Lowe’s Companies (NYSE:LOW) Now Covered by Analysts at Sanford C. Bernstein

Sanford C. Bernstein assumed coverage on shares of Lowe’s Companies (NYSE:LOW) in a research note published on Tuesday morning, Marketbeat reports. The firm issued an outperform rating and a $323.00 price target on the home improvement retailer’s stock.

Other analysts have also recently issued research reports about the company. Bank of America raised their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their target price for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Evercore ISI increased their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 21st. Melius Research initiated coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective on the stock. Finally, Truist Financial increased 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 report on Monday, October 14th. Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.60.

Lowe’s Companies Stock Down 1.7 %

Shares of NYSE LOW opened at $272.22 on Tuesday. Lowe’s Companies has a 52-week low of $181.85 and a 52-week high of $287.01. The stock has a market capitalization of $155.12 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.28 and a beta of 1.10. The stock’s fifty day simple moving average is $259.01 and its 200 day simple moving average is $239.26.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.56 earnings per share. As a group, analysts anticipate that Lowe’s Companies will post 11.91 earnings per share 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. Stockholders of record on Wednesday, October 23rd will be given a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Insider Buying and Selling

In other Lowe’s Companies news, 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 value of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated 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 sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 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 insiders.

Institutional Trading of Lowe’s Companies

Hedge funds have recently modified their holdings of the company. Stephens Consulting LLC boosted its stake in Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares in the last quarter. Keener Financial Planning LLC acquired a new stake in shares of Lowe’s Companies during the 1st quarter valued at about $35,000. MFA Wealth Advisors LLC increased its stake in Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after acquiring an additional 70 shares during the period. Kimelman & Baird LLC acquired a new position in Lowe’s Companies in the second quarter worth about $37,000. Finally, Tsfg LLC lifted its stake in Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 100 shares during the period. Institutional investors own 74.06% of the company’s stock.

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.