Lowe’s Companies, Inc. (NYSE:LOW) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 151.6% during the second quarter, Holdings Channel reports. The institutional investor owned 344,300 shares of the home improvement retailer’s stock after acquiring an additional 207,453 shares during the period. Assenagon Asset Management S.A.’s holdings in Lowe’s Companies were worth $75,904,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LOW. Wetzel Investment Advisors Inc. acquired a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $25,000. Tidemark LLC purchased a new position in shares of Lowe’s Companies in the fourth quarter valued at $27,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Lowe’s Companies in the 4th quarter worth about $28,000. Transcendent Capital Group LLC acquired a new stake in Lowe’s Companies in the 4th quarter valued at about $31,000. Finally, Pacific Capital Wealth Advisors Inc. acquired a new position in Lowe’s Companies during the fourth quarter worth about $33,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

LOW traded up $1.15 on Friday, reaching $241.21. 1,725,717 shares of the company’s stock were exchanged, compared to its average volume of 2,529,547. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The company’s 50 day moving average is $229.89 and its 200-day moving average is $231.63. The company has a market cap of $137.45 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The company had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the previous year, the firm earned $3.67 earnings per share. Lowe’s Companies’s revenue for the quarter was down 4.4% on a year-over-year basis. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current year.

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.25%. The ex-dividend date was Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Analyst Ratings Changes

LOW has been the topic of a number of recent research reports. Citigroup reduced their target price on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Truist Financial dropped their price objective on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, May 22nd. JPMorgan Chase & Co. raised their price target on shares of Lowe’s Companies from $268.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, DA Davidson cut their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Fourteen investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $250.19.

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.