Lowe’s Companies (NYSE:LOW) Price Target Raised to $291.00 at Royal Bank of Canada

Lowe’s Companies (NYSE:LOW) had its target price increased by Royal Bank of Canada from $290.00 to $291.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a sector perform rating on the home improvement retailer’s stock.

LOW has been the topic of a number of other reports. Bank of America upped their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Piper Sandler upped their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. UBS Group lifted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Evercore ISI increased their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Finally, Stifel Nicolaus lifted their price objective on Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average price target of $277.92.

Lowe’s Companies Stock Performance

LOW stock opened at $264.68 on Wednesday. The stock’s 50 day moving average price is $268.74 and its 200 day moving average price is $244.83. The firm has a market cap of $150.15 billion, a P/E ratio of 22.08, a PEG ratio of 2.22 and a beta of 1.10. Lowe’s Companies has a 1 year low of $196.23 and a 1 year high of $287.01.

Lowe’s Companies Increases Dividend

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

Insider Transactions at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Crew Capital Management Ltd. grew its stake in shares of Lowe’s Companies by 1.0% in the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after acquiring an additional 37 shares during the last quarter. Summit Place Financial Advisors LLC raised its position in shares of Lowe’s Companies by 2.8% during the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after buying an additional 37 shares during the last quarter. Clean Yield Group raised its position in shares of Lowe’s Companies by 2.4% during the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after buying an additional 38 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in shares of Lowe’s Companies by 0.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after buying an additional 40 shares during the period. Finally, Drive Wealth Management LLC grew its position in Lowe’s Companies by 2.2% during the second 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 in the last quarter. 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.