Lowe’s Companies (NYSE:LOW) Stock Price Expected to Rise, Truist Financial Analyst Says

Lowe’s Companies (NYSE:LOW) had its price target increased by Truist Financial from $307.00 to $310.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the home improvement retailer’s stock.

LOW has been the topic of a number of other reports. Sanford C. Bernstein started coverage on Lowe’s Companies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 target price on the stock. Barclays boosted their price objective on Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a report on Wednesday. Royal Bank of Canada raised their target price on shares of Lowe’s Companies from $290.00 to $291.00 and gave the stock a “sector perform” rating in a report on Wednesday. Morgan Stanley boosted their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $277.92.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $264.68 on Wednesday. The firm has a market cap of $150.15 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth 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. The firm’s 50 day moving average price is $268.74 and its two-hundred day moving average price is $244.83.

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 represents a $4.60 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 38.37%.

Insider Activity at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Lowe’s Companies

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bamco Inc. NY grew its position in Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after purchasing an additional 20,181 shares in the last quarter. Plato Investment Management Ltd lifted its position in Lowe’s Companies by 655.9% during the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after buying an additional 5,470 shares in the last quarter. HM Payson & Co. boosted its stake in shares of Lowe’s Companies by 1.1% during the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after buying an additional 2,322 shares during the last quarter. Daymark Wealth Partners LLC grew its holdings in shares of Lowe’s Companies by 12.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after acquiring an additional 2,889 shares in the last quarter. Finally, AMF Tjanstepension AB increased its position in shares of Lowe’s Companies by 14.4% in the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after acquiring an additional 20,123 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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.