Parr Mcknight Wealth Management Group LLC Invests $9.76 Million in Lowe's Companies, Inc. (NYSE:LOW)

Parr Mcknight Wealth Management Group LLC acquired a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 39,526 shares of the home improvement retailer's stock, valued at approximately $9,755,000. Lowe's Companies accounts for approximately 1.4% of Parr Mcknight Wealth Management Group LLC's investment portfolio, making the stock its 12th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nations Financial Group Inc. IA ADV grew its stake in shares of Lowe's Companies by 2.6% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 19,830 shares of the home improvement retailer's stock worth $4,894,000 after purchasing an additional 501 shares during the period. Aptus Capital Advisors LLC grew its stake in shares of Lowe's Companies by 14.0% during the 4th quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock worth $26,236,000 after purchasing an additional 13,092 shares during the period. World Investment Advisors lifted its position in shares of Lowe's Companies by 11.0% during the 4th quarter. World Investment Advisors now owns 26,329 shares of the home improvement retailer's stock valued at $6,498,000 after buying an additional 2,615 shares in the last quarter. Great Lakes Advisors LLC lifted its position in shares of Lowe's Companies by 1.5% during the 4th quarter. Great Lakes Advisors LLC now owns 472,838 shares of the home improvement retailer's stock valued at $116,696,000 after buying an additional 7,187 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Lowe's Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after buying an additional 993,833 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Sanford C. Bernstein set a $266.00 target price on Lowe's Companies and gave the company an "outperform" rating in a research report on Thursday. Piper Sandler decreased their target price on 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. Stifel Nicolaus decreased their target price on Lowe's Companies from $270.00 to $250.00 and set a "hold" rating on the stock in a research report on Monday. Finally, Truist Financial set a $264.00 target price on Lowe's Companies and gave the company a "buy" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Lowe's Companies presently has a consensus rating of "Moderate Buy" and an average target price of $271.52.

Lowe's Companies Trading Down 1.6%

Shares of NYSE:LOW opened at $223.74 on Friday. The business has a 50-day moving average price of $224.65 and a 200 day moving average price of $245.01. The company has a market capitalization of $125.23 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 1.96 and a beta of 1.00. Lowe's Companies, Inc. has a 12-month low of $206.39 and a 12-month high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company's quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the company earned $3.06 EPS. As a group, equities research analysts predict that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lowe's Companies's payout ratio is 37.67%.

Lowe's Companies 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.

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