Lowe’s Companies, Inc. (NYSE:LOW – Get Free Report)’s stock price reached a new 52-week high on Monday after Truist Financial raised their price target on the stock from $269.00 to $306.00. Truist Financial currently has a buy rating on the stock. Lowe’s Companies traded as high as $278.92 and last traded at $278.79, with a volume of 232155 shares. The stock had previously closed at $275.76.
LOW has been the subject of several other research reports. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Gordon Haskett dropped their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Wells Fargo & Company reduced their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Piper Sandler upped their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Melius Research assumed coverage on Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $268.42.
Get Our Latest Stock Report on LOW
Insider Transactions at Lowe’s Companies
Institutional Investors Weigh In On Lowe’s Companies
Several hedge funds have recently bought and sold shares of LOW. Bamco Inc. NY boosted its holdings in Lowe’s Companies by 10.3% during the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after buying an additional 20,181 shares in the last quarter. Plato Investment Management Ltd grew its position in shares of Lowe’s Companies by 655.9% during the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after acquiring an additional 5,470 shares during the period. 17 Capital Partners LLC purchased a new position in shares of Lowe’s Companies in the 1st quarter valued at about $1,368,000. Lincoln National Corp raised its holdings in Lowe’s Companies by 1.5% in the 1st quarter. Lincoln National Corp now owns 11,128 shares of the home improvement retailer’s stock worth $2,835,000 after purchasing an additional 169 shares during the period. Finally, Daymark Wealth Partners LLC boosted its position in Lowe’s Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after purchasing an additional 2,889 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.
Lowe’s Companies Price Performance
The company has a market capitalization of $159.08 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The firm has a fifty day simple moving average of $252.80 and a 200 day simple moving average of $237.58.
Lowe’s Companies (NYSE:LOW – Get Free Report) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.56 EPS. Research analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.
Lowe’s Companies Increases Dividend
The business also recently declared 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. This represents a $4.60 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 36.95%.
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.
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