Parsons Capital Management Inc. RI Cuts Stock Holdings in Lowe’s Companies, Inc. $LOW

Parsons Capital Management Inc. RI decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,942 shares of the home improvement retailer’s stock after selling 195 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Lowe’s Companies were worth $3,759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in LOW. Fairway Wealth LLC bought a new position in Lowe’s Companies during the first quarter valued at approximately $32,000. Inlight Wealth Management LLC bought a new position in Lowe’s Companies during the first quarter valued at approximately $36,000. IFS Advisors LLC lifted its position in Lowe’s Companies by 60.0% during the first quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 60 shares during the period. TruNorth Capital Management LLC bought a new position in Lowe’s Companies during the first quarter valued at approximately $38,000. Finally, JNBA Financial Advisors lifted its position in Lowe’s Companies by 147.1% during the first quarter. JNBA Financial Advisors now owns 168 shares of the home improvement retailer’s stock valued at $39,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 1.3%

LOW opened at $248.12 on Thursday. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01. The company has a market capitalization of $139.16 billion, a PE ratio of 20.39, a PEG ratio of 2.33 and a beta of 0.88. The firm’s 50 day simple moving average is $253.13 and its two-hundred day simple moving average is $233.78.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.24 by $0.09. The firm had revenue of $23.96 billion during the quarter, compared to analysts’ expectations of $23.99 billion. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $4.10 earnings per share. Lowe’s Companies has set its FY 2025 guidance at 12.200-12.450 EPS. Equities analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 5th. Stockholders of record on Wednesday, October 22nd will be paid a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, October 22nd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.9%. Lowe’s Companies’s dividend payout ratio is 39.44%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LOW shares. Royal Bank Of Canada increased their price objective on shares of Lowe’s Companies from $243.00 to $260.00 and gave the company a “sector perform” rating in a research report on Thursday, August 21st. Truist Financial increased their price objective on shares of Lowe’s Companies from $264.00 to $283.00 and gave the company a “buy” rating in a research report on Thursday, August 21st. Citigroup lowered their price objective on shares of Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating on the stock in a research report on Thursday, July 31st. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research report on Thursday, August 21st. Finally, UBS Group increased their price target on shares of Lowe’s Companies from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, August 21st. Sixteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $285.50.

Insider Activity

In other news, CEO Marvin R. Ellison sold 40,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $264.10, for a total value of $10,564,000.00. Following the completion of the sale, the chief executive officer directly owned 249,043 shares of the company’s stock, valued at $65,772,256.30. This represents a 13.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Juliette Williams Pryor sold 929 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total transaction of $238,938.80. Following the completion of the sale, the executive vice president directly owned 30,099 shares of the company’s stock, valued at approximately $7,741,462.80. This trade represents a 2.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,931 shares of company stock valued at $24,945,752. 0.27% of the stock is currently owned by company insiders.

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.