Lowe’s Companies (NYSE:LOW) Research Coverage Started at Sanford C. Bernstein

Sanford C. Bernstein started coverage on shares of Lowe’s Companies (NYSE:LOW) in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $323.00 price target on the home improvement retailer’s stock.

Several other brokerages have also recently weighed in on LOW. Telsey Advisory Group boosted their price target on shares of Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Truist Financial increased their price target on shares of Lowe’s Companies from $269.00 to $306.00 and gave the company a “buy” rating in a report on Monday, October 14th. UBS Group boosted their price objective on 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, Morgan Stanley raised their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $270.60.

Lowe’s Companies Stock Up 0.5 %

LOW opened at $271.36 on Tuesday. The company has a market capitalization of $154.63 billion, a PE ratio of 21.80, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The firm has a 50-day simple moving average of $259.66 and a two-hundred day simple moving average of $239.47. Lowe’s Companies has a 52 week low of $181.85 and a 52 week high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $23.93 billion. During the same period in the prior year, the company earned $4.56 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Lowe’s Companies will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company 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 $1.15 dividend. 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 dividend on an annualized basis and a dividend yield of 1.70%. Lowe’s Companies’s payout ratio is presently 36.95%.

Insider Buying and Selling

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value 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 approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents 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 insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LOW. Stephens Consulting LLC grew its stake in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the last quarter. Keener Financial Planning LLC purchased a new stake in shares of Lowe’s Companies during the first quarter valued at about $35,000. MFA Wealth Advisors LLC boosted its holdings in shares of Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after buying an additional 70 shares in the last quarter. Kimelman & Baird LLC purchased a new position in shares of Lowe’s Companies in the 2nd quarter worth approximately $37,000. Finally, Tsfg LLC raised its stake in shares of Lowe’s Companies by 128.2% during the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 100 shares in the last quarter. 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.