Lowe’s Companies (NYSE:LOW – Free Report) had its target price raised by Piper Sandler from $262.00 to $307.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the home improvement retailer’s stock.
Other equities analysts also recently issued reports about the company. Truist Financial raised their price target on Lowe’s Companies from $265.00 to $269.00 and gave the company a buy rating in a report on Wednesday, August 21st. Oppenheimer upgraded shares of Lowe’s Companies from a market perform rating to an outperform rating and raised their price objective for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Telsey Advisory Group reiterated a market perform rating and issued a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday, August 20th. StockNews.com upgraded shares of Lowe’s Companies from a hold rating to a buy rating in a report on Wednesday, September 18th. Finally, Melius Research initiated coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a buy rating and a $290.00 price objective for the company. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $263.54.
Lowe’s Companies Price Performance
Lowe’s Companies (NYSE:LOW – Get Free Report) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s revenue was down 5.5% on a year-over-year basis. During the same period last year, the business earned $4.56 earnings per share. Research analysts expect that Lowe’s Companies will post 11.93 earnings per share for the current fiscal year.
Lowe’s Companies Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is 36.95%.
Insider Buying and Selling
In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, 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 accessible through the SEC website. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.
Institutional Investors Weigh In On Lowe’s Companies
A number of institutional investors have recently bought and sold shares of LOW. Voisard Asset Management Group Inc. purchased a new position in shares of Lowe’s Companies in the fourth quarter valued at about $28,000. Keener Financial Planning LLC bought a new stake in Lowe’s Companies during the 1st quarter valued at approximately $35,000. Transcendent Capital Group LLC purchased a new position in Lowe’s Companies in the 4th quarter worth approximately $31,000. Stephens Consulting LLC lifted its holdings in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new position in Lowe’s Companies in the 2nd quarter worth approximately $37,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.
About Lowe’s Companies
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.
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