Empirical Asset Management LLC Boosts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Empirical Asset Management LLC raised its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4,444.5% during the 4th quarter, Holdings Channel reports. The firm owned 104,614 shares of the home improvement retailer’s stock after buying an additional 102,312 shares during the quarter. Empirical Asset Management LLC’s holdings in Lowe’s Companies were worth $25,819,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Lowe’s Companies by 10.2% in the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after buying an additional 2,399,897 shares during the last quarter. State Street Corp boosted its stake in shares of Lowe’s Companies by 1.9% in the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after buying an additional 460,851 shares during the last quarter. Geode Capital Management LLC boosted its position in Lowe’s Companies by 1.6% during the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after purchasing an additional 187,473 shares in the last quarter. Legal & General Group Plc boosted its position in Lowe’s Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after purchasing an additional 82,978 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Lowe’s Companies by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock worth $912,508,000 after purchasing an additional 39,953 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total value of $1,974,915.26. Following the completion of the sale, the executive vice president now directly owns 16,703 shares of the company’s stock, valued at approximately $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Up 0.8 %

NYSE:LOW opened at $258.70 on Friday. Lowe’s Companies, Inc. has a 52 week low of $209.55 and a 52 week high of $287.01. The company has a market capitalization of $146.07 billion, a P/E ratio of 21.58, a P/E/G ratio of 2.08 and a beta of 1.11. The stock’s fifty day moving average is $260.44 and its two-hundred day moving average is $253.95.

Lowe’s Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be given a $1.15 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 1.78%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Truist Financial lowered their price target on Lowe’s Companies from $310.00 to $307.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Bank of America increased their price target on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Sanford C. Bernstein increased their price target on Lowe’s Companies from $301.00 to $304.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Melius Research assumed coverage on Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target on the stock. Finally, Royal Bank of Canada increased their price target on Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Eleven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $280.85.

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.