Bank of New York Mellon Corp Acquires 201,803 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Bank of New York Mellon boosted its Lowe’s stake by 5.2% in Q1, adding 201,803 shares and bringing its total holding to about 4.05 million shares valued at roughly $956.4 million.
• Lowe’s posted stronger-than-expected quarterly results, with EPS of $3.03 versus the $2.97 estimate and revenue of $23.08 billion, while revenue rose 10.3% year over year.
• The company raised its quarterly dividend to $1.25 per share from $1.20, while analysts currently maintain a consensus rating of Moderate Buy with an average price target of $264.57.

Bank of New York Mellon Corp raised its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 5.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,047,615 shares of the home improvement retailer's stock after acquiring an additional 201,803 shares during the period. Bank of New York Mellon Corp owned about 0.72% of Lowe's Companies worth $956,371,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Providence Wealth Advisors LLC lifted its holdings in shares of Lowe's Companies by 0.5% during the 4th quarter. Providence Wealth Advisors LLC now owns 7,969 shares of the home improvement retailer's stock valued at $1,959,000 after purchasing an additional 36 shares in the last quarter. Rather & Kittrell Inc. increased its stake in Lowe's Companies by 0.4% during the 4th quarter. Rather & Kittrell Inc. now owns 10,379 shares of the home improvement retailer's stock worth $2,503,000 after purchasing an additional 38 shares in the last quarter. First Command Advisory Services Inc. increased its stake in Lowe's Companies by 1.3% during the 4th quarter. First Command Advisory Services Inc. now owns 2,947 shares of the home improvement retailer's stock worth $711,000 after purchasing an additional 38 shares in the last quarter. Walkner Condon Financial Advisors LLC raised its holdings in Lowe's Companies by 4.3% during the 4th quarter. Walkner Condon Financial Advisors LLC now owns 945 shares of the home improvement retailer's stock worth $228,000 after buying an additional 39 shares during the period. Finally, Smithbridge Asset Management Inc. DE raised its holdings in Lowe's Companies by 1.1% during the 4th quarter. Smithbridge Asset Management Inc. DE now owns 3,723 shares of the home improvement retailer's stock worth $898,000 after buying an additional 39 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wolfe Research set a $254.00 price target on shares of Lowe's Companies in a research note on Thursday, May 21st. Raymond James Financial downgraded shares of Lowe's Companies from a "market perform" rating to a "market perform" rating in a research report on Tuesday, May 12th. Royal Bank Of Canada cut their price objective on shares of Lowe's Companies from $264.00 to $232.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 21st. BTIG Research lowered shares of Lowe's Companies to a "reduce" rating in a research note on Tuesday, May 12th. Finally, Telsey Advisory Group lowered their target price on Lowe's Companies from $295.00 to $280.00 and set an "outperform" rating for the company in a report on Thursday, May 21st. Twenty-three analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $264.57.

Insider Buying and Selling

In related news, EVP Margrethe R. Vagell sold 2,500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 20,220 shares of the company's stock, valued at approximately $4,525,842.60. This represents 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 Juliette Williams Pryor sold 9,330 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $224.81, for a total value of $2,097,477.30. Following the completion of the transaction, the executive vice president owned 16,142 shares of the company's stock, valued at approximately $3,628,883.02. This represents a 36.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 25,980 shares of company stock worth $5,796,937. Corporate insiders own 0.29% of the company's stock.

Lowe's Companies Trading Up 0.8%

Lowe's Companies stock opened at $209.44 on Thursday. Lowe's Companies, Inc. has a 1-year low of $203.40 and a 1-year high of $293.06. The company has a fifty day simple moving average of $217.75 and a 200 day simple moving average of $242.00. The company has a market cap of $117.44 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 2.62 and a beta of 0.86.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 20th. The home improvement retailer reported $3.03 EPS for the quarter, topping the consensus estimate of $2.97 by $0.06. Lowe's Companies had a net margin of 7.51% and a negative return on equity of 67.96%. The firm had revenue of $23.08 billion for the quarter, compared to analysts' expectations of $22.98 billion. During the same period in the previous year, the firm posted $2.92 EPS. The company's revenue for the quarter was up 10.3% on a year-over-year basis. Lowe's Companies has set its FY 2026 guidance at 12.250-12.750 EPS. On average, equities research analysts forecast that Lowe's Companies, Inc. will post 12.48 EPS for the current year.

Lowe's Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, July 22nd will be issued a dividend of $1.25 per share. The ex-dividend date is Wednesday, July 22nd. This is a boost from Lowe's Companies's previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 2.4%. Lowe's Companies's dividend payout ratio is currently 40.57%.

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.

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