Lowe’s Companies (NYSE:LOW) Sets New 1-Year High – Here’s What Happened

Lowe’s Companies, Inc. (NYSE:LOW)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $281.36 and last traded at $277.69, with a volume of 480003 shares changing hands. The stock had previously closed at $277.11.

Analyst Upgrades and Downgrades

LOW has been the topic of a number of analyst reports. Mizuho decreased their target price on shares of Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lowe’s Companies in a research note on Monday, December 29th. HSBC decreased their price objective on Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a report on Friday, November 21st. Oppenheimer dropped their target price on Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, December 5th. Finally, JPMorgan Chase & Co. lifted their price target on Lowe’s Companies from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, November 20th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $283.65.

Lowe’s Companies Stock Up 0.1%

The business has a fifty day moving average of $247.43 and a 200 day moving average of $245.49. The company has a market cap of $155.62 billion, a P/E ratio of 23.00, a P/E/G ratio of 4.45 and a beta of 0.96.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The business had revenue of $20.81 billion for the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.89 earnings per share. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Lowe’s Companies’s payout ratio is currently 39.80%.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the transaction, the chief executive officer owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.

Institutional Trading of Lowe’s Companies

A number of hedge funds and other institutional investors have recently modified their holdings of LOW. Norges Bank bought a new stake in Lowe’s Companies during the second quarter worth about $1,773,624,000. Wellington Management Group LLP lifted its holdings in shares of Lowe’s Companies by 102.0% during the third quarter. Wellington Management Group LLP now owns 4,204,311 shares of the home improvement retailer’s stock valued at $1,056,585,000 after purchasing an additional 2,122,622 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Lowe’s Companies by 207.2% during the third quarter. Victory Capital Management Inc. now owns 2,058,086 shares of the home improvement retailer’s stock valued at $517,218,000 after purchasing an additional 1,388,133 shares during the last quarter. Tableaux LLC bought a new stake in shares of Lowe’s Companies in the 2nd quarter worth approximately $282,884,000. Finally, Laurel Wealth Advisors LLC grew its stake in shares of Lowe’s Companies by 22,167.5% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock worth $229,041,000 after buying an additional 1,027,683 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.