Lowe’s Companies (NYSE:LOW) Stock Price Down 0.6%

Lowe’s Companies, Inc. (NYSE:LOW) traded down 0.6% during trading on Tuesday . The stock traded as low as $268.52 and last traded at $269.12. 320,857 shares were traded during mid-day trading, a decline of 87% from the average session volume of 2,473,672 shares. The stock had previously closed at $270.85.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Truist Financial increased their price objective on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. UBS Group upped their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Evercore ISI raised their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, August 20th. Finally, JPMorgan Chase & Co. dropped their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $260.00.

Lowe’s Companies Trading Up 1.0 %

The firm has a 50-day moving average price of $246.83 and a 200-day moving average price of $236.29. The company has a market capitalization of $155.95 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the previous year, the company earned $4.56 earnings per share. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. Equities research analysts predict 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 issued a $1.15 dividend. This is an increase 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 1.68%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is presently 36.95%.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

A number of institutional investors have recently bought and sold shares of LOW. Mattson Financial Services LLC acquired a new stake in Lowe’s Companies during the 2nd quarter valued at $1,975,000. Anchor Investment Management LLC grew its holdings in shares of Lowe’s Companies by 1.4% during the second quarter. Anchor Investment Management LLC now owns 44,376 shares of the home improvement retailer’s stock valued at $9,783,000 after buying an additional 604 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Lowe’s Companies by 69.3% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 74,500 shares of the home improvement retailer’s stock valued at $16,424,000 after buying an additional 30,500 shares during the period. Verity & Verity LLC lifted its stake in Lowe’s Companies by 2.7% in the 2nd quarter. Verity & Verity LLC now owns 32,630 shares of the home improvement retailer’s stock worth $7,194,000 after acquiring an additional 857 shares in the last quarter. Finally, Prio Wealth Limited Partnership boosted its position in Lowe’s Companies by 5.5% during the 2nd quarter. Prio Wealth Limited Partnership now owns 6,764 shares of the home improvement retailer’s stock worth $1,491,000 after acquiring an additional 350 shares during the period. Hedge funds and other 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.