Lowe’s Companies (NYSE:LOW) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Lowe’s Companies (NYSE:LOW) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

Several other research firms also recently commented on LOW. Evercore ISI raised their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research note on Thursday, December 12th. Melius Research assumed coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 target price on the stock. TD Cowen boosted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Bank of America raised their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Wells Fargo & Company upped their target price on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Eleven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies Stock Up 0.4 %

LOW opened at $247.78 on Thursday. The business has a fifty day moving average of $261.23 and a 200 day moving average of $253.26. The stock has a market cap of $139.91 billion, a P/E ratio of 20.67, a PEG ratio of 2.20 and a beta of 1.11. Lowe’s Companies has a 52-week low of $209.55 and a 52-week high of $287.01.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the sale, the executive vice president now directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lowe’s Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its holdings in Lowe’s Companies by 352.6% in the 2nd quarter. Acadian Asset Management LLC now owns 14,438 shares of the home improvement retailer’s stock worth $3,180,000 after buying an additional 11,248 shares during the period. HHM Wealth Advisors LLC raised its holdings in shares of Lowe’s Companies by 167.6% during the second quarter. HHM Wealth Advisors LLC now owns 851 shares of the home improvement retailer’s stock worth $188,000 after purchasing an additional 533 shares during the last quarter. LPL Financial LLC lifted its position in Lowe’s Companies by 7.4% during the second quarter. LPL Financial LLC now owns 782,877 shares of the home improvement retailer’s stock valued at $172,593,000 after purchasing an additional 54,202 shares during the period. Vest Financial LLC boosted its holdings in Lowe’s Companies by 8.9% in the second quarter. Vest Financial LLC now owns 190,294 shares of the home improvement retailer’s stock valued at $41,952,000 after purchasing an additional 15,609 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its position in Lowe’s Companies by 3.8% during the 2nd quarter. Main Street Financial Solutions LLC now owns 9,025 shares of the home improvement retailer’s stock worth $1,990,000 after purchasing an additional 329 shares during the period. Hedge funds and other 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.