Lowe’s Companies, Inc. Declares Quarterly Dividend of $1.15 (NYSE:LOW)

Lowe’s Companies, Inc. (NYSE:LOW) declared a quarterly dividend on Friday, November 15th,RTT News reports. Investors of record on Wednesday, January 22nd will be given a dividend of 1.15 per share by the home improvement retailer on Monday, February 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.71%.

Lowe’s Companies has increased its dividend payment by an average of 24.1% per year over the last three years and has increased its dividend annually for the last 53 consecutive years. Lowe’s Companies has a payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Lowe’s Companies to earn $12.63 per share next year, which means the company should continue to be able to cover its $4.60 annual dividend with an expected future payout ratio of 36.4%.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $269.40 on Friday. The firm has a market capitalization of $152.83 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 2.24 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’s 50-day moving average is $267.19 and its 200 day moving average is $243.51.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $4.56 earnings per share. Research analysts anticipate that Lowe’s Companies will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their target price for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Truist Financial increased their price target on Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Royal Bank of Canada cut their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 21st. Finally, Stifel Nicolaus upped their price objective on shares of Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $273.84.

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.