Lowe’s Companies (NYSE:LOW) Price Target Raised to $245.00

Lowe’s Companies (NYSE:LOW) had its price objective increased by Barclays from $229.00 to $245.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Barclays currently has an equal weight rating on the home improvement retailer’s stock.

A number of other equities research analysts have also recently commented on LOW. Truist Financial increased their price target on shares of Lowe’s Companies from $306.00 to $307.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Piper Sandler increased their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Gordon Haskett cut their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a report on Tuesday, November 19th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and an average target price of $277.92.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $264.68 on Wednesday. Lowe’s Companies has a fifty-two week low of $196.23 and a fifty-two week high of $287.01. The company has a 50 day simple moving average of $268.74 and a two-hundred day simple moving average of $244.83. The company has a market capitalization of $150.15 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 2.22 and a beta of 1.10.

Lowe’s Companies Increases Dividend

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

Insider Transactions at Lowe’s Companies

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

Institutional Trading of Lowe’s Companies

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Anchor Investment Management LLC lifted its holdings in Lowe’s Companies by 2.6% in the third quarter. Anchor Investment Management LLC now owns 45,537 shares of the home improvement retailer’s stock valued at $12,334,000 after acquiring an additional 1,161 shares during the period. Tudor Financial Inc. acquired a new position in Lowe’s Companies in the third quarter valued at approximately $1,877,000. Virtu Financial LLC lifted its holdings in Lowe’s Companies by 66.1% in the third quarter. Virtu Financial LLC now owns 5,474 shares of the home improvement retailer’s stock valued at $1,483,000 after acquiring an additional 2,178 shares during the period. Invst LLC acquired a new position in Lowe’s Companies in the third quarter valued at approximately $255,000. Finally, Discipline Wealth Solutions LLC acquired a new position in Lowe’s Companies in the third quarter valued at approximately $630,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

About Lowe’s Companies

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.