Lowe’s Companies (NYSE:LOW) Price Target Raised to $295.00 at Wells Fargo & Company

Lowe’s Companies (NYSE:LOW) had its price target increased by Wells Fargo & Company from $280.00 to $295.00 in a report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the home improvement retailer’s stock.

A number of other research firms also recently weighed in on LOW. Truist Financial boosted their target price on shares of Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Royal Bank of Canada lowered their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and upped their price target for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. UBS Group boosted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Gordon Haskett cut their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus price target of $273.44.

Lowe’s Companies Trading Up 1.8 %

Shares of Lowe’s Companies stock opened at $271.10 on Wednesday. The firm has a market capitalization of $153.79 billion, a P/E ratio of 22.48, a P/E/G ratio of 2.15 and a beta of 1.10. The business has a fifty day simple moving average of $264.61 and a two-hundred day simple moving average of $242.11. Lowe’s Companies has a 12 month low of $189.05 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate 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 company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the company earned $4.56 EPS. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts predict that Lowe’s Companies will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. Lowe’s Companies’s dividend payout ratio is presently 38.14%.

Insider Buying and Selling

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on Thursday, September 12th. The shares were 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 $2,334,678.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related 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 value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated Thursday, September 12th. The shares were 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 directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lowe’s Companies

Several hedge funds have recently modified their holdings of LOW. Crew Capital Management Ltd. raised its stake in shares of Lowe’s Companies by 1.0% in the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after purchasing an additional 37 shares in the last quarter. Summit Place Financial Advisors LLC grew its position in Lowe’s Companies by 2.8% in the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after acquiring an additional 37 shares during the period. Clean Yield Group grew its position in Lowe’s Companies by 2.4% in the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after acquiring an additional 38 shares during the period. Mitchell Mcleod Pugh & Williams Inc. grew its position in Lowe’s Companies by 0.5% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after acquiring an additional 40 shares during the period. Finally, Drive Wealth Management LLC grew its position in Lowe’s Companies by 2.2% in the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after acquiring an additional 41 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

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.