Margrethe R. Vagell Sells 5,730 Shares of Lowe’s Companies, Inc. (NYSE:LOW) Stock

Lowe’s Companies, Inc. (NYSE:LOW) EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Lowe’s Companies Trading Down 0.9 %

LOW opened at $267.76 on Friday. The company has a market cap of $152.58 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 2.15 and a beta of 1.10. The company’s fifty day moving average price is $249.61 and its two-hundred day moving average price is $237.13. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $274.16.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The business 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 firm earned $4.56 EPS. As a group, equities analysts forecast that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal 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 issued a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.72%. 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%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on LOW. Wedbush reissued a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, August 21st. UBS Group increased their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Evercore ISI lifted their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Piper Sandler upped their target price on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus target price of $263.54.

Hedge Funds Weigh In On Lowe’s Companies

Several large investors have recently bought and sold shares of LOW. Belpointe Asset Management LLC lifted its position in shares of Lowe’s Companies by 17.8% during the fourth quarter. Belpointe Asset Management LLC now owns 3,529 shares of the home improvement retailer’s stock valued at $786,000 after purchasing an additional 534 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Lowe’s Companies by 5.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 179,653 shares of the home improvement retailer’s stock worth $39,982,000 after buying an additional 9,583 shares in the last quarter. Morningstar Investment Management LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter worth approximately $607,000. Annex Advisory Services LLC grew its holdings in shares of Lowe’s Companies by 12.7% in the fourth quarter. Annex Advisory Services LLC now owns 1,587 shares of the home improvement retailer’s stock valued at $353,000 after acquiring an additional 179 shares in the last quarter. Finally, Cetera Advisor Networks LLC increased its position in shares of Lowe’s Companies by 3.4% during the fourth quarter. Cetera Advisor Networks LLC now owns 108,655 shares of the home improvement retailer’s stock valued at $24,181,000 after acquiring an additional 3,534 shares during the last quarter. 74.06% of the stock is currently owned by 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.