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

Lowe’s Companies, Inc. (NYSE:LOW) declared a quarterly dividend on Friday, November 15th,RTT News reports. Stockholders 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 raised its dividend by an average of 24.1% per year over the last three years and has raised 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. Equities 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 Trading Down 0.4 %

NYSE LOW opened at $269.40 on Friday. The company’s fifty day simple moving average is $267.19 and its 200-day simple moving average is $243.62. Lowe’s Companies has a 52 week low of $196.23 and a 52 week high of $287.01. The stock has a market cap of $152.83 billion, a P/E ratio of 22.34, a PEG ratio of 2.21 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.56 earnings per share. On average, research analysts expect that Lowe’s Companies will post 11.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on LOW shares. Sanford C. Bernstein started coverage on shares of Lowe’s Companies in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 target price for the company. UBS Group boosted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Piper Sandler boosted their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Finally, Wells Fargo & Company upped their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.84.

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 dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 41.91 % decrease in their position. The sale 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 company’s stock in a transaction dated 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 owns 13,214 shares in the company, valued at $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.

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.