Glenmede Trust Co. NA Sells 3,421 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Glenmede Trust Co. NA trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,763 shares of the home improvement retailer’s stock after selling 3,421 shares during the period. Glenmede Trust Co. NA’s holdings in Lowe’s Companies were worth $20,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crew Capital Management Ltd. lifted its holdings in Lowe’s Companies by 1.0% in the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after purchasing an additional 37 shares during the last quarter. Summit Place Financial Advisors LLC boosted its holdings in shares of Lowe’s Companies by 2.8% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after buying an additional 37 shares during the period. Clean Yield Group grew its stake in Lowe’s Companies by 2.4% in the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after buying an additional 38 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in Lowe’s Companies by 0.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock worth $2,021,000 after acquiring an additional 40 shares during the period. Finally, Drive Wealth Management LLC lifted its position in Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after acquiring an additional 41 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $273.14 on Thursday. The business’s fifty day moving average is $269.80 and its two-hundred day moving average is $245.66. The firm has a market cap of $154.95 billion, a P/E ratio of 22.78, a P/E/G ratio of 2.31 and a beta of 1.10. Lowe’s Companies, Inc. has a 52 week low of $196.32 and a 52 week high of $287.01.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.68%. Lowe’s Companies’s payout ratio is currently 38.37%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and increased their target price for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. TD Cowen increased their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Stifel Nicolaus upped their price objective on shares of Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Gordon Haskett decreased their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Finally, Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $277.92.

Insider Buying and Selling

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 transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

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.