Lowe’s Companies (NYSE:LOW) Stock Price Down 0.6%

Lowe’s Companies, Inc. (NYSE:LOW) shares traded down 0.6% on Tuesday . The stock traded as low as $268.52 and last traded at $269.12. 320,857 shares changed hands during trading, a decline of 87% from the average session volume of 2,473,672 shares. The stock had previously closed at $270.85.

Analyst Ratings Changes

Several research firms have commented on LOW. Morgan Stanley boosted their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Wells Fargo & Company lowered their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. TD Cowen increased their price objective on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a report on Thursday, September 19th. Finally, Gordon Haskett cut their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus price target of $260.00.

Lowe’s Companies Trading Up 1.0 %

The company has a market cap of $155.95 billion, a price-to-earnings ratio of 21.62, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The company has a fifty day moving average price of $246.83 and a two-hundred day moving average price of $236.29.

Lowe’s Companies (NYSE:LOW) last announced its quarterly 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 for 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 for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.56 EPS. Sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS 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 is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Insider Activity

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Lowe’s Companies

Several large investors have recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP grew its holdings in shares of Lowe’s Companies by 824.6% during the fourth quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after purchasing an additional 13,680 shares during the last quarter. Bamco Inc. NY increased its position in Lowe’s Companies by 10.3% in the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after acquiring an additional 20,181 shares in the last quarter. Plato Investment Management Ltd lifted its position in shares of Lowe’s Companies by 655.9% during the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after purchasing an additional 5,470 shares in the last quarter. 17 Capital Partners LLC bought a new stake in shares of Lowe’s Companies during the first quarter valued at approximately $1,368,000. Finally, Gerber LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $235,000. 74.06% of the stock is 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.