Parsons Capital Management Inc. RI Trims Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Parsons Capital Management Inc. RI trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 5.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,395 shares of the home improvement retailer’s stock after selling 1,034 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Lowe’s Companies were worth $4,293,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in LOW. IFS Advisors LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter worth about $25,000. Legacy Investment Solutions LLC acquired a new stake in shares of Lowe’s Companies in the third quarter valued at approximately $27,000. Winch Advisory Services LLC grew its position in shares of Lowe’s Companies by 56.4% in the fourth quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after purchasing an additional 44 shares during the last quarter. JNBA Financial Advisors grew its position in shares of Lowe’s Companies by 555.6% in the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Finally, MFA Wealth Advisors LLC grew its position in shares of Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 70 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

LOW stock opened at $264.73 on Monday. The stock has a market cap of $149.48 billion, a P/E ratio of 21.98, a P/E/G ratio of 2.16 and a beta of 1.11. The firm has a 50 day simple moving average of $259.11 and a 200 day simple moving average of $256.48. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total value of $1,974,915.26. Following the completion of the sale, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. The trade was a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LOW has been the topic of several research reports. Evercore ISI increased their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company an “in-line” rating in a research report on Thursday, December 12th. TD Cowen increased their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Barclays increased their price target on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 20th. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and increased their price target for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada increased their price objective on shares of Lowe’s Companies from $291.00 to $292.00 and gave the stock a “sector perform” rating in a research report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $280.85.

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.