Lowe's Companies, Inc. (NYSE:LOW) Receives $271.60 Average PT from Brokerages

Shares of Lowe's Companies, Inc. (NYSE:LOW - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty-five ratings firms that are covering the firm, MarketBeat.com reports. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $271.60.

LOW has been the subject of several recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Lowe's Companies in a research note on Tuesday, October 22nd. They set an "outperform" rating and a $323.00 price objective for the company. Evercore ISI lifted their price objective on 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. Loop Capital upgraded Lowe's Companies from a "hold" rating to a "buy" rating and upped their target price for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Morgan Stanley lifted their price target on Lowe's Companies from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Finally, Melius Research started coverage on shares of Lowe's Companies in a research report on Monday, September 23rd. They issued a "buy" rating and a $290.00 price objective on the stock.

Insider Transactions at Lowe's Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company'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 completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lowe's Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe's Companies stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares of the company's stock, 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 can be accessed through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company'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 value of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their position. 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

Hedge funds have recently made changes to their positions in the company. Bamco Inc. NY lifted its holdings in shares of Lowe's Companies by 10.3% during the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer's stock valued at $55,266,000 after purchasing an additional 20,181 shares during the last quarter. Plato Investment Management Ltd grew its stake in shares of Lowe's Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer's stock worth $1,606,000 after acquiring an additional 5,470 shares during the last quarter. HM Payson & Co. increased its position in shares of Lowe's Companies by 1.1% during the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer's stock valued at $58,409,000 after acquiring an additional 2,322 shares in the last quarter. Daymark Wealth Partners LLC increased its position in shares of Lowe's Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer's stock valued at $5,637,000 after acquiring an additional 2,889 shares in the last quarter. Finally, AMF Tjanstepension AB raised its holdings in Lowe's Companies by 14.4% in the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer's stock worth $43,290,000 after acquiring an additional 20,123 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Price Performance

Shares of LOW traded up $3.41 during mid-day trading on Tuesday, hitting $268.39. The stock had a trading volume of 921,602 shares, compared to its average volume of 2,435,590. The firm has a market cap of $152.25 billion, a P/E ratio of 22.08, a PEG ratio of 2.15 and a beta of 1.10. Lowe's Companies has a 52 week low of $189.05 and a 52 week high of $287.01. The business has a fifty day moving average price of $263.10 and a 200-day moving average price of $241.25.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts' consensus estimates of $3.96 by $0.14. The company had revenue of $23.59 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $4.56 EPS. As a group, research analysts expect that Lowe's Companies will post 11.91 earnings per share 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. Shareholders of record on Wednesday, October 23rd will be given a $1.15 dividend. 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. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.71%. Lowe's Companies's payout ratio is presently 38.14%.

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.