Lowe’s Companies (NYSE:LOW – Free Report) had its price objective lifted by Morgan Stanley from $235.00 to $255.00 in a research report report published on Wednesday morning, MarketBeat.com reports. Morgan Stanley currently has an overweight rating on the home improvement retailer’s stock.
A number of other brokerages have also recently commented on LOW. Truist Financial lifted their target price on shares of Lowe’s Companies from $249.00 to $256.00 and gave the company a buy rating in a report on Wednesday. Bank of America boosted their price objective on shares of Lowe’s Companies from $278.00 to $289.00 and gave the company a buy rating in a research note on Wednesday. Evercore ISI boosted their price objective on shares of Lowe’s Companies from $225.00 to $240.00 and gave the company an in-line rating in a research note on Wednesday. Loop Capital boosted their price objective on shares of Lowe’s Companies from $215.00 to $225.00 and gave the company a hold rating in a research note on Wednesday. Finally, Telsey Advisory Group reissued a market perform rating and issued a $230.00 price objective (up from $225.00) on shares of Lowe’s Companies in a research note on Tuesday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of Hold and a consensus price target of $234.89.
Lowe’s Companies Price Performance
Lowe’s Companies (NYSE:LOW – Get Free Report) last announced its earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 EPS for the quarter, beating analysts’ consensus estimates of $4.49 by $0.07. The business had revenue of $24.96 billion for the quarter, compared to analysts’ expectations of $24.97 billion. Lowe’s Companies had a net margin of 6.65% and a negative return on equity of 68.42%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the company posted $4.67 EPS. Analysts anticipate that Lowe’s Companies will post 13.37 earnings per share for the current year.
Lowe’s Companies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $4.40 dividend on an annualized basis and a yield of 1.94%. Lowe’s Companies’s dividend payout ratio (DPR) is 42.84%.
Insider Buying and Selling at Lowe’s Companies
In other Lowe’s Companies news, EVP Donald Frieson sold 13,114 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $203.45, for a total value of $2,668,043.30. Following the transaction, the executive vice president now directly owns 18,020 shares in the company, valued at approximately $3,666,169. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.24% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Valley National Advisers Inc. lifted its holdings in shares of Lowe’s Companies by 6.6% during the 1st quarter. Valley National Advisers Inc. now owns 9,769 shares of the home improvement retailer’s stock worth $2,062,000 after acquiring an additional 606 shares during the period. Rainsberger Wealth Advisors Inc. lifted its holdings in shares of Lowe’s Companies by 9.2% during the 1st quarter. Rainsberger Wealth Advisors Inc. now owns 8,993 shares of the home improvement retailer’s stock worth $1,798,000 after acquiring an additional 760 shares during the period. Transform Wealth LLC lifted its holdings in shares of Lowe’s Companies by 0.3% during the 1st quarter. Transform Wealth LLC now owns 16,932 shares of the home improvement retailer’s stock worth $3,386,000 after acquiring an additional 51 shares during the period. CoreCap Advisors LLC lifted its holdings in shares of Lowe’s Companies by 5.0% during the 4th quarter. CoreCap Advisors LLC now owns 8,152 shares of the home improvement retailer’s stock worth $1,624,000 after acquiring an additional 389 shares during the period. Finally, Investors Research Corp raised its holdings in Lowe’s Companies by 34.4% in the fourth quarter. Investors Research Corp now owns 332 shares of the home improvement retailer’s stock valued at $66,000 after buying an additional 85 shares during the period. 73.47% of the stock is currently owned by hedge funds and other institutional investors.
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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