Lowe’s Companies (NYSE:LOW) Price Target Raised to $245.00

Lowe’s Companies (NYSE:LOW) had its target price upped by Barclays from $229.00 to $245.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the home improvement retailer’s stock.

LOW has been the subject of a number of other reports. Evercore ISI increased their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Bank of America increased their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Finally, Piper Sandler increased their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $277.92.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $264.68 on Wednesday. The company has a fifty day moving average of $268.74 and a 200-day moving average of $244.83. The company has a market capitalization of $150.15 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. Lowe’s Companies has a 52-week low of $196.23 and a 52-week high of $287.01.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.74%. Lowe’s Companies’s payout ratio is presently 38.37%.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value 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 approximately $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction 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. This trade represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Lowe’s Companies

Several institutional investors have recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC bought a new position in shares of Lowe’s Companies during the third quarter valued at about $27,000. Stephens Consulting LLC raised its stake in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares in the last quarter. JNBA Financial Advisors raised its stake in Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 100 shares in the last quarter. MFA Wealth Advisors LLC raised its stake in Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 70 shares in the last quarter. Finally, Kimelman & Baird LLC bought a new position in Lowe’s Companies in the second quarter worth about $37,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

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.