Lowe’s Companies (NYSE:LOW) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of Lowe’s Companies (NYSE:LOW) from a buy rating to a hold rating in a research note released on Thursday morning.

Other analysts also recently issued reports about the stock. Evercore ISI increased their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. Wells Fargo & Company increased their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Stifel Nicolaus raised their price target on shares of Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a research report on Wednesday, December 11th. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Finally, Truist Financial reduced their target price on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $280.85.

Lowe’s Companies Trading Up 0.1 %

Lowe’s Companies stock opened at $246.84 on Thursday. Lowe’s Companies has a 12 month low of $209.55 and a 12 month high of $287.01. The company has a market capitalization of $139.38 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. The business’s fifty day simple moving average is $261.51 and its two-hundred day simple moving average is $252.88.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

Insider Activity

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the sale, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Institutional Trading of Lowe’s Companies

A number of hedge funds and other institutional investors have recently modified their holdings of LOW. FMR LLC increased its stake in Lowe’s Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after buying an additional 2,399,897 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Lowe’s Companies by 1,889.7% during the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after purchasing an additional 2,027,668 shares in the last quarter. Applied Finance Capital Management LLC raised its stake in Lowe’s Companies by 387.7% during the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after purchasing an additional 645,017 shares during the period. Marshall Wace LLP lifted its holdings in Lowe’s Companies by 170.5% in the 2nd quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after purchasing an additional 463,645 shares in the last quarter. Finally, State Street Corp boosted its stake in Lowe’s Companies by 1.9% in the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after purchasing an additional 460,851 shares during the period. 74.06% of the stock is owned by hedge funds and other 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.