Summit Trail Advisors LLC Acquires 2,763 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Summit Trail Advisors LLC grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 27.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,934 shares of the home improvement retailer’s stock after purchasing an additional 2,763 shares during the quarter. Summit Trail Advisors LLC’s holdings in Lowe’s Companies were worth $3,503,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD raised its holdings in Lowe’s Companies by 36.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after acquiring an additional 493,180 shares during the period. Mount Yale Investment Advisors LLC raised its holdings in Lowe’s Companies by 56.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 4,642 shares of the home improvement retailer’s stock worth $1,182,000 after acquiring an additional 1,669 shares during the period. Ascent Group LLC raised its holdings in Lowe’s Companies by 4.3% in the 1st quarter. Ascent Group LLC now owns 3,596 shares of the home improvement retailer’s stock worth $916,000 after acquiring an additional 148 shares during the period. Captrust Financial Advisors raised its holdings in Lowe’s Companies by 18.3% in the 1st quarter. Captrust Financial Advisors now owns 724,325 shares of the home improvement retailer’s stock worth $184,507,000 after acquiring an additional 111,930 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its holdings in Lowe’s Companies by 15.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 46,509 shares of the home improvement retailer’s stock worth $11,847,000 after acquiring an additional 6,212 shares during the period. Institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on LOW shares. Truist Financial lifted their target price on shares of Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. Sanford C. Bernstein dropped their price objective on shares of Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating on the stock in a report on Wednesday. Piper Sandler boosted their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. JPMorgan Chase & Co. dropped their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Finally, Melius Research initiated coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective on the stock. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies Stock Down 0.2 %

NYSE:LOW opened at $264.68 on Friday. The firm has a market cap of $150.15 billion, a PE ratio of 22.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $196.23 and a 12 month high of $287.01. The company’s 50-day moving average price is $268.74 and its two-hundred day moving average price is $244.83.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were given a $1.15 dividend. The ex-dividend date was Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.74%. Lowe’s Companies’s payout ratio is 38.37%.

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.