Parsons Capital Management Inc. RI Sells 1,034 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Parsons Capital Management Inc. RI lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,395 shares of the home improvement retailer’s stock after selling 1,034 shares during the period. Parsons Capital Management Inc. RI’s holdings in Lowe’s Companies were worth $4,293,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LOW. Mount Yale Investment Advisors LLC increased its position in shares of Lowe’s Companies by 46.1% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 7,094 shares of the home improvement retailer’s stock valued at $1,751,000 after acquiring an additional 2,239 shares during the period. Valued Wealth Advisors LLC increased its position in shares of Lowe’s Companies by 177.8% in the 4th quarter. Valued Wealth Advisors LLC now owns 200 shares of the home improvement retailer’s stock valued at $49,000 after acquiring an additional 128 shares during the period. McLean Asset Management Corp increased its position in shares of Lowe’s Companies by 11.8% in the 4th quarter. McLean Asset Management Corp now owns 1,100 shares of the home improvement retailer’s stock valued at $271,000 after acquiring an additional 116 shares during the period. Pacer Advisors Inc. increased its position in shares of Lowe’s Companies by 56.3% in the 4th quarter. Pacer Advisors Inc. now owns 66,073 shares of the home improvement retailer’s stock valued at $16,307,000 after acquiring an additional 23,807 shares during the period. Finally, United Asset Strategies Inc. increased its position in shares of Lowe’s Companies by 3.3% in the 4th quarter. United Asset Strategies Inc. now owns 6,661 shares of the home improvement retailer’s stock valued at $1,644,000 after acquiring an additional 215 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 1.0 %

NYSE:LOW opened at $264.73 on Monday. The company has a fifty day simple moving average of $259.11 and a two-hundred day simple moving average of $256.48. The company has a market cap of $149.48 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 2.16 and a beta of 1.11. Lowe’s Companies, Inc. has a 52 week low of $209.81 and a 52 week high of $287.01.

Lowe’s Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.74%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on LOW. Truist Financial cut their target price 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. Guggenheim reissued a “buy” rating and issued a $300.00 target price on shares of Lowe’s Companies in a research report on Thursday, December 12th. 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. 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. Finally, Stifel Nicolaus increased their price target on Lowe’s Companies from $265.00 to $270.00 and gave the stock a “hold” rating in a research report on Wednesday, December 11th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus target price of $280.85.

Insiders Place Their Bets

In related news, EVP Quonta D. Vance sold 7,198 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the transaction, the executive vice president now owns 16,703 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

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.