Parr Mcknight Wealth Management Group LLC Buys Shares of 39,526 Lowe’s Companies, Inc. (NYSE:LOW)

Parr Mcknight Wealth Management Group LLC bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 39,526 shares of the home improvement retailer’s stock, valued at approximately $9,755,000. Lowe’s Companies comprises approximately 1.4% of Parr Mcknight Wealth Management Group LLC’s portfolio, making the stock its 12th biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Klingenstein Fields & Co. LP raised its holdings in shares of Lowe’s Companies by 1.0% in the 4th 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 during the period. Powers Advisory Group LLC raised its holdings in shares of Lowe’s Companies by 2.7% in the 4th quarter. Powers Advisory Group LLC now owns 1,541 shares of the home improvement retailer’s stock worth $380,000 after purchasing an additional 40 shares during the period. Saxony Capital Management LLC raised its holdings in shares of Lowe’s Companies by 4.2% in the 4th quarter. Saxony Capital Management LLC now owns 994 shares of the home improvement retailer’s stock worth $245,000 after purchasing an additional 40 shares during the period. Gen Wealth Partners Inc raised its holdings in shares of Lowe’s Companies by 1.9% in the 4th quarter. Gen Wealth Partners Inc now owns 2,163 shares of the home improvement retailer’s stock worth $534,000 after purchasing an additional 40 shares during the period. Finally, Cordatus Wealth Management LLC raised its holdings in shares of Lowe’s Companies by 0.3% in the 4th quarter. Cordatus Wealth Management LLC now owns 15,012 shares of the home improvement retailer’s stock worth $3,705,000 after purchasing an additional 41 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Down 1.6%

Shares of NYSE LOW opened at $223.74 on Friday. Lowe’s Companies, Inc. has a twelve month low of $206.39 and a twelve month high of $287.01. The company has a market capitalization of $125.23 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. The business has a 50 day simple moving average of $224.65 and a 200-day simple moving average of $245.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the previous year, the business earned $3.06 EPS. The business’s quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd were issued a $1.15 dividend. The ex-dividend date was Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.06%. Lowe’s Companies’s dividend payout ratio (DPR) is 37.67%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LOW. Bank of America cut their price objective on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. KeyCorp upgraded Lowe’s Companies from a “sector weight” rating to an “overweight” rating and set a $266.00 price objective on the stock in a report on Friday, April 25th. Robert W. Baird cut their price objective on Lowe’s Companies from $295.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday. 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. Finally, Citigroup restated a “neutral” rating and issued a $253.00 price objective (down from $269.00) on shares of Lowe’s Companies in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $271.52.

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.