Lowe’s Companies, Inc. (NYSE:LOW) Increases Dividend to $1.05 Per Share

Lowe’s Companies, Inc. (NYSE:LOWGet Rating) declared a quarterly dividend on Friday, May 27th, RTT News reports. Investors of record on Wednesday, July 20th will be given a dividend of 1.05 per share by the home improvement retailer on Wednesday, August 3rd. This represents a $4.20 annualized dividend and a dividend yield of 2.14%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.80.

Lowe’s Companies has raised its dividend payment by an average of 17.5% annually over the last three years and has raised its dividend annually for the last 47 consecutive years. Lowe’s Companies has a payout ratio of 21.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lowe’s Companies to earn $14.69 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 21.8%.

Shares of LOW stock traded up $0.94 on Friday, hitting $196.47. The company’s stock had a trading volume of 47,692 shares, compared to its average volume of 4,204,345. The stock’s 50 day moving average is $202.09 and its 200-day moving average is $226.42. Lowe’s Companies has a fifty-two week low of $179.22 and a fifty-two week high of $263.31. The company has a market capitalization of $129.89 billion, a PE ratio of 15.94, a PEG ratio of 1.11 and a beta of 1.25.

Lowe’s Companies (NYSE:LOWGet Rating) last posted its quarterly earnings data on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.29. Lowe’s Companies had a net margin of 8.85% and a negative return on equity of 251.50%. The business had revenue of $23.66 billion during the quarter, compared to analysts’ expectations of $23.72 billion. During the same quarter in the prior year, the business posted $3.21 earnings per share. Lowe’s Companies’s revenue was down 3.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Lowe’s Companies will post 13.43 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. Camden National Bank grew its holdings in shares of Lowe’s Companies by 17.1% during the fourth quarter. Camden National Bank now owns 2,291 shares of the home improvement retailer’s stock worth $368,000 after buying an additional 335 shares during the last quarter. Continuum Advisory LLC grew its stake in shares of Lowe’s Companies by 48.1% during the 1st quarter. Continuum Advisory LLC now owns 1,342 shares of the home improvement retailer’s stock valued at $265,000 after buying an additional 436 shares during the period. Mirabella Financial Services LLP purchased a new stake in Lowe’s Companies during the 1st quarter worth $257,000. Journey Strategic Wealth LLC lifted its holdings in Lowe’s Companies by 12.7% in the 1st quarter. Journey Strategic Wealth LLC now owns 1,216 shares of the home improvement retailer’s stock worth $245,000 after buying an additional 137 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC acquired a new position in Lowe’s Companies in the 4th quarter worth $228,000. Institutional investors own 75.46% of the company’s stock.

A number of brokerages recently issued reports on LOW. Evercore ISI began coverage on shares of Lowe’s Companies in a report on Tuesday, February 15th. They issued an “outperform” rating for the company. OTR Global downgraded shares of Lowe’s Companies to a “positive” rating in a research report on Tuesday, May 10th. Wells Fargo & Company decreased their target price on shares of Lowe’s Companies from $295.00 to $260.00 and set an “overweight” rating for the company in a research report on Thursday, April 7th. Truist Financial decreased their target price on shares of Lowe’s Companies from $283.00 to $237.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. Finally, StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Saturday, May 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Buy” and a consensus target price of $243.84.

Lowe’s Companies Company Profile (Get Rating)

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.

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Dividend History for Lowe's Companies (NYSE:LOW)

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