Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) declared a quarterly dividend on Friday, March 24th, RTT News reports. Investors of record on Wednesday, April 26th will be given a dividend of 1.05 per share by the home improvement retailer on Wednesday, May 10th. This represents a $4.20 annualized dividend and a dividend yield of 2.22%.

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Lowe’s Companies has raised its dividend payment by an average of 22.9% per year over the last three years and has increased its dividend every year for the last 49 years. Lowe’s Companies has a payout ratio of 28.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lowe’s Companies to earn $15.08 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 27.9%.

Lowe’s Companies Trading Down 0.1 %

NYSE:LOW traded down $0.23 during trading hours on Friday, reaching $189.46. 2,683,216 shares of the company were exchanged, compared to its average volume of 3,156,490. The stock’s 50-day moving average is $204.87 and its 200-day moving average is $200.98. The firm has a market cap of $117.60 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.08 and a beta of 1.10. Lowe’s Companies has a twelve month low of $170.12 and a twelve month high of $223.31.

Lowe’s Companies (NYSE:LOW – Get Rating) last posted its quarterly earnings data on Wednesday, March 1st. The home improvement retailer reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.07. Lowe’s Companies had a net margin of 6.63% and a negative return on equity of 82.30%. The company had revenue of $22.40 billion during the quarter, compared to analysts’ expectations of $22.71 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, research analysts anticipate that Lowe’s Companies will post 13.83 EPS for the current year.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Donald Frieson sold 9,411 shares of Lowe’s Companies stock in a transaction on Wednesday, March 15th. The stock was sold at an average price of $197.00, for a total transaction of $1,853,967.00. Following the completion of the transaction, the executive vice president now owns 17,888 shares of the company’s stock, valued at approximately $3,523,936. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley raised its stake in Lowe’s Companies by 21.3% in the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock valued at $2,329,237,000 after purchasing an additional 2,050,089 shares during the last quarter. Norges Bank purchased a new stake in Lowe’s Companies in the 4th quarter valued at about $1,461,267,000. Moneta Group Investment Advisors LLC grew its holdings in Lowe’s Companies by 107,710.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after buying an additional 5,075,327 shares during the period. Renaissance Technologies LLC grew its holdings in Lowe’s Companies by 7,952.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,586,400 shares of the home improvement retailer’s stock valued at $320,754,000 after buying an additional 1,566,700 shares during the period. Finally, First Trust Advisors LP grew its holdings in Lowe’s Companies by 209.0% in the 1st quarter. First Trust Advisors LP now owns 1,219,542 shares of the home improvement retailer’s stock valued at $246,579,000 after buying an additional 824,915 shares during the period. Institutional investors and hedge funds own 72.62% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LOW. Morgan Stanley reissued an “overweight” rating and issued a $235.00 price objective on shares of Lowe’s Companies in a report on Monday, February 13th. JPMorgan Chase & Co. dropped their price objective on shares of Lowe’s Companies from $230.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, March 2nd. Roth Capital reaffirmed a “neutral” rating on shares of Lowe’s Companies in a research note on Wednesday, March 1st. Oppenheimer lowered their target price on shares of Lowe’s Companies from $300.00 to $275.00 in a research note on Tuesday, February 28th. Finally, UBS Group lowered their target price on shares of Lowe’s Companies from $260.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, January 6th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $225.00.

Lowe’s Companies Company Profile

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Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.

See Also

Dividend History for Lowe's Companies (NYSE:LOW)

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