Lowe’s Companies (NYSE:LOW) Trading 0.7% Higher

Lowe’s Companies, Inc. (NYSE:LOW)’s share price rose 0.7% on Tuesday . The company traded as high as $246.55 and last traded at $246.43. Approximately 320,040 shares changed hands during trading, a decline of 87% from the average daily volume of 2,496,407 shares. The stock had previously closed at $244.73.

Analyst Ratings Changes

Several research analysts have commented on LOW shares. Truist Financial raised their price target on shares of Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. UBS Group boosted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. lowered their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. DA Davidson cut their price objective on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Finally, Bank of America decreased 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 report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Hold” and an average target price of $252.83.

Lowe’s Companies Stock Performance

The firm has a 50-day moving average of $238.51 and a 200-day moving average of $234.49. The firm has a market capitalization of $140.97 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 2.00 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter last year, the business earned $4.56 earnings per share. The business’s revenue was down 5.5% on a year-over-year basis. Equities analysts anticipate that Lowe’s Companies, Inc. will post 11.93 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. Investors 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 annualized dividend and a dividend yield of 1.86%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Institutional Investors Weigh In On Lowe’s Companies

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after acquiring an additional 2,674,372 shares in the last quarter. Norges Bank bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $1,638,746,000. Legal & General Group Plc increased its position in shares of Lowe’s Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after buying an additional 82,978 shares during the period. Schroder Investment Management Group raised its stake in Lowe’s Companies by 1.9% in the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock worth $634,518,000 after buying an additional 52,859 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings 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 worth $468,884,000 after buying an additional 493,180 shares during the period. 74.06% of the stock is currently owned by 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.