StockNews.com Downgrades Lowe’s Companies (NYSE:LOW) to Hold

StockNews.com downgraded shares of Lowe’s Companies (NYSE:LOW) from a buy rating to a hold rating in a report released on Thursday morning.

A number of other research firms also recently commented on LOW. Royal Bank of Canada increased their target price on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Sanford C. Bernstein lifted their price objective on shares of Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Piper Sandler upped 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 report on Monday, September 30th. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Finally, Barclays raised their price objective on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Eleven investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $280.85.

Lowe’s Companies Trading Up 0.1 %

NYSE:LOW opened at $246.84 on Thursday. The business’s 50-day moving average is $261.51 and its 200 day moving average is $252.88. Lowe’s Companies has a 12 month low of $209.55 and a 12 month high of $287.01. The company has a market capitalization of $139.38 billion, a P/E ratio of 20.59, a P/E/G ratio of 2.20 and a beta of 1.11.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is 38.37%.

Insider Activity at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Lowe’s Companies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. StoneX Group Inc. bought a new stake in Lowe’s Companies during the third quarter valued at about $2,713,000. Principal Financial Group Inc. boosted its holdings in shares of Lowe’s Companies by 4.0% in the 3rd quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock valued at $175,944,000 after buying an additional 24,812 shares in the last quarter. HM Payson & Co. grew its position in shares of Lowe’s Companies by 1.1% in the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after buying an additional 2,322 shares during the last quarter. Weiss Asset Management LP bought a new position in shares of Lowe’s Companies during the 3rd quarter worth approximately $16,143,000. Finally, Daymark Wealth Partners LLC lifted its position in Lowe’s Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after acquiring an additional 2,889 shares during the last quarter. 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.