State Street Corp Acquires 880,815 Shares of Lowe's Companies, Inc. $LOW

Key Points

• State Street increased its Lowe’s position by 3.6%, purchasing 880,815 additional shares and bringing its total holdings to 25.3 million shares worth approximately $5.58 billion. Institutional investors own 74.06% of Lowe’s stock.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $257.63, despite several firms recently lowering their targets.
• Lowe’s shares rose 2.4% to $195.52 after the company reported quarterly EPS of $4.40, exceeding estimates, while revenue increased 8.3% year over year. The company also declared a quarterly dividend of $1.25, or $5.00 annually.

State Street Corp increased its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,329,373 shares of the home improvement retailer's stock after purchasing an additional 880,815 shares during the quarter. State Street Corp owned 4.51% of Lowe's Companies worth $5,584,873,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in LOW. Sankala Group LLC purchased a new stake in Lowe's Companies during the 4th quarter valued at about $33,000. Markowski Investments purchased a new position in Lowe's Companies in the 2nd quarter worth approximately $33,000. IAG Wealth Partners LLC lifted its position in Lowe's Companies by 178.6% in the first quarter. IAG Wealth Partners LLC now owns 156 shares of the home improvement retailer's stock valued at $37,000 after purchasing an additional 100 shares during the last quarter. RHL Group LLC purchased a new stake in Lowe's Companies during the 4th quarter valued at $40,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Lowe's Companies during the fourth quarter worth about $43,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LOW has been the subject of several research analyst reports. Citigroup lowered their price objective on shares of Lowe's Companies from $267.00 to $260.00 and set a "buy" rating for the company in a report on Thursday, August 20th. KeyCorp reaffirmed an "overweight" rating and issued a $275.00 target price on shares of Lowe's Companies in a report on Thursday, August 20th. Truist Financial reduced their price target on shares of Lowe's Companies from $255.00 to $254.00 and set a "buy" rating for the company in a research report on Thursday, August 20th. Guggenheim restated a "buy" rating and issued a $275.00 price objective on shares of Lowe's Companies in a report on Monday. Finally, UBS Group lowered their price objective on Lowe's Companies from $285.00 to $275.00 and set a "buy" rating on the stock in a research report on Thursday, August 20th. 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. According to data from MarketBeat.com, Lowe's Companies currently has a consensus rating of "Moderate Buy" and an average target price of $257.63.

Lowe's Companies Stock Up 2.4%

LOW traded up $4.54 during midday trading on Tuesday, hitting $195.52. 1,193,506 shares of the company traded hands, compared to its average volume of 2,921,042. The company's 50-day moving average is $208.56 and its 200 day moving average is $221.73. The firm has a market capitalization of $109.70 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 2.56 and a beta of 0.85. Lowe's Companies, Inc. has a 52 week low of $188.22 and a 52 week high of $293.06.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, August 19th. The home improvement retailer reported $4.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.22 by $0.18. Lowe's Companies had a net margin of 7.34% and a negative return on equity of 75.67%. The company had revenue of $25.96 billion during the quarter, compared to analyst estimates of $26.13 billion. During the same period in the previous year, the business posted $4.33 earnings per share. The firm's quarterly revenue was up 8.3% compared to the same quarter last year. Lowe's Companies has set its FY 2026 guidance at 12.250-12.250 EPS. On average, sell-side analysts predict that Lowe's Companies, Inc. will post 12.26 earnings per share for the current fiscal year.

Lowe's Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Wednesday, October 21st will be issued a $1.25 dividend. The ex-dividend date of this dividend is Wednesday, October 21st. This represents a $5.00 dividend on an annualized basis and a yield of 2.6%. Lowe's Companies's payout ratio is currently 42.27%.

About Lowe's Companies

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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