Lowe’s Companies, Inc. (NYSE:LOW) Announces Quarterly Dividend of $1.10

Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) announced a quarterly dividend on Friday, May 26th, RTT News reports. Shareholders of record on Wednesday, July 26th will be given a dividend of 1.10 per share by the home improvement retailer on Wednesday, August 9th. This represents a $4.40 annualized dividend and a yield of 2.15%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.05.

Lowe’s Companies has raised its dividend by an average of 22.9% annually over the last three years and has raised its dividend every year for the last 49 years. Lowe’s Companies has a payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lowe’s Companies to earn $14.71 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 28.6%.

Lowe’s Companies Stock Performance

Shares of NYSE LOW traded up $3.39 during midday trading on Friday, hitting $204.43. 791,883 shares of the company traded hands, compared to its average volume of 2,960,844. Lowe’s Companies has a 12-month low of $170.12 and a 12-month high of $223.31. The stock has a 50-day moving average price of $201.92 and a 200 day moving average price of $204.19. The firm has a market cap of $121.91 billion, a P/E ratio of 19.58, a P/E/G ratio of 1.20 and a beta of 1.09.

Lowe’s Companies (NYSE:LOW – Get Rating) last announced its quarterly earnings results on Tuesday, May 23rd. The home improvement retailer reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.19. Lowe’s Companies had a net margin of 6.65% and a negative return on equity of 68.42%. The company had revenue of $22.35 billion for the quarter, compared to analysts’ expectations of $21.68 billion. During the same quarter in the previous year, the company earned $3.51 earnings per share. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities analysts expect that Lowe’s Companies will post 13.46 earnings per share for the current year.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Donald Frieson sold 9,411 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $197.00, for a total value of $1,853,967.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LOW. Sanctuary Wealth Management L.L.C. bought a new position in shares of Lowe’s Companies during the fourth quarter worth approximately $35,000. True Wealth Design LLC bought a new position in Lowe’s Companies during the 4th quarter worth $42,000. Covestor Ltd raised its position in Lowe’s Companies by 74.6% during the 1st quarter. Covestor Ltd now owns 295 shares of the home improvement retailer’s stock worth $60,000 after purchasing an additional 126 shares during the last quarter. Worth Asset Management LLC bought a new position in shares of Lowe’s Companies in the 1st quarter worth about $63,000. Finally, GeoWealth Management LLC bought a new position in shares of Lowe’s Companies in the 1st quarter worth about $84,000. 72.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on LOW shares. Argus reduced their target price on shares of Lowe’s Companies from $290.00 to $250.00 in a report on Thursday. 888 reissued a “maintains” rating on shares of Lowe’s Companies in a research note on Wednesday, May 17th. DA Davidson increased their price objective on shares of Lowe’s Companies from $228.00 to $237.00 in a research note on Wednesday. Morgan Stanley reissued an “overweight” rating and issued a $235.00 price objective on shares of Lowe’s Companies in a research note on Monday, February 13th. Finally, Barclays reduced their price objective on shares of Lowe’s Companies from $215.00 to $212.00 in a research note on Wednesday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies has an average rating of “Hold” and an average price target of $222.23.

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.