Parallel Advisors LLC Has $2.12 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Parallel Advisors LLC increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,606 shares of the home improvement retailer’s stock after purchasing an additional 184 shares during the quarter. Parallel Advisors LLC’s holdings in Lowe’s Companies were worth $2,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. FMR LLC boosted its holdings in Lowe’s Companies by 10.2% during the third quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after buying an additional 2,399,897 shares during the last quarter. State Street Corp boosted its holdings in Lowe’s Companies by 1.9% during the third quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock worth $6,774,948,000 after buying an additional 460,851 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Lowe’s Companies by 1.6% during the third quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer’s stock worth $3,169,041,000 after buying an additional 187,473 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Lowe’s Companies by 10.2% during the fourth quarter. Bank of New York Mellon Corp now owns 4,186,720 shares of the home improvement retailer’s stock worth $1,033,283,000 after buying an additional 385,994 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Lowe’s Companies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,459,064 shares of the home improvement retailer’s stock valued at $853,697,000 after purchasing an additional 90,012 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Trading Down 1.3 %

LOW stock opened at $222.96 on Wednesday. The firm has a market capitalization of $125.89 billion, a PE ratio of 18.60, a PEG ratio of 1.96 and a beta of 1.12. Lowe’s Companies, Inc. has a 1-year low of $211.80 and a 1-year high of $287.01. The business’s 50 day simple moving average is $249.24 and its 200 day simple moving average is $258.30.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion for the quarter, compared to analyst estimates of $18.29 billion. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Royal Bank of Canada cut their price objective on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating on the stock in a report on Thursday, February 27th. StockNews.com cut Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday, March 11th. Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a report on Wednesday, February 26th. Bank of America cut their price objective on Lowe’s Companies from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Piper Sandler cut their target price on Lowe’s Companies from $307.00 to $296.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $280.83.

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.