Sanford C. Bernstein assumed coverage on shares of Lowe's Companies (NYSE:LOW - Free Report) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $323.00 target price on the home improvement retailer's stock.
Other equities research analysts also recently issued reports about the company. UBS Group raised their price target on Lowe's Companies from $270.00 to $290.00 and gave the company a "buy" rating in a research report on Wednesday, August 21st. Telsey Advisory Group raised their price target on shares of Lowe's Companies from $230.00 to $275.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 2nd. Morgan Stanley boosted their target price 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. Evercore ISI raised their price target on Lowe's Companies from $225.00 to $250.00 and gave the company an "in-line" rating in a report on Wednesday, August 21st. Finally, Truist Financial boosted their target price on shares of Lowe's Companies from $269.00 to $306.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Lowe's Companies presently has a consensus rating of "Moderate Buy" and an average price target of $270.60.
Check Out Our Latest Analysis on LOW
Lowe's Companies Trading Down 1.7 %
Shares of NYSE LOW traded down $4.62 during mid-day trading on Tuesday, reaching $272.22. The company had a trading volume of 3,102,116 shares, compared to its average volume of 2,453,898. The company has a 50-day moving average price of $259.01 and a two-hundred day moving average price of $239.26. The stock has a market cap of $155.12 billion, a PE ratio of 21.87, a P/E/G ratio of 2.28 and a beta of 1.10. Lowe's Companies has a 1-year low of $181.85 and a 1-year high of $287.01.
Lowe's Companies (NYSE:LOW - Get Free Report) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share 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 company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the prior year, the company earned $4.56 EPS. The firm's quarterly revenue was down 5.5% on a year-over-year basis. On average, research analysts expect that Lowe's Companies will post 11.91 EPS for the current year.
Lowe's Companies Increases Dividend
The firm also recently declared 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 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 1.69%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe's Companies's dividend payout ratio is presently 36.95%.
Insider Activity at Lowe's Companies
In other Lowe's Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company's stock in a transaction dated 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 sale, the executive vice president now directly 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 filing with the SEC, which is available at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now owns 9,383 shares of the company's stock, valued at $2,334,678.06. This trade represents 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 company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Lowe's Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer's stock worth $13,677,378,000 after buying an additional 2,674,372 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Lowe's Companies by 20,275.6% during the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer's stock worth $2,657,000 after purchasing an additional 1,199,100 shares in the last quarter. M&G Plc bought a new position in shares of Lowe's Companies in the first quarter worth approximately $217,995,000. Price T Rowe Associates Inc. MD raised its stake in Lowe's Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer's stock valued at $468,884,000 after purchasing an additional 493,180 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in Lowe's Companies by 170.5% in the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer's stock valued at $162,178,000 after purchasing an additional 463,645 shares in the last quarter. Institutional investors own 74.06% of the company's stock.
Lowe's Companies Company Profile
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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.
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