Parr Mcknight Wealth Management Group LLC Acquires 4,038 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Parr Mcknight Wealth Management Group LLC increased its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,564 shares of the home improvement retailer's stock after acquiring an additional 4,038 shares during the quarter. Lowe's Companies makes up about 1.5% of Parr Mcknight Wealth Management Group LLC's portfolio, making the stock its 10th biggest holding. Parr Mcknight Wealth Management Group LLC's holdings in Lowe's Companies were worth $10,160,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wood Tarver Financial Group LLC purchased a new stake in Lowe's Companies in the 4th quarter worth $25,000. Caisse Des Depots ET Consignations purchased a new stake in Lowe's Companies in the 4th quarter worth $33,000. Fairway Wealth LLC purchased a new stake in Lowe's Companies in the 1st quarter worth $32,000. Orion Capital Management LLC purchased a new stake in Lowe's Companies in the 4th quarter worth $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in Lowe's Companies in the 1st quarter worth $36,000. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Performance

Shares of NYSE LOW traded down $3.79 during trading hours on Friday, hitting $224.12. The stock had a trading volume of 1,840,145 shares, compared to its average volume of 2,493,668. The company has a market capitalization of $125.61 billion, a P/E ratio of 18.57, a P/E/G ratio of 2.12 and a beta of 0.90. The firm's 50-day moving average price is $224.14 and its two-hundred day moving average price is $234.03. Lowe's Companies, Inc. has a 52 week low of $206.39 and a 52 week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The firm had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. During the same quarter in the prior year, the business earned $3.06 earnings per share. The company's revenue was down 2.0% on a year-over-year basis. As a group, analysts expect that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio is presently 38.11%.

Insider Activity at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the transaction, the executive vice president directly owned 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on LOW. Wall Street Zen raised shares of Lowe's Companies from a "hold" rating to a "buy" rating in a report on Tuesday, April 15th. Morgan Stanley lowered their price target on shares of Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Citigroup restated a "neutral" rating and set a $253.00 price target (down from $269.00) on shares of Lowe's Companies in a research report on Wednesday, May 14th. Truist Financial set a $264.00 price target on shares of Lowe's Companies and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Finally, Piper Sandler lowered their price target on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. One research 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 company currently has an average rating of "Moderate Buy" and a consensus target price of $271.12.

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.