Lowe’s Companies (NYSE:LOW) Price Target Raised to $270.00

Lowe’s Companies (NYSE:LOW) had its price target raised by Evercore ISI from $255.00 to $270.00 in a report published on Wednesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the home improvement retailer’s stock.

Several other equities research analysts also recently issued reports on LOW. Bank of America raised their price target on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Sanford C. Bernstein initiated coverage on Lowe’s Companies in a report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 price target for the company. Wedbush restated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Barclays upped their target price on shares of Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $277.92.

Lowe’s Companies Trading Down 0.2 %

NYSE LOW opened at $264.68 on Wednesday. The company has a market cap of $150.15 billion, a P/E ratio of 22.08, a P/E/G ratio of 2.22 and a beta of 1.10. Lowe’s Companies has a 1 year low of $196.23 and a 1 year high of $287.01. The company has a fifty day simple moving average of $268.74 and a 200 day simple moving average of $244.83.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.74%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

Insiders Place Their Bets

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 41.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Lowe’s Companies

Several large investors have recently made changes to their positions in the company. Bamco Inc. NY lifted its position in Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after purchasing an additional 20,181 shares during the period. Plato Investment Management Ltd lifted its holdings in Lowe’s Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after buying an additional 5,470 shares during the period. HM Payson & Co. boosted its stake in Lowe’s Companies by 1.1% in the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after acquiring an additional 2,322 shares during the last quarter. Daymark Wealth Partners LLC grew its holdings in Lowe’s Companies by 12.7% during the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after acquiring an additional 2,889 shares during the period. Finally, AMF Tjanstepension AB raised its position in shares of Lowe’s Companies by 14.4% during the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after acquiring an additional 20,123 shares during the last quarter. Institutional investors and hedge funds 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.