Lowe’s Companies, Inc. (LOW) to Issue Quarterly Dividend of $1.15 on February 5th

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 paid a dividend of 1.15 per share by the home improvement retailer on Wednesday, February 5th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Wednesday, January 22nd.

Lowe’s Companies has raised its dividend by an average of 17.1% annually over the last three years and has increased its dividend annually for the last 53 consecutive years. Lowe’s Companies has a payout ratio of 33.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lowe’s Companies to earn $12.56 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 36.6%.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $261.39 on Monday. Lowe’s Companies has a 12 month low of $209.55 and a 12 month high of $287.01. The firm has a market capitalization of $147.59 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.08 and a beta of 1.11. The company’s fifty day moving average price is $260.10 and its two-hundred day moving average price is $254.60.

Insider Activity at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

LOW has been the topic of several research reports. Truist Financial dropped their price objective on shares of Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Barclays increased their price objective on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Stifel Nicolaus increased their price objective on shares of Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. TD Cowen upped their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company increased their price objective on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $280.85.

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.