Wellington Management Group LLP Sells 557,347 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Wellington Management reduced its Lowe’s stake by 13.7%, selling 557,347 shares in the second quarter and retaining 3.51 million shares valued at approximately $775 million. Institutional investors collectively own 74.06% of the company.
• Lowe’s reported quarterly earnings of $4.40 per share, beating estimates of $4.22, while revenue rose 8.3% year over year to $25.96 billion but fell slightly short of expectations.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $258.53, despite several recent target-price reductions; Lowe’s shares opened at $208.20, below their 50-day and 200-day moving averages.

Wellington Management Group LLP cut its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 13.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,514,809 shares of the home improvement retailer's stock after selling 557,347 shares during the period. Wellington Management Group LLP owned about 0.63% of Lowe's Companies worth $774,980,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. raised its stake in shares of Lowe's Companies by 1.8% during the 2nd quarter. BlackRock Inc. now owns 40,545,728 shares of the home improvement retailer's stock worth $8,939,928,000 after purchasing an additional 714,092 shares during the period. State Street Corp grew its position in shares of Lowe's Companies by 0.5% during the 3rd 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 during the period. Geode Capital Management LLC increased its stake in shares of Lowe's Companies by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 13,326,581 shares of the home improvement retailer's stock worth $3,201,329,000 after purchasing an additional 887,579 shares during the last quarter. Norges Bank purchased a new stake in shares of Lowe's Companies during the 4th quarter worth approximately $1,993,697,000. Finally, Northern Trust Corp raised its holdings in shares of Lowe's Companies by 1.5% in the 3rd quarter. Northern Trust Corp now owns 6,830,080 shares of the home improvement retailer's stock worth $1,716,467,000 after purchasing an additional 103,827 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Margrethe R. Vagell sold 2,500 shares of the business's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $223.83, for a total transaction of $559,575.00. Following the completion of the transaction, the executive vice president owned 20,220 shares of the company's stock, valued at approximately $4,525,842.60. The trade was a 11.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Janice Dupre sold 14,150 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 39,785 shares in the company, valued at $8,828,291.50. This represents a 26.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 25,980 shares of company stock worth $5,796,937 over the last ninety days. 0.29% of the stock is owned by corporate insiders.

Lowe's Companies Trading Up 0.7%

Shares of Lowe's Companies stock opened at $208.20 on Friday. The company's 50-day moving average price is $215.10 and its 200-day moving average price is $230.79. Lowe's Companies, Inc. has a 12-month low of $199.40 and a 12-month high of $293.06. The company has a market cap of $116.74 billion, a price-to-earnings ratio of 17.60, a PEG ratio of 2.77 and a beta of 0.86.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its earnings results on Wednesday, August 19th. The home improvement retailer reported $4.40 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $25.96 billion for the quarter, compared to analyst estimates of $26.13 billion. During the same quarter in the prior year, the firm posted $4.33 EPS. Lowe's Companies's revenue was up 8.3% on a year-over-year basis. 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 year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Truist Financial dropped their price objective on Lowe's Companies from $255.00 to $254.00 and set a "buy" rating on the stock in a research note on Thursday, August 20th. BNP Paribas Exane decreased their target price on Lowe's Companies from $228.00 to $202.00 and set an "underperform" rating for the company in a research report on Thursday, May 21st. DA Davidson restated a "neutral" rating and issued a $245.00 target price on shares of Lowe's Companies in a research note on Wednesday, August 19th. UBS Group dropped their price target 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. Finally, The Goldman Sachs Group cut their price target on Lowe's Companies from $300.00 to $293.00 and set a "buy" rating for the company in a research note on Thursday, May 21st. Twenty-three investment 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's stock. According to MarketBeat, Lowe's Companies currently has an average rating of "Moderate Buy" and a consensus target price of $258.53.

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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