Lowe’s Companies (NYSE:LOW) Stock Rating Upgraded by Gordon Haskett

Gordon Haskett upgraded shares of Lowe’s Companies (NYSE:LOW) to a hold rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Several other research analysts have also recently issued reports on LOW. Guggenheim reissued a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, July 22nd. Sanford C. Bernstein set a $266.00 price objective on Lowe’s Companies and gave the stock an “outperform” rating in a research note on Thursday, May 22nd. Truist Financial set a $264.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a research note on Thursday, May 22nd. JPMorgan Chase & Co. dropped their price objective on Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Finally, KeyCorp upgraded Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 target price for the company in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $270.68.

Lowe’s Companies Stock Performance

LOW opened at $251.86 on Wednesday. The stock has a market cap of $141.15 billion, a price-to-earnings ratio of 20.87, a P/E/G ratio of 2.39 and a beta of 0.89. The stock’s 50 day moving average price is $226.61 and its 200-day moving average price is $230.50. Lowe’s Companies has a one year low of $206.38 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion for the quarter, compared to analysts’ expectations of $21.09 billion. Lowe’s Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.06 earnings per share. As a group, analysts predict that Lowe’s Companies will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Wednesday, July 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s payout ratio is currently 39.77%.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares of the company’s stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On Lowe’s Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LOW. Gen Wealth Partners Inc grew its holdings in Lowe’s Companies by 1.9% during the 4th quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock worth $534,000 after acquiring an additional 40 shares in the last quarter. Waterloo Capital L.P. boosted its holdings in shares of Lowe’s Companies by 1.2% in the 2nd quarter. Waterloo Capital L.P. now owns 3,455 shares of the home improvement retailer’s stock valued at $767,000 after buying an additional 41 shares during the period. Second Line Capital LLC boosted its holdings in shares of Lowe’s Companies by 0.9% in the 4th quarter. Second Line Capital LLC now owns 4,793 shares of the home improvement retailer’s stock valued at $1,183,000 after buying an additional 44 shares during the period. Vertex Planning Partners LLC boosted its holdings in shares of Lowe’s Companies by 2.9% in the 1st quarter. Vertex Planning Partners LLC now owns 1,582 shares of the home improvement retailer’s stock valued at $369,000 after buying an additional 44 shares during the period. Finally, Operose Advisors LLC boosted its holdings in shares of Lowe’s Companies by 1.4% in the 2nd quarter. Operose Advisors LLC now owns 3,331 shares of the home improvement retailer’s stock valued at $739,000 after buying an additional 45 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

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.