Lowe's Companies (NYSE:LOW) Given New $306.00 Price Target at Truist Financial

Lowe's Companies (NYSE:LOW - Free Report) had its price objective hoisted by Truist Financial from $269.00 to $306.00 in a research note published on Monday, Benzinga reports. The brokerage currently has a buy rating on the home improvement retailer's stock.

Several other brokerages have also weighed in on LOW. Melius Research began coverage on Lowe's Companies in a report on Monday, September 23rd. They set a buy rating and a $290.00 price objective on the stock. Wells Fargo & Company lowered their price target on shares of Lowe's Companies from $290.00 to $280.00 and set an overweight rating on the stock in a report on Wednesday, August 21st. UBS Group raised their price objective on shares of Lowe's Companies from $270.00 to $290.00 and gave the stock a buy rating in a report on Wednesday, August 21st. TD Cowen upped their target price on shares of Lowe's Companies from $240.00 to $265.00 and gave the company a hold rating in a research note on Thursday, September 19th. Finally, Gordon Haskett cut their price target on shares of Lowe's Companies from $245.00 to $240.00 and set a hold rating for the company in a research note on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Lowe's Companies presently has a consensus rating of Moderate Buy and a consensus target price of $268.42.

Lowe's Companies Stock Up 1.9 %

LOW stock traded up $5.21 during mid-day trading on Monday, reaching $280.97. 1,759,756 shares of the stock traded hands, compared to its average volume of 2,461,304. The firm has a market capitalization of $160.11 billion, a PE ratio of 22.24, a P/E/G ratio of 2.28 and a beta of 1.10. The business has a 50-day moving average of $252.80 and a two-hundred day moving average of $237.58. Lowe's Companies has a 52 week low of $181.85 and a 52 week high of $281.40.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter last year, the firm posted $4.56 EPS. The company's revenue was down 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Lowe's Companies will post 11.91 EPS 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. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This is an increase from Lowe's Companies's previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.64%. Lowe's Companies's dividend payout ratio is presently 36.95%.

Insider Transactions at Lowe's Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Lowe's Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 owns 9,383 shares of the company's stock, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business'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 transaction, the executive vice president now owns 13,214 shares of the company's stock, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lowe's Companies

Several hedge funds have recently bought and sold shares of the company. Iams Wealth Management LLC lifted its holdings in shares of Lowe's Companies by 39.4% during the 3rd quarter. Iams Wealth Management LLC now owns 1,529 shares of the home improvement retailer's stock valued at $414,000 after purchasing an additional 432 shares in the last quarter. Creative Planning raised its holdings in Lowe's Companies by 9.0% during the 3rd quarter. Creative Planning now owns 222,818 shares of the home improvement retailer's stock worth $59,002,000 after buying an additional 18,383 shares during the period. Wesbanco Bank Inc. lifted its stake in Lowe's Companies by 17.9% in the third quarter. Wesbanco Bank Inc. now owns 57,232 shares of the home improvement retailer's stock valued at $15,501,000 after buying an additional 8,683 shares in the last quarter. Grove Bank & Trust increased its holdings in Lowe's Companies by 5.1% during the 3rd quarter. Grove Bank & Trust now owns 2,684 shares of the home improvement retailer's stock worth $727,000 after purchasing an additional 130 shares in the last quarter. Finally, Novare Capital Management LLC raised its stake in shares of Lowe's Companies by 0.5% in the 3rd quarter. Novare Capital Management LLC now owns 46,361 shares of the home improvement retailer's stock valued at $12,557,000 after purchasing an additional 215 shares during the period. 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.