Lowe’s Companies (NYSE:LOW) Trading Up 0.7%

Lowe’s Companies, Inc. (NYSE:LOW) shot up 0.7% on Tuesday . The stock traded as high as $246.55 and last traded at $246.43. 320,040 shares traded hands during trading, a decline of 87% from the average session volume of 2,496,407 shares. The stock had previously closed at $244.73.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Piper Sandler reduced their price target on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Bank of America reduced their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. UBS Group lifted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Finally, Wedbush reiterated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $252.83.

Lowe’s Companies Price Performance

The business’s fifty day moving average is $238.51 and its 200-day moving average is $234.49. The company has a market cap of $140.97 billion, a PE ratio of 19.87, a P/E/G ratio of 2.00 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping 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 company’s revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.56 EPS. Analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.86%. Lowe’s Companies’s payout ratio is 36.95%.

Hedge Funds Weigh In On Lowe’s Companies

Several large investors have recently made changes to their positions in the business. Tidemark LLC bought a new stake in Lowe’s Companies during the 4th quarter valued at approximately $27,000. Voisard Asset Management Group Inc. bought a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $28,000. Transcendent Capital Group LLC purchased a new position in shares of Lowe’s Companies in the fourth quarter worth $31,000. Stephens Consulting LLC boosted its position in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares during the last quarter. Finally, Keener Financial Planning LLC purchased a new position in Lowe’s Companies during the first quarter valued at $35,000. 74.06% 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.