Lowe's Companies, Inc. (NYSE:LOW - Get Free Report) shares reached a new 52-week high during mid-day trading 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.
Several other equities research analysts also recently commented on the company. Wells Fargo & Company dropped their target price on Lowe's Companies from $290.00 to $280.00 and set an "overweight" rating on the stock in a report on Wednesday, August 21st. Bank of America upped their price target on shares of Lowe's Companies from $275.00 to $305.00 and gave the stock a "buy" rating in a research note on Friday. Evercore ISI raised their price objective on shares of Lowe's Companies from $225.00 to $250.00 and gave the company an "in-line" rating in a research note on Wednesday, August 21st. StockNews.com upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Wednesday, September 18th. Finally, Melius Research began 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 target for the company. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Lowe's Companies presently has a consensus rating of "Moderate Buy" and an average target price of $268.42.
Check Out Our Latest Analysis on LOW
In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated 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 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 document filed with the SEC, which can be accessed through this hyperlink. In other Lowe's Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares of the company's stock, valued at $3,586,940.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe's Companies stock in a transaction dated 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 completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.
A number of hedge funds have recently bought and sold shares of LOW. Vanguard Group Inc. boosted its stake in Lowe's Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer's stock worth $13,677,378,000 after buying an additional 2,674,372 shares during the period. Strategic Financial Concepts LLC lifted its holdings 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 worth $2,657,000 after acquiring an additional 1,199,100 shares during the last quarter. M&G Plc purchased a new position in shares of Lowe's Companies during the 1st quarter worth about $217,995,000. Price T Rowe Associates Inc. MD grew its holdings in Lowe's Companies by 36.6% during 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 last quarter. Finally, Marshall Wace LLP raised its position 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 during the period. Hedge funds and other institutional investors own 74.06% of the company's stock.
The stock's 50-day moving average is $252.80 and its two-hundred day moving average is $237.58. The company has a market capitalization of $159.08 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10.
Lowe's Companies (NYSE:LOW - Get Free Report) last issued its 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 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 revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.56 earnings per share. On average, equities research analysts forecast that Lowe's Companies, Inc. will post 11.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is an increase from Lowe's Companies's previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.65%. The ex-dividend date is Wednesday, October 23rd. Lowe's Companies's dividend payout ratio (DPR) is presently 36.95%.
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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