Lowe's Companies, Inc. $LOW Shares Purchased by Bridges Investment Management Inc.

Key Points

• Bridges Investment Management increased its stake in Lowe’s by 6.1% in the fourth quarter, holding 446,441 shares worth about $107.7 million.
• Lowe’s reported better-than-expected quarterly results, with EPS of $3.03 versus $2.97 expected and revenue of $23.08 billion, up 10.3% year over year.
• The company also raised its quarterly dividend to $1.25 per share from $1.20, bringing the annualized yield to about 2.4%.

Bridges Investment Management Inc. boosted its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 446,441 shares of the home improvement retailer's stock after acquiring an additional 25,609 shares during the period. Lowe's Companies accounts for 1.4% of Bridges Investment Management Inc.'s portfolio, making the stock its 21st largest position. Bridges Investment Management Inc. owned approximately 0.08% of Lowe's Companies worth $107,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Lowe's Companies by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 56,230,787 shares of the home improvement retailer's stock valued at $13,560,617,000 after acquiring an additional 924,625 shares in the last quarter. State Street Corp raised its holdings in Lowe's Companies by 0.5% in the third quarter. State Street Corp now owns 25,036,276 shares of the home improvement retailer's stock valued at $6,291,867,000 after acquiring an additional 124,501 shares in the last quarter. Geode Capital Management LLC raised its holdings in Lowe's Companies by 7.1% in the fourth quarter. Geode Capital Management LLC now owns 13,326,581 shares of the home improvement retailer's stock valued at $3,201,329,000 after acquiring an additional 887,579 shares in the last quarter. Norges Bank acquired a new stake in Lowe's Companies in the fourth quarter valued at $1,993,697,000. Finally, Northern Trust Corp raised its holdings in Lowe's Companies by 1.5% in the third quarter. Northern Trust Corp now owns 6,830,080 shares of the home improvement retailer's stock valued at $1,716,467,000 after acquiring an additional 103,827 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe's Companies Stock Performance

Lowe's Companies stock opened at $206.43 on Wednesday. The company has a 50-day simple moving average of $232.06 and a 200-day simple moving average of $247.26. The firm has a market capitalization of $115.75 billion, a P/E ratio of 17.45, a P/E/G ratio of 2.62 and a beta of 0.86. Lowe's Companies, Inc. has a one year low of $204.51 and a one year high of $293.06.

Lowe's Companies (NYSE:LOW - Get Free Report) last released 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. The business had revenue of $23.08 billion during the quarter, compared to analyst estimates of $22.98 billion. Lowe's Companies had a net margin of 7.51% and a negative return on equity of 67.96%. The company's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.92 earnings per share. Lowe's Companies has set its FY 2026 guidance at 12.250-12.750 EPS. As a group, sell-side analysts forecast that Lowe's Companies, Inc. will post 12.5 earnings per share for the current year.

Lowe's Companies Increases Dividend

The business also recently disclosed 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 of this dividend is Wednesday, July 22nd. This is an increase 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%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Evercore cut their price target on shares of Lowe's Companies from $250.00 to $230.00 in a report on Thursday, May 21st. HSBC lowered their target price on shares of 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. Stifel Nicolaus lowered their target price on shares of Lowe's Companies from $270.00 to $220.00 and set a "hold" rating for the company in a research note on Monday, May 18th. Citigroup upgraded shares of Lowe's Companies from a "neutral" rating to a "buy" rating and set a $285.00 target price for the company in a research note on Tuesday, May 12th. Finally, Truist Financial lowered their target price on shares of Lowe's Companies from $280.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. Twenty-three equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $264.57.

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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