Assenagon Asset Management S.A. Raises Stake in Lowe's Companies, Inc. (NYSE:LOW)

Assenagon Asset Management S.A. boosted its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1,048.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 739,727 shares of the home improvement retailer's stock after buying an additional 675,318 shares during the period. Assenagon Asset Management S.A. owned approximately 0.13% of Lowe's Companies worth $172,527,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. FMR LLC grew its stake in shares of Lowe's Companies by 1.0% in the 4th quarter. FMR LLC now owns 26,270,496 shares of the home improvement retailer's stock worth $6,483,558,000 after acquiring an additional 259,766 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Lowe's Companies by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 11,979,337 shares of the home improvement retailer's stock worth $2,952,341,000 after acquiring an additional 245,876 shares in the last quarter. Norges Bank bought a new stake in shares of Lowe's Companies in the 4th quarter worth $1,842,954,000. Northern Trust Corp grew its stake in shares of Lowe's Companies by 16.3% in the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after acquiring an additional 993,833 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Lowe's Companies by 6.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,035,630 shares of the home improvement retailer's stock worth $1,242,793,000 after acquiring an additional 323,371 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Stock Up 0.8%

LOW stock traded up $1.75 during midday trading on Thursday, hitting $223.35. The company's stock had a trading volume of 2,485,859 shares, compared to its average volume of 2,522,683. Lowe's Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $287.01. The firm has a market capitalization of $125.17 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 1.96 and a beta of 0.92. The company has a 50 day moving average of $223.64 and a two-hundred day moving average of $240.51.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.04. Lowe's Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. During the same quarter in the prior year, the firm posted $3.06 EPS. Lowe's Companies's quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.15%. This is an increase from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio (DPR) is presently 39.77%.

Insiders Place Their Bets

In related news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the sale, the executive vice president now owns 31,898 shares of the company's stock, valued at $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.27% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on LOW. KeyCorp upgraded shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 target price for the company in a research note on Friday, April 25th. Telsey Advisory Group restated an "outperform" rating and set a $305.00 price target on shares of Lowe's Companies in a research report on Wednesday, May 21st. Piper Sandler reduced their price target on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, Lowe's Companies currently has an average rating of "Moderate Buy" and an average price target of $271.12.

About Lowe's Companies

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.