Assenagon Asset Management S.A. Sells 504,597 Shares of Lowe's Companies, Inc. $LOW

Key Points

• Assenagon Asset Management S.A. significantly reduced its stake in Lowe's Companies by 68.2%, selling 504,597 shares and leaving it with 235,130 shares valued at approximately $52.2 million.
• A variety of brokerages have adjusted their price targets on Lowe's stock, with JPMorgan raising its target from $280 to $283 while UBS increased it from $300 to $325, with overall analyst sentiment reflecting a "Moderate Buy" rating.
• Lowe's Companies reported quarterly earnings of $4.33 per share, slightly exceeding expectations, but also announced a cut in its dividend to $0.012 per share, reflecting ongoing adjustments to its financial strategy.

Assenagon Asset Management S.A. trimmed its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 68.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 235,130 shares of the home improvement retailer's stock after selling 504,597 shares during the period. Assenagon Asset Management S.A.'s holdings in Lowe's Companies were worth $52,168,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vertex Planning Partners LLC raised its holdings in shares of Lowe's Companies by 2.9% in the first quarter. Vertex Planning Partners LLC now owns 1,582 shares of the home improvement retailer's stock valued at $369,000 after acquiring an additional 44 shares in the last quarter. Quadcap Wealth Management LLC boosted its position in Lowe's Companies by 0.5% during the first quarter. Quadcap Wealth Management LLC now owns 9,386 shares of the home improvement retailer's stock worth $2,189,000 after purchasing an additional 46 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Lowe's Companies by 0.8% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 5,817 shares of the home improvement retailer's stock worth $1,357,000 after buying an additional 47 shares during the period. Fielder Capital Group LLC raised its position in shares of Lowe's Companies by 5.9% during the 1st quarter. Fielder Capital Group LLC now owns 865 shares of the home improvement retailer's stock worth $202,000 after purchasing an additional 48 shares during the period. Finally, Dumont & Blake Investment Advisors LLC boosted its stake in shares of Lowe's Companies by 1.1% during the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 4,570 shares of the home improvement retailer's stock worth $1,066,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on LOW shares. Wells Fargo & Company increased their price objective on Lowe's Companies from $260.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, August 21st. Piper Sandler raised their price target on shares of Lowe's Companies from $269.00 to $294.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Citigroup reduced their target price on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating for the company in a report on Thursday, July 31st. Wolfe Research began coverage on shares of Lowe's Companies in a research note on Wednesday. They issued an "outperform" rating on the stock. Finally, Stifel Nicolaus increased their price objective on Lowe's Companies from $240.00 to $265.00 and gave the company a "hold" rating in a report on Monday, August 18th. Seventeen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $285.08.

Lowe's Companies Trading Down 0.7%

Shares of LOW stock traded down $1.89 during mid-day trading on Friday, reaching $265.68. The stock had a trading volume of 4,079,028 shares, compared to its average volume of 2,516,509. The business's fifty day moving average is $247.63 and its 200-day moving average is $232.50. The firm has a market cap of $149.00 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 2.45 and a beta of 0.87. Lowe's Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 20th. The home improvement retailer reported $4.33 earnings per share for the quarter, topping analysts' consensus estimates of $4.24 by $0.09. Lowe's Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The company had revenue of $23.96 billion during the quarter, compared to analysts' expectations of $23.99 billion. During the same period last year, the firm earned $4.10 EPS. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. Lowe's Companies has set its FY 2025 guidance at 12.200-12.450 EPS. On average, analysts forecast that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 5th. Investors of record on Wednesday, October 22nd will be given a $0.012 dividend. This represents a $0.05 annualized dividend and a yield of 0.0%. The ex-dividend date is Wednesday, October 22nd. Lowe's Companies's payout ratio is currently 39.44%.

Insider Buying and Selling at Lowe's Companies

In other Lowe's Companies news, EVP Juliette Williams Pryor sold 929 shares of Lowe's Companies stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $257.20, for a total value of $238,938.80. Following the completion of the sale, the executive vice president owned 30,099 shares in the company, valued at $7,741,462.80. The trade was a 2.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph Michael Mcfarland sold 43,810 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total value of $11,942,606.00. Following the completion of the sale, the executive vice president owned 66,566 shares of the company's stock, valued at approximately $18,145,891.60. This trade represents a 39.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 92,931 shares of company stock valued at $24,945,752 in the last ninety days. 0.27% of the stock is owned by insiders.

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.