ERn Financial LLC Acquires New Stake in Lowe’s Companies, Inc. (NYSE:LOW)

ERn Financial LLC acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 883 shares of the home improvement retailer’s stock, valued at approximately $225,000.

Other institutional investors have also bought and sold shares of the company. Wetzel Investment Advisors Inc. bought a new stake in Lowe’s Companies during the 4th quarter valued at $25,000. Orion Capital Management LLC bought a new stake in Lowe’s Companies during the 3rd quarter valued at $26,000. Tidemark LLC bought a new stake in Lowe’s Companies during the 4th quarter valued at $27,000. Voisard Asset Management Group Inc. bought a new stake in Lowe’s Companies during the 4th quarter valued at $28,000. Finally, Transcendent Capital Group LLC bought a new stake in Lowe’s Companies during the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.5 %

Shares of LOW opened at $219.85 on Friday. The company has a market capitalization of $125.28 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 1.68 and a beta of 1.08. The firm has a 50 day moving average of $225.69 and a 200 day moving average of $228.22. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The company had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same quarter last year, the firm earned $3.67 earnings per share. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. On average, sell-side analysts expect that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.27%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio is currently 35.34%.

Wall Street Analyst Weigh In

LOW has been the topic of several research analyst reports. Gordon Haskett reaffirmed a “hold” rating and issued a $245.00 price target on shares of Lowe’s Companies in a report on Wednesday, April 3rd. Oppenheimer reaffirmed a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a report on Monday, March 4th. StockNews.com cut Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th. Truist Financial reduced their target price 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. Finally, Telsey Advisory Group reissued a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday, May 21st. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies has an average rating of “Hold” and an average price target of $251.33.

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.