Lowe’s Companies (NYSE:LOW) Now Covered by Melius Research

Melius Research assumed coverage on shares of Lowe’s Companies (NYSE:LOW) in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $290.00 target price on the home improvement retailer’s stock.

A number of other research firms have also issued reports on LOW. UBS Group increased their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a buy rating in a research report on Wednesday, August 21st. Gordon Haskett decreased their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a hold rating for the company in a research note on Wednesday, August 21st. Wedbush reissued a neutral rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Royal Bank of Canada decreased their price objective on shares of Lowe’s Companies from $245.00 to $238.00 and set a sector perform rating for the company in a research report on Wednesday, August 21st. Finally, Telsey Advisory Group reissued a market perform rating and issued a $230.00 target price on shares of Lowe’s Companies in a report on Tuesday, August 20th. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $258.13.

Lowe’s Companies Stock Performance

Shares of LOW opened at $265.68 on Monday. The company’s 50-day simple moving average is $245.12 and its 200-day simple moving average is $235.84. Lowe’s Companies has a 1 year low of $181.85 and a 1 year high of $268.09. The stock has a market capitalization of $151.39 billion, a PE ratio of 21.34, a P/E/G ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter last year, the company posted $4.56 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. On average, sell-side analysts predict that Lowe’s Companies will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.73%. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Voisard Asset Management Group Inc. acquired a new position in Lowe’s Companies during the 4th quarter worth approximately $28,000. Keener Financial Planning LLC acquired a new position in Lowe’s Companies during the first quarter worth $35,000. Transcendent Capital Group LLC purchased a new position in Lowe’s Companies in the fourth quarter worth $31,000. Stephens Consulting LLC lifted its holdings in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares during the period. Finally, Kimelman & Baird LLC purchased a new stake in shares of Lowe’s Companies during the 2nd quarter worth $37,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

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.