Parsec Financial Management Inc. Increases Holdings in Lowe’s Companies, Inc. (LOW)

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Parsec Financial Management Inc. boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 235,033 shares of the home improvement retailer’s stock after purchasing an additional 8,750 shares during the period. Lowe’s Companies makes up 1.7% of Parsec Financial Management Inc.’s portfolio, making the stock its 12th largest position. Parsec Financial Management Inc.’s holdings in Lowe’s Companies were worth $26,987,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LOW. Tdam USA Inc. raised its position in shares of Lowe’s Companies by 6.9% in the second quarter. Tdam USA Inc. now owns 7,850 shares of the home improvement retailer’s stock valued at $750,000 after purchasing an additional 504 shares during the period. Central Bank & Trust Co. raised its position in shares of Lowe’s Companies by 4.3% in the second quarter. Central Bank & Trust Co. now owns 12,351 shares of the home improvement retailer’s stock valued at $1,180,000 after purchasing an additional 511 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Lowe’s Companies by 13.3% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 4,367 shares of the home improvement retailer’s stock valued at $417,000 after purchasing an additional 511 shares during the period. Dillon & Associates Inc. raised its position in shares of Lowe’s Companies by 0.7% in the second quarter. Dillon & Associates Inc. now owns 75,416 shares of the home improvement retailer’s stock valued at $7,240,000 after purchasing an additional 535 shares during the period. Finally, Oak Asset Management LLC raised its position in shares of Lowe’s Companies by 2.1% in the third quarter. Oak Asset Management LLC now owns 26,383 shares of the home improvement retailer’s stock valued at $3,029,000 after purchasing an additional 535 shares during the period. 74.60% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:LOW opened at $94.74 on Wednesday. The company has a market cap of $75.80 billion, a P/E ratio of 21.58, a PEG ratio of 1.24 and a beta of 1.39. Lowe’s Companies, Inc. has a 12 month low of $75.36 and a 12 month high of $117.70. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.06 and a quick ratio of 0.25.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, beating the consensus estimate of $2.02 by $0.05. The company had revenue of $20.89 billion during the quarter, compared to analysts’ expectations of $20.79 billion. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. Lowe’s Companies’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.57 earnings per share. As a group, equities research analysts anticipate that Lowe’s Companies, Inc. will post 5.19 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 7th. Investors of record on Wednesday, October 24th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $1.92 annualized dividend and a yield of 2.03%. Lowe’s Companies’s dividend payout ratio is currently 43.74%.

In related news, CFO Marshall A. Croom sold 15,735 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total transaction of $1,803,388.35. Following the completion of the transaction, the chief financial officer now owns 63,099 shares of the company’s stock, valued at $7,231,776.39. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Lisa W. Wardell purchased 273 shares of the business’s stock in a transaction on Friday, August 24th. The stock was bought at an average cost of $107.72 per share, with a total value of $29,407.56. Following the purchase, the director now owns 273 shares in the company, valued at $29,407.56. The disclosure for this purchase can be found here. 0.30% of the stock is currently owned by insiders.

Several analysts have recently issued reports on LOW shares. Zacks Investment Research raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research report on Tuesday, July 24th. Loop Capital set a $115.00 price target on shares of Lowe’s Companies and gave the company a “buy” rating in a research report on Wednesday, July 18th. Argus boosted their price target on shares of Lowe’s Companies to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Deutsche Bank boosted their price target on shares of Lowe’s Companies to $118.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Finally, Bank of America boosted their price target on shares of Lowe’s Companies from $113.00 to $126.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Eight research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Lowe’s Companies has a consensus rating of “Buy” and an average target price of $112.11.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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