Lowe's Companies, Inc. $LOW Shares Sold by Bank of America Corp DE

Key Points

• Bank of America cut its Lowe’s stake by 8.9% in the first quarter, selling 829,573 shares and retaining 8.49 million shares valued at approximately $2.01 billion. Institutional investors and hedge funds collectively own 74.06% of the company.
• Lowe’s insiders sold 25,980 shares worth about $5.8 million over the past 90 days, including sales by executives Margrethe Vagell and Juliette Williams Pryor.
• Lowe’s beat first-quarter earnings and revenue expectations, reporting $3.03 in EPS and $23.08 billion in revenue, while raising its quarterly dividend to $1.25. Analysts maintain a “Moderate Buy” consensus with an average price target of $264.57.

Bank of America Corp DE decreased its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 8.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,494,032 shares of the home improvement retailer's stock after selling 829,573 shares during the quarter. Bank of America Corp DE owned 1.52% of Lowe's Companies worth $2,006,970,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of LOW. Edgestream Partners L.P. acquired a new position in Lowe's Companies during the 1st quarter valued at about $3,473,000. Kentucky Retirement Systems lifted its stake in shares of Lowe's Companies by 145.4% in the 1st quarter. Kentucky Retirement Systems now owns 86,345 shares of the home improvement retailer's stock worth $20,402,000 after acquiring an additional 51,156 shares during the period. Oddo BHF Asset Management Sas boosted its holdings in shares of Lowe's Companies by 4.2% in the first quarter. Oddo BHF Asset Management Sas now owns 41,204 shares of the home improvement retailer's stock valued at $9,736,000 after acquiring an additional 1,665 shares in the last quarter. Strategic Investment Advisors MI boosted its holdings in shares of Lowe's Companies by 48.9% in the first quarter. Strategic Investment Advisors MI now owns 2,781 shares of the home improvement retailer's stock valued at $656,000 after acquiring an additional 913 shares in the last quarter. Finally, Arkadios Wealth Advisors increased its stake in shares of Lowe's Companies by 4.4% during the first quarter. Arkadios Wealth Advisors now owns 23,894 shares of the home improvement retailer's stock valued at $5,646,000 after acquiring an additional 1,005 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Margrethe R. Vagell sold 2,500 shares of the firm's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $223.83, for a total transaction of $559,575.00. Following the transaction, the executive vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Juliette Williams Pryor sold 9,330 shares of Lowe's Companies 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 directly owned 16,142 shares of the company's stock, valued at approximately $3,628,883.02. The trade was a 36.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 25,980 shares of company stock valued at $5,796,937 over the last ninety days. Corporate insiders own 0.29% of the company's stock.

Lowe's Companies Price Performance

LOW opened at $210.27 on Friday. The company has a market capitalization of $117.90 billion, a PE ratio of 17.77, a price-to-earnings-growth ratio of 2.72 and a beta of 0.86. Lowe's Companies, Inc. has a fifty-two week low of $199.40 and a fifty-two week high of $293.06. The business has a 50-day moving average of $214.82 and a 200-day moving average of $239.05.

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

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Wednesday, July 22nd will be given a $1.25 dividend. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 22nd. Lowe's Companies's payout ratio is presently 42.27%.

Analyst Ratings Changes

Several equities research analysts recently commented on LOW shares. The Goldman Sachs Group dropped their target price on Lowe's Companies from $300.00 to $293.00 and set a "buy" rating on the stock in a report on Thursday, May 21st. HSBC decreased 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. Truist Financial dropped their price objective on Lowe's Companies from $280.00 to $255.00 and set a "buy" rating on the stock in a research note on Thursday, May 21st. Bank of America dropped their price target on Lowe's Companies from $260.00 to $257.00 and set a "neutral" rating on the stock in a research report on Thursday, May 21st. Finally, Weiss Ratings downgraded Lowe's Companies from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, June 4th. Twenty-three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Lowe's Companies currently has a consensus rating of "Moderate Buy" and a consensus price target of $264.57.

Lowe's Companies Company Profile

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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