The Manufacturers Life Insurance Company Reduces Stake in Lowe's Companies, Inc. $LOW

Key Points

• The Manufacturers Life Insurance Company cut its Lowe’s stake by 3.8% in the second quarter, selling 49,223 shares and retaining 1.23 million shares worth approximately $271.4 million. Institutional investors still own 74.06% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $257.63, despite several firms recently lowering their targets.
• Lowe’s reported quarterly EPS of $4.40, beating estimates of $4.22, while revenue rose 8.3% year over year to $25.96 billion. The company also announced a quarterly dividend of $1.25 per share, representing a 2.5% annualized yield.

The Manufacturers Life Insurance Company lessened its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,230,979 shares of the home improvement retailer's stock after selling 49,223 shares during the period. The Manufacturers Life Insurance Company owned 0.22% of Lowe's Companies worth $271,418,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Swiss RE Ltd. acquired a new position in shares of Lowe's Companies in the 4th quarter valued at $25,000. Wilkerson Advisory Group LLC purchased a new position in shares of Lowe's Companies during the fourth quarter worth about $27,000. Sankala Group LLC purchased a new position in shares of Lowe's Companies during the fourth quarter worth about $33,000. Markowski Investments acquired a new stake in shares of Lowe's Companies during the second quarter worth about $33,000. Finally, Triumph Capital Management purchased a new stake in shares of Lowe's Companies in the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 74.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LOW. Oppenheimer dropped their price target on Lowe's Companies from $315.00 to $275.00 and set an "outperform" rating on the stock in a research note on Monday, May 18th. The Goldman Sachs Group decreased their price objective on Lowe's Companies from $300.00 to $293.00 and set a "buy" rating for the company in a report on Thursday, May 21st. UBS Group lowered their target price on shares of 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. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $231.00 target price on shares of Lowe's Companies in a report on Thursday, August 20th. Finally, Evercore reduced 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 issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $257.63.

Insider Activity

In other news, EVP Janice Dupré sold 14,150 shares of the business's stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $221.90, for a total transaction of $3,139,885.00. Following the transaction, the executive vice president directly owned 39,785 shares in the company, valued at $8,828,291.50. The trade was a 26.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Juliette Pryor sold 9,330 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $224.81, for a total transaction of $2,097,477.30. Following the transaction, the executive vice president directly owned 16,142 shares of the company's stock, valued at $3,628,883.02. This represents a 36.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,980 shares of company stock valued at $5,796,937 over the last quarter. Corporate insiders own 0.29% of the company's stock.

Lowe's Companies Trading Down 1.1%

NYSE:LOW opened at $196.47 on Friday. Lowe's Companies, Inc. has a 12-month low of $195.06 and a 12-month high of $293.06. The stock's 50 day simple moving average is $211.67 and its 200-day simple moving average is $225.24. The firm has a market cap of $110.23 billion, a P/E ratio of 16.61, a PEG ratio of 2.64 and a beta of 0.85.

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

Lowe's Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders 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 annualized dividend and a dividend yield of 2.5%. Lowe's Companies's payout ratio is presently 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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