Assenagon Asset Management S.A. Sells 203,232 Shares of Lowe’s Companies, Inc. $LOW

Assenagon Asset Management S.A. cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 86.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,898 shares of the home improvement retailer’s stock after selling 203,232 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Lowe’s Companies were worth $8,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Howard Hughes Medical Institute acquired a new stake in Lowe’s Companies during the second quarter worth approximately $27,000. Solstein Capital LLC grew its position in shares of Lowe’s Companies by 627.8% in the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after purchasing an additional 113 shares during the last quarter. Traub Capital Management LLC bought a new position in shares of Lowe’s Companies during the second quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC lifted its holdings in Lowe’s Companies by 128.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after purchasing an additional 76 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new stake in Lowe’s Companies during the 2nd quarter worth approximately $33,000. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 2.8%

LOW opened at $240.72 on Friday. The stock has a market capitalization of $135.03 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 3.99 and a beta of 0.96. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $274.98. The company has a 50-day simple moving average of $239.68 and a 200 day simple moving average of $239.90.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, November 19th. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The company had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. During the same period in the previous year, the company earned $2.89 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Lowe’s Companies has set its FY 2025 guidance at 12.250-12.250 EPS. Sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be paid a dividend of $1.20 per share. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 annualized dividend and a yield of 2.0%. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

Analysts Set New Price Targets

LOW has been the topic of a number of research reports. Truist Financial set a $269.00 price objective on Lowe’s Companies in a report on Wednesday. Wolfe Research decreased their price target on shares of Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating on the stock in a research note on Monday, November 24th. Oppenheimer dropped their price objective on shares of Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, December 5th. Evercore ISI reissued a “positive” rating on shares of Lowe’s Companies in a report on Thursday, November 20th. Finally, Robert W. Baird lowered their target price on shares of Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Sixteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $276.46.

Lowe’s Companies Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.