Summit Trail Advisors LLC Purchases 2,827 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Summit Trail Advisors LLC boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 38.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,171 shares of the home improvement retailer’s stock after buying an additional 2,827 shares during the quarter. Summit Trail Advisors LLC’s holdings in Lowe’s Companies were worth $2,242,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after acquiring an additional 2,674,372 shares during the last quarter. Strategic Financial Concepts LLC increased its holdings in Lowe’s Companies by 20,275.6% in the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after purchasing an additional 1,199,100 shares during the period. M&G Plc bought a new position in Lowe’s Companies during the 1st quarter worth $217,995,000. Pathstone Holdings LLC acquired a new position in Lowe’s Companies during the 4th quarter worth about $126,615,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Lowe’s Companies by 36.6% during 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 buying an additional 493,180 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Trading Down 0.3 %

LOW opened at $260.14 on Friday. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The company has a market cap of $148.24 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 2.03 and a beta of 1.10. The company’s fifty day moving average price is $243.58 and its two-hundred day moving average price is $235.36.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.56 EPS. As a group, equities analysts forecast that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given 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 1.77%. Lowe’s Companies’s payout ratio is presently 36.95%.

Insider Buying and Selling

In other Lowe’s Companies 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on LOW shares. TD Cowen raised their price objective on Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research report on Thursday. Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Truist Financial upped their price objective on shares of Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Bank of America lowered their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Finally, Evercore ISI boosted their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $253.33.

Lowe’s Companies Company 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.