Lowe’s Companies (NYSE:LOW) Trading Down 0.1%

Lowe’s Companies, Inc. (NYSE:LOW) shares traded down 0.1% on Wednesday . The company traded as low as $255.55 and last traded at $256.38. 151,523 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 2,474,986 shares. The stock had previously closed at $256.72.

Analyst Ratings Changes

LOW has been the subject of several research reports. 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 report on Wednesday, August 21st. Evercore ISI lifted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, August 20th. DA Davidson lowered their target price on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. Finally, UBS Group lifted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Hold” and a consensus target price of $252.83.

Lowe’s Companies Price Performance

The stock has a 50-day moving average price of $241.71 and a 200 day moving average price of $234.94. The firm has a market cap of $146.11 billion, a PE ratio of 20.59, a P/E/G ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share 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 business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the prior year, the firm posted $4.56 EPS. The company’s revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.79%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Insider Buying and Selling at Lowe’s Companies

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Drive Wealth Management LLC increased its stake in shares of Lowe’s Companies by 2.2% in 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 during the last quarter. Crown Wealth Group LLC grew its holdings in Lowe’s Companies by 4.4% during the 2nd quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after acquiring an additional 44 shares in the last quarter. Pure Financial Advisors LLC raised its stake in shares of Lowe’s Companies by 2.5% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after purchasing an additional 45 shares in the last quarter. BLB&B Advisors LLC lifted its position in shares of Lowe’s Companies by 2.2% during the second quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock worth $454,000 after purchasing an additional 45 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its stake in Lowe’s Companies by 3.5% in the second quarter. Pathway Financial Advisers LLC now owns 1,331 shares of the home improvement retailer’s stock worth $292,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

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.