Lowe’s Companies (NYSE:LOW) Trading Up 0.9%

Lowe’s Companies, Inc. (NYSE:LOW)’s stock price was up 0.9% during trading on Tuesday . The company traded as high as $259.49 and last traded at $258.94. Approximately 274,272 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 2,481,709 shares. The stock had previously closed at $256.64.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LOW shares. Piper Sandler lowered their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. JPMorgan Chase & Co. lowered their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Evercore ISI boosted their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. Finally, Bank of America dropped their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $252.83.

Lowe’s Companies Stock Down 0.0 %

The stock has a market capitalization of $146.18 billion, a price-to-earnings ratio of 20.80, a P/E/G ratio of 2.03 and a beta of 1.10. The business has a 50-day simple moving average of $240.90 and a two-hundred day simple moving average of $234.86.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.56 earnings per share. On average, analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.79%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by corporate insiders.

Institutional Trading of Lowe’s Companies

Several large investors have recently added to or reduced their stakes in the company. Drive Wealth Management LLC boosted its holdings in shares of Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after buying an additional 41 shares during the period. Crown Wealth Group LLC boosted its holdings in shares of Lowe’s Companies by 4.4% during the 2nd quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after buying an additional 44 shares during the period. Pure Financial Advisors LLC boosted its holdings in shares of Lowe’s Companies by 2.5% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock worth $400,000 after buying an additional 45 shares during the period. BLB&B Advisors LLC boosted its holdings in shares of Lowe’s Companies by 2.2% during the 2nd quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock worth $454,000 after buying an additional 45 shares during the period. Finally, Pathway Financial Advisers LLC boosted its holdings in shares of Lowe’s Companies by 3.5% during the 2nd quarter. Pathway Financial Advisers LLC now owns 1,331 shares of the home improvement retailer’s stock worth $292,000 after buying an additional 45 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.