Wells Fargo & Company Issues Positive Forecast for Lowe’s Companies (NYSE:LOW) Stock Price

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

Several other equities research analysts also recently commented on LOW. UBS Group upped 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. Truist Financial increased their target price on Lowe’s Companies from $269.00 to $306.00 and gave the company a “buy” rating in a report on Monday, October 14th. Bank of America lifted their price target on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Finally, Sanford C. Bernstein initiated coverage on Lowe’s Companies in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $272.24.

Lowe’s Companies Stock Up 1.1 %

Lowe’s Companies stock traded up $2.79 during mid-day trading on Wednesday, hitting $264.52. The company’s stock had a trading volume of 563,224 shares, compared to its average volume of 2,439,168. The stock has a market capitalization of $150.06 billion, a P/E ratio of 21.81, a P/E/G ratio of 2.18 and a beta of 1.10. Lowe’s Companies has a twelve month low of $189.05 and a twelve month high of $287.01. The stock’s fifty day moving average price is $263.77 and its two-hundred day moving average price is $241.67.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.56 earnings per share. Equities analysts expect that Lowe’s Companies will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.74%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 38.14%.

Insider Buying and Selling

In other Lowe’s Companies 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 value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, 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 this link. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on 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 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 currently owned by insiders.

Institutional Trading of Lowe’s Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Claro Advisors LLC boosted its position in Lowe’s Companies by 36.5% in the third quarter. Claro Advisors LLC now owns 2,357 shares of the home improvement retailer’s stock valued at $638,000 after buying an additional 630 shares in the last quarter. Concord Asset Management LLC VA boosted its holdings in shares of Lowe’s Companies by 9.1% in the 3rd quarter. Concord Asset Management LLC VA now owns 4,095 shares of the home improvement retailer’s stock worth $1,109,000 after acquiring an additional 340 shares in the last quarter. Accent Capital Management LLC grew its position in Lowe’s Companies by 110.7% during the 3rd quarter. Accent Capital Management LLC now owns 5,256 shares of the home improvement retailer’s stock worth $1,424,000 after acquiring an additional 2,761 shares during the last quarter. Atlanta Consulting Group Advisors LLC increased its holdings in Lowe’s Companies by 7.9% during the 3rd quarter. Atlanta Consulting Group Advisors LLC now owns 1,729 shares of the home improvement retailer’s stock valued at $468,000 after purchasing an additional 127 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC raised its position in Lowe’s Companies by 3.7% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 17,788 shares of the home improvement retailer’s stock valued at $4,818,000 after purchasing an additional 641 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

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.