.06% of the company's stock.

Insider Buying and Selling at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Pryor sold 9,330 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $224.81, for a total transaction of $2,097,477.30. Following the completion of the sale, the executive vice president owned 16,142 shares in the company, valued at $3,628,883.02. The trade was a 36.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Margrethe R. Vagell sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $223.83, for a total value of $559,575.00. Following the completion of the sale, the executive vice president directly owned 20,220 shares in the company, valued at approximately $4,525,842.60. This trade represents a 11.00% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.29% of the stock is currently owned by corporate insiders.

Lowe's Companies Trading Up 0.7%

NYSE:LOW opened at $198.28 on Tuesday. Lowe's Companies, Inc. has a 12-month low of $195.06 and a 12-month high of $293.06. The stock's 50 day simple moving average is $210.55 and its 200-day simple moving average is $224.13. The firm has a market cap of $111.24 billion, a P/E ratio of 16.76, a PEG ratio of 2.62 and a beta of 0.85.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data 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. Lowe's Companies had a negative return on equity of 75.67% and a net margin of 7.34%.The firm had revenue of $25.96 billion during the quarter, compared to analysts' expectations of $26.13 billion. During the same period in the previous year, the firm posted $4.33 earnings per share. Lowe's Companies's revenue was up 8.3% on a year-over-year basis. Lowe's Companies has set its FY 2026 guidance at 12.250-12.250 EPS. Research analysts forecast that Lowe's Companies, Inc. will post 12.26 EPS for the current fiscal year.

Lowe's Companies Announces Dividend

The company also recently announced 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 2.5%. The ex-dividend date of this dividend is Wednesday, October 21st. Lowe's Companies's payout ratio is presently 42.27%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LOW shares. KeyCorp reiterated an "overweight" rating and set a $275.00 target price on shares of Lowe's Companies in a report on Thursday, August 20th. The Goldman Sachs Group dropped their price target on shares of Lowe's Companies from $300.00 to $293.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. TD Cowen reaffirmed a "hold" rating and set a $235.00 price objective on shares of Lowe's Companies in a research report on Thursday, August 20th. Wolfe Research set a $254.00 price objective on Lowe's Companies in a research note on Thursday, May 21st. Finally, Jefferies Financial Group decreased their target price on Lowe's Companies from $305.00 to $278.00 and set a "buy" rating for the company 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $257.63.

Lowe's Companies Profile

Lowe's Companies, Inc is a home improvement retailer that serves homeowners, renters, and professional contractors primarily through stores and digital platforms in the United States. The company sells a broad selection of products for maintenance, repair, remodeling, and construction projects.

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

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