Lowe’s Companies (NYSE:LOW) Stock Price Up 1%

Lowe’s Companies, Inc. (NYSE:LOW) rose 1% on Tuesday . The stock traded as high as $267.90 and last traded at $264.84. Approximately 472,446 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 2,479,925 shares. The stock had previously closed at $262.29.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LOW. JPMorgan Chase & Co. cut their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Morgan Stanley lifted their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. TD Cowen increased their price objective on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Thursday, September 19th. Wedbush restated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Finally, Bank of America dropped their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $258.13.

Lowe’s Companies Price Performance

The company has a market cap of $151.28 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 2.03 and a beta of 1.10. The firm has a 50 day simple moving average of $244.18 and a 200-day simple moving average of $235.47.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.56 EPS. Research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a boost 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 1.73%. Lowe’s Companies’s payout ratio is presently 36.95%.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’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 owns 9,383 shares in the company, valued at $2,334,678.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Institutional Trading of Lowe’s Companies

Large investors have recently made changes to their positions in the company. 9258 Wealth Management LLC increased its stake in Lowe’s Companies by 24.8% in the fourth quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock valued at $531,000 after purchasing an additional 474 shares during the last quarter. Gryphon Financial Partners LLC boosted its stake in Lowe’s Companies by 10.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,441 shares of the home improvement retailer’s stock valued at $315,000 after acquiring an additional 138 shares in the last quarter. TrinityPoint Wealth LLC grew its holdings in shares of Lowe’s Companies by 1.5% during the fourth quarter. TrinityPoint Wealth LLC now owns 6,887 shares of the home improvement retailer’s stock worth $1,533,000 after purchasing an additional 101 shares during the last quarter. Congress Wealth Management LLC DE increased its position in shares of Lowe’s Companies by 14.0% during the fourth quarter. Congress Wealth Management LLC DE now owns 15,361 shares of the home improvement retailer’s stock worth $3,419,000 after purchasing an additional 1,882 shares in the last quarter. Finally, Evermay Wealth Management LLC lifted its holdings in shares of Lowe’s Companies by 24.5% in the 4th quarter. Evermay Wealth Management LLC now owns 1,617 shares of the home improvement retailer’s stock valued at $360,000 after purchasing an additional 318 shares during the last quarter. 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.