Parcion Private Wealth LLC Cuts Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Parcion Private Wealth LLC decreased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 929 shares of the home improvement retailer’s stock after selling 39 shares during the period. Parcion Private Wealth LLC’s holdings in Lowe’s Companies were worth $252,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LOW. Stephens Consulting LLC boosted its position in shares of Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares in the last quarter. Keener Financial Planning LLC acquired a new position in shares of Lowe’s Companies during the 1st quarter worth about $35,000. MFA Wealth Advisors LLC boosted its position in shares of Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after acquiring an additional 70 shares in the last quarter. Kimelman & Baird LLC acquired a new position in shares of Lowe’s Companies during the 2nd quarter worth about $37,000. Finally, Tsfg LLC boosted its position in shares of Lowe’s Companies by 128.2% during the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 100 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LOW shares. Telsey Advisory Group upped their price objective on Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. decreased their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Morgan Stanley upped their target price on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Gordon Haskett decreased their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Finally, Sanford C. Bernstein initiated coverage on Lowe’s Companies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 target price for the company. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $270.60.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $267.64 on Friday. The business’s fifty day moving average price is $260.81 and its two-hundred day moving average price is $239.84. The stock has a market cap of $151.83 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the prior year, the firm earned $4.56 EPS. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.72%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.14%.

About Lowe’s Companies

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.