Lowe’s Companies (NYSE:LOW) Stock Price Down 0.3%

Lowe’s Companies, Inc. (NYSE:LOW) was down 0.3% during trading on Monday . The stock traded as low as $258.28 and last traded at $259.47. Approximately 220,567 shares traded hands during trading, a decline of 91% from the average daily volume of 2,480,239 shares. The stock had previously closed at $260.14.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LOW shares. JPMorgan Chase & Co. decreased their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Gordon Haskett decreased their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Truist Financial lifted their price objective on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Piper Sandler reduced their target price on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Finally, Morgan Stanley lifted their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average target price of $255.00.

Lowe’s Companies Stock Performance

The stock’s 50-day simple moving average is $243.58 and its 200-day simple moving average is $235.32. The firm has a market capitalization of $149.06 billion, a PE ratio of 20.92, a P/E/G ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion for the quarter, compared to analyst estimates 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 was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.56 earnings per share. As a group, analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors 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 1.76%. 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 (DPR) is presently 36.95%.

Insiders Place Their Bets

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred 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 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 Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Lowe’s Companies

A number of institutional investors and hedge funds have recently bought and sold shares of LOW. Voisard Asset Management Group Inc. purchased a new position in Lowe’s Companies in the 4th quarter worth approximately $28,000. Keener Financial Planning LLC purchased a new position in shares of Lowe’s Companies in the first quarter worth $35,000. Transcendent Capital Group LLC bought a new position in shares of Lowe’s Companies during the fourth quarter valued at $31,000. Stephens Consulting LLC lifted its holdings in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares in the last quarter. Finally, Kimelman & Baird LLC purchased a new stake in shares of Lowe’s Companies during the second quarter valued at $37,000. 74.06% of the stock is currently owned by institutional investors.

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.