Brokerages Set Lowe’s Companies, Inc. (NYSE:LOW) PT at $265.63

Shares of Lowe’s Companies, Inc. (NYSE:LOW) have received a consensus rating of “Moderate Buy” from the twenty-four ratings firms that are currently covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $266.88.

A number of research firms recently issued reports on LOW. Melius Research started coverage on Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target for the company. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their target price for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Wedbush reaffirmed a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Truist Financial lifted their price objective on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Telsey Advisory Group upped their target price on shares of Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research report on Wednesday, October 2nd.

Insiders Place Their Bets

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’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 owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LOW. Chilton Investment Co. Inc. grew its stake in Lowe’s Companies by 9.5% in the fourth quarter. Chilton Investment Co. Inc. now owns 3,903 shares of the home improvement retailer’s stock valued at $869,000 after purchasing an additional 338 shares in the last quarter. Bontempo Ohly Capital Mgmt LLC grew its stake in shares of Lowe’s Companies by 3.3% in the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 18,844 shares of the home improvement retailer’s stock valued at $4,194,000 after buying an additional 610 shares in the last quarter. Gillson Capital LP increased its holdings in Lowe’s Companies by 47.1% during the fourth quarter. Gillson Capital LP now owns 24,037 shares of the home improvement retailer’s stock worth $5,349,000 after buying an additional 7,697 shares during the last quarter. Financial Network Wealth Advisors LLC bought a new stake in Lowe’s Companies during the fourth quarter worth $275,000. Finally, Public Sector Pension Investment Board lifted its stake in Lowe’s Companies by 41.1% in the fourth quarter. Public Sector Pension Investment Board now owns 416,887 shares of the home improvement retailer’s stock valued at $92,778,000 after acquiring an additional 121,497 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Up 0.9 %

Shares of LOW opened at $275.76 on Friday. The company’s fifty day moving average is $252.80 and its 200-day moving average is $237.58. Lowe’s Companies has a 12 month low of $181.85 and a 12 month high of $278.10. The firm has a market cap of $157.14 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results 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. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the business posted $4.56 earnings per share. The firm’s revenue was down 5.5% compared to the same quarter last year. As a group, research analysts predict that Lowe’s Companies will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.67%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

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.