Nomura Asset Management Co. Ltd. Sells 13,254 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Nomura Asset Management trimmed its Lowe’s stake by 3.3% in the fourth quarter, selling 13,254 shares and leaving it with 394,071 shares valued at about $95.0 million.
• Lowe’s reported better-than-expected quarterly results, with EPS of $3.03 versus $2.97 expected and revenue of $23.08 billion versus $22.98 billion forecast, while revenue rose 10.3% year over year.
• The company also raised its quarterly dividend to $1.25 per share from $1.20, bringing the annualized payout to $5.00 and the yield to about 2.3%.

Nomura Asset Management Co. Ltd. decreased its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 394,071 shares of the home improvement retailer's stock after selling 13,254 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.07% of Lowe's Companies worth $95,034,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Rockline Wealth Management LLC lifted its holdings in Lowe's Companies by 5.2% in the fourth quarter. Rockline Wealth Management LLC now owns 16,476 shares of the home improvement retailer's stock valued at $3,974,000 after acquiring an additional 815 shares during the period. Essex Financial Services Inc. lifted its holdings in Lowe's Companies by 1.1% in the fourth quarter. Essex Financial Services Inc. now owns 5,523 shares of the home improvement retailer's stock valued at $1,332,000 after acquiring an additional 58 shares during the period. MUFG Securities EMEA plc lifted its holdings in Lowe's Companies by 114.3% in the fourth quarter. MUFG Securities EMEA plc now owns 22,983 shares of the home improvement retailer's stock valued at $5,543,000 after acquiring an additional 12,256 shares during the period. Texas Yale Capital Corp. lifted its holdings in Lowe's Companies by 12.9% in the fourth quarter. Texas Yale Capital Corp. now owns 5,301 shares of the home improvement retailer's stock valued at $1,278,000 after acquiring an additional 605 shares during the period. Finally, Black Cypress Capital Management LLC raised its stake in shares of Lowe's Companies by 9.7% in the fourth quarter. Black Cypress Capital Management LLC now owns 17,434 shares of the home improvement retailer's stock worth $4,204,000 after buying an additional 1,547 shares during the period. Institutional investors own 74.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LOW shares. Morgan Stanley lowered their price objective on Lowe's Companies from $292.00 to $277.00 and set an "overweight" rating on the stock in a research report on Thursday, May 21st. Truist Financial lowered their price objective on Lowe's Companies from $280.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, May 21st. Guggenheim lifted their price objective on Lowe's Companies from $280.00 to $300.00 and gave the company a "buy" rating in a research report on Thursday, February 26th. William Blair initiated coverage on shares of Lowe's Companies in a research report on Tuesday, May 12th. They issued an "overweight" rating for the company. Finally, Evercore dropped their price target on shares of Lowe's Companies from $250.00 to $230.00 in a research report 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 given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $264.57.

Lowe's Companies Price Performance

LOW opened at $214.45 on Friday. The firm has a market cap of $120.11 billion, a P/E ratio of 18.13, a PEG ratio of 2.70 and a beta of 0.91. Lowe's Companies, Inc. has a 1-year low of $208.00 and a 1-year high of $293.06. The company has a 50 day simple moving average of $232.49 and a two-hundred day simple moving average of $247.36.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Wednesday, May 20th. The home improvement retailer reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.06. The company had revenue of $23.08 billion for the quarter, compared to the consensus estimate of $22.98 billion. Lowe's Companies had a negative return on equity of 67.96% and a net margin of 7.51%.The firm's quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company earned $2.92 EPS. Lowe's Companies has set its FY 2026 guidance at 12.250-12.750 EPS. Equities analysts anticipate that Lowe's Companies, Inc. will post 12.5 earnings per share for the current year.

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, July 22nd will be paid a dividend of $1.25 per share. This is a boost from Lowe's Companies's previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Wednesday, July 22nd. This represents a $5.00 annualized dividend and a yield of 2.3%. Lowe's Companies's dividend payout ratio is 40.57%.

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.

Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe's Companies, Inc. (NYSE:LOW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.