Parsons Capital Management Inc. RI Sells 258 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Parsons Capital Management Inc. RI trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 17,137 shares of the home improvement retailer’s stock after selling 258 shares during the period. Parsons Capital Management Inc. RI’s holdings in Lowe’s Companies were worth $3,997,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of LOW. Klingenstein Fields & Co. LP grew its position in shares of Lowe’s Companies by 1.0% during the fourth quarter. Klingenstein Fields & Co. LP now owns 4,101 shares of the home improvement retailer’s stock worth $1,012,000 after purchasing an additional 39 shares in the last quarter. Gen Wealth Partners Inc boosted its stake in Lowe’s Companies by 1.9% during the fourth quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock valued at $534,000 after buying an additional 40 shares during the last quarter. Cordatus Wealth Management LLC boosted its stake in Lowe’s Companies by 0.3% during the fourth quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer’s stock valued at $3,705,000 after buying an additional 41 shares during the last quarter. O Brien Greene & Co. Inc lifted its stake in shares of Lowe’s Companies by 1.5% in the 4th quarter. O Brien Greene & Co. Inc now owns 2,896 shares of the home improvement retailer’s stock valued at $715,000 after purchasing an additional 42 shares during the last quarter. Finally, FFT Wealth Management LLC lifted its stake in shares of Lowe’s Companies by 3.1% in the 4th quarter. FFT Wealth Management LLC now owns 1,377 shares of the home improvement retailer’s stock valued at $340,000 after purchasing an additional 42 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe’s Companies stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the sale, the executive vice president now owns 31,898 shares of the company’s stock, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $223.59 on Tuesday. The stock has a market capitalization of $125.31 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.96 and a beta of 0.92. Lowe’s Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The business has a fifty day moving average price of $223.49 and a 200-day moving average price of $241.12.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. The firm had revenue of $20.93 billion during the quarter, compared to analysts’ expectations of $21.09 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.06 EPS. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be given a $1.20 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.15%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.77%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LOW. Mizuho set a $280.00 price objective on Lowe’s Companies and gave the company an “outperform” rating in a research note on Thursday, May 22nd. BNP Paribas raised Lowe’s Companies to a “strong sell” rating in a research note on Thursday, February 27th. Truist Financial set a $264.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a report on Thursday, May 22nd. KeyCorp upgraded Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price target on the stock in a report on Friday, April 25th. Finally, Sanford C. Bernstein set a $266.00 price objective on Lowe’s Companies and gave the stock an “outperform” rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and an average price target of $271.12.

Lowe’s Companies Company 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.