Lowe’s Companies (NYSE:LOW) Given New $282.00 Price Target at Mizuho

Lowe’s Companies (NYSE:LOW) had its price objective raised by Mizuho from $280.00 to $282.00 in a report released on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the home improvement retailer’s stock.

Several other research firms have also recently commented on LOW. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their target price for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. 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. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. UBS Group lifted their price target 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. Finally, Wells Fargo & Company increased their price objective on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $277.92.

Lowe’s Companies Trading Down 0.2 %

LOW stock opened at $264.68 on Wednesday. The stock has a market cap of $150.15 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. The stock has a 50-day moving average price of $268.74 and a two-hundred day moving average price of $244.83. Lowe’s Companies has a 1 year low of $196.23 and a 1 year high of $287.01.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.74%. Lowe’s Companies’s payout ratio is currently 38.37%.

Insider Buying and Selling

In other news, 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated 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 completion of the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lowe’s Companies

Institutional investors have recently added to or reduced their stakes in the stock. Bamco Inc. NY increased its stake in shares of Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after purchasing an additional 20,181 shares during the last quarter. Plato Investment Management Ltd grew its holdings in Lowe’s Companies by 655.9% during the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after purchasing an additional 5,470 shares during the period. HM Payson & Co. increased its position in Lowe’s Companies by 1.1% in the third 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. Daymark Wealth Partners LLC lifted its position in shares of Lowe’s Companies by 12.7% during the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after buying an additional 2,889 shares during the last quarter. Finally, AMF Tjanstepension AB grew its stake in shares of Lowe’s Companies by 14.4% during the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after acquiring an additional 20,123 shares during the period. Institutional investors own 74.06% 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.