Parsons Capital Management Inc. RI Increases Stake in Lowe’s Companies, Inc. (LOW)

Parsons Capital Management Inc. RI boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,077 shares of the home improvement retailer’s stock after buying an additional 299 shares during the period. Parsons Capital Management Inc. RI’s holdings in Lowe’s Companies were worth $2,801,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LOW. BlackRock Inc. increased its position in Lowe’s Companies by 1,757.3% in the first quarter. BlackRock Inc. now owns 61,377,883 shares of the home improvement retailer’s stock worth $5,045,875,000 after buying an additional 58,073,138 shares during the period. OppenheimerFunds Inc. increased its position in Lowe’s Companies by 204.0% in the first quarter. OppenheimerFunds Inc. now owns 8,018,171 shares of the home improvement retailer’s stock valued at $659,174,000 after buying an additional 5,380,759 shares during the period. Vanguard Group Inc. increased its position in Lowe’s Companies by 4.3% in the first quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock valued at $5,250,843,000 after buying an additional 2,650,045 shares during the period. Glenview Capital Management LLC increased its position in Lowe’s Companies by 33.8% in the first quarter. Glenview Capital Management LLC now owns 5,452,659 shares of the home improvement retailer’s stock valued at $448,263,000 after buying an additional 1,376,540 shares during the period. Finally, Scopus Asset Management L.P. increased its position in Lowe’s Companies by 866.7% in the first quarter. Scopus Asset Management L.P. now owns 1,450,000 shares of the home improvement retailer’s stock valued at $119,205,000 after buying an additional 1,300,000 shares during the period. Hedge funds and other institutional investors own 74.65% of the company’s stock.

Shares of Lowe’s Companies, Inc. (NYSE LOW) traded down 0.50% during midday trading on Friday, hitting $73.75. The stock had a trading volume of 1,867,448 shares. The firm has a 50 day moving average price of $76.56 and a 200-day moving average price of $79.46. The stock has a market cap of $62.26 billion, a PE ratio of 23.13 and a beta of 1.08. Lowe’s Companies, Inc. has a 52-week low of $64.87 and a 52-week high of $86.25. Lowe’s Companies also saw unusually large options trading activity on Tuesday. Traders purchased 23,265 call options on the company. This represents an increase of 109% compared to the typical daily volume of 11,139 call options.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.03. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The business had revenue of $16.86 billion during the quarter, compared to the consensus estimate of $16.99 billion. During the same quarter in the previous year, the business posted $0.87 earnings per share. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts predict that Lowe’s Companies, Inc. will post $4.62 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 9th. Stockholders of record on Wednesday, July 26th were given a $0.41 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.35. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Monday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 51.57%.

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Several equities analysts recently weighed in on LOW shares. Vetr downgraded Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 target price on the stock. in a research report on Monday, May 8th. Jefferies Group LLC lifted their target price on Lowe’s Companies from $80.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, May 12th. Credit Suisse Group set a $94.00 target price on Lowe’s Companies and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Oppenheimer Holdings, Inc. set a $100.00 target price on Lowe’s Companies and gave the company a “buy” rating in a research report on Wednesday, May 24th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $87.00 target price on shares of Lowe’s Companies in a research report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $85.63.

In other news, insider Richard D. Maltsbarger sold 11,672 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total value of $936,094.40. Following the transaction, the insider now directly owns 37,716 shares in the company, valued at approximately $3,024,823.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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