Lowe’s Companies (NYSE:LOW) Trading Up 0.3%

Lowe’s Companies, Inc. (NYSE:LOW) shares shot up 0.3% on Friday . The stock traded as high as $247.46 and last traded at $244.77. 361,995 shares were traded during trading, a decline of 86% from the average session volume of 2,504,060 shares. The stock had previously closed at $244.11.

Analyst Ratings Changes

LOW has been the subject of a number of analyst reports. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company reduced their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Gordon Haskett lowered their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research 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 for the company in a research report on Wednesday, August 21st. Finally, DA Davidson lowered their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, May 22nd. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $252.83.

Lowe’s Companies Stock Performance

The firm has a 50-day moving average of $236.53 and a 200-day moving average of $234.15. The firm has a market capitalization of $138.93 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 2.04 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter last year, the business earned $4.56 earnings per share. The business’s revenue was down 5.5% on a year-over-year basis. Equities analysts anticipate that Lowe’s Companies, Inc. will post 11.94 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LOW. Norges Bank purchased a new stake in Lowe’s Companies in the fourth quarter worth $1,638,746,000. Vanguard Group Inc. boosted its stake in shares of Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares in the last quarter. Strategic Financial Concepts LLC increased its position in shares of Lowe’s Companies by 20,275.6% during the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after buying an additional 1,199,100 shares during the period. M&G Plc bought a new position in Lowe’s Companies in the first quarter worth about $217,995,000. Finally, Pathstone Holdings LLC purchased a new stake in Lowe’s Companies in the fourth quarter worth about $126,615,000. Institutional investors own 74.06% of the company’s stock.

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.