Lowe’s Companies (NYSE:LOW) Stock Price Down 0.1%

Lowe’s Companies, Inc. (NYSE:LOW)’s stock price fell 0.1% on Wednesday . The stock traded as low as $255.55 and last traded at $256.38. 151,523 shares changed hands during trading, a decline of 94% from the average session volume of 2,474,986 shares. The stock had previously closed at $256.72.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LOW. Morgan Stanley lifted their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a report on Tuesday, August 20th. Wedbush reissued a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Bank of America dropped their price target on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, Piper Sandler dropped their price target on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Lowe’s Companies has an average rating of “Hold” and a consensus price target of $253.33.

Lowe’s Companies Stock Performance

The company has a market cap of $148.73 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.03 and a beta of 1.10. The business has a fifty day moving average price of $243.06 and a 200 day moving average price of $235.27.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.56 EPS. As a group, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.76%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 36.95%.

Insider Buying and Selling

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction 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 owns 9,383 shares in the company, valued at approximately $2,334,678.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lowe’s Companies

A number of institutional investors have recently made changes to their positions in LOW. Vanguard Group Inc. grew its position in shares of Lowe’s Companies by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after buying an additional 2,674,372 shares during the last quarter. Strategic Financial Concepts LLC lifted its stake in shares of Lowe’s Companies by 20,275.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after purchasing an additional 1,199,100 shares during the period. M&G Plc acquired a new position in shares of Lowe’s Companies in the 1st quarter valued at about $217,995,000. Pathstone Holdings LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at about $126,615,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Lowe’s Companies by 36.6% in the 1st 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 during the period. Institutional investors own 74.06% of the company’s stock.

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.