Lowe’s Companies (NYSE:LOW) Upgraded at StockNews.com

StockNews.com upgraded shares of Lowe’s Companies (NYSE:LOW) from a hold rating to a buy rating in a report issued on Wednesday morning.

LOW has been the subject of a number of other reports. Morgan Stanley upped their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an overweight rating in a research report on Wednesday, August 21st. Wedbush reissued a neutral rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. UBS Group boosted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a buy rating in a research report on Wednesday, August 21st. Piper Sandler cut their target price on Lowe’s Companies from $264.00 to $262.00 and set an overweight rating for the company in a research report on Wednesday, August 21st. Finally, Evercore ISI boosted their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock an in-line rating in a report on Wednesday, August 21st. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $253.33.

Lowe’s Companies Stock Down 0.3 %

LOW opened at $260.17 on Wednesday. The stock has a market capitalization of $148.25 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.03 and a beta of 1.10. The firm has a 50 day moving average price of $243.58 and a 200-day moving average price of $235.40. Lowe’s Companies has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) 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 negative return on equity of 47.07% and a net margin of 8.25%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the firm posted $4.56 earnings per share. As a group, analysts expect that Lowe’s Companies will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced 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. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.77%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brevan Howard Capital Management LP boosted its stake in Lowe’s Companies by 824.6% during the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after purchasing an additional 13,680 shares during the period. Bamco Inc. NY boosted its stake in shares of Lowe’s Companies by 10.3% during the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after buying an additional 20,181 shares during the period. Plato Investment Management Ltd grew its holdings in shares of Lowe’s Companies by 655.9% during the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after buying an additional 5,470 shares during the last quarter. 17 Capital Partners LLC acquired a new position in Lowe’s Companies in the 1st quarter valued at about $1,368,000. Finally, Gerber LLC purchased a new stake in Lowe’s Companies during the 4th quarter valued at approximately $235,000. 74.06% of the stock is owned by institutional investors and hedge funds.

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.