Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 2,867 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 99.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,748 shares of the home improvement retailer’s stock after acquiring an additional 2,867 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Lowe’s Companies were worth $1,464,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of LOW. Wetzel Investment Advisors Inc. bought a new stake in shares of Lowe’s Companies during the fourth quarter worth $25,000. Tidemark LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter worth $27,000. Voisard Asset Management Group Inc. bought a new stake in shares of Lowe’s Companies during the fourth quarter worth $28,000. Keener Financial Planning LLC bought a new stake in shares of Lowe’s Companies during the first quarter worth $35,000. Finally, Transcendent Capital Group LLC bought a new stake in shares of Lowe’s Companies during the fourth quarter worth $31,000. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Stock Up 1.9 %

Shares of NYSE:LOW traded up $4.33 during mid-day trading on Friday, reaching $234.08. 3,180,752 shares of the stock were exchanged, compared to its average volume of 2,778,987. The company has a market cap of $133.39 billion, a P/E ratio of 18.80, a P/E/G ratio of 1.76 and a beta of 1.08. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The stock’s 50 day simple moving average is $222.97 and its 200-day simple moving average is $228.05.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.12. The business had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. Lowe’s Companies’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the company earned $3.67 earnings per share. Analysts anticipate that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.26%. Lowe’s Companies’s payout ratio is presently 36.95%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LOW. Wedbush restated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research note on Tuesday, May 21st. Truist Financial cut their price target on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating on the stock in a research note on Wednesday, May 22nd. DA Davidson cut their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. Finally, Gordon Haskett reaffirmed a “hold” rating and set a $245.00 price target on shares of Lowe’s Companies in a research note on Wednesday, April 3rd. Fifteen analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Hold” and a consensus price target of $250.04.

Lowe’s Companies 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.