Assenagon Asset Management S.A. Has $15.90 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Assenagon Asset Management S.A. raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 141.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,409 shares of the home improvement retailer’s stock after purchasing an additional 37,692 shares during the period. Assenagon Asset Management S.A.’s holdings in Lowe’s Companies were worth $15,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of LOW. StoneX Group Inc. bought a new stake in shares of Lowe’s Companies during the 3rd quarter valued at $2,713,000. Principal Financial Group Inc. boosted its holdings in Lowe’s Companies by 4.0% during the third quarter. Principal Financial Group Inc. now owns 649,601 shares of the home improvement retailer’s stock worth $175,944,000 after buying an additional 24,812 shares during the last quarter. Miracle Mile Advisors LLC grew its position in shares of Lowe’s Companies by 288.6% during the 4th quarter. Miracle Mile Advisors LLC now owns 19,028 shares of the home improvement retailer’s stock worth $4,696,000 after buying an additional 14,132 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Lowe’s Companies by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 362,209 shares of the home improvement retailer’s stock valued at $98,104,000 after acquiring an additional 4,435 shares during the last quarter. Finally, HM Payson & Co. raised its position in shares of Lowe’s Companies by 1.1% in the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after acquiring an additional 2,322 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 1.0 %

NYSE LOW opened at $261.39 on Friday. The company has a market cap of $147.59 billion, a PE ratio of 21.80, a PEG ratio of 2.08 and a beta of 1.11. Lowe’s Companies, Inc. has a 12 month low of $209.55 and a 12 month high of $287.01. The stock has a 50 day moving average of $260.29 and a 200-day moving average of $253.98.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.37%.

Insider Transactions at Lowe’s Companies

In related news, EVP Quonta D. Vance sold 7,198 shares of Lowe’s Companies stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the transaction, the executive vice president now owns 16,703 shares in the company, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research note on Thursday, December 12th. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and upped their price objective for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Evercore ISI lifted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a report on Thursday, December 12th. Wells Fargo & Company increased their price target on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Finally, Stifel Nicolaus lifted their price objective on Lowe’s Companies from $265.00 to $270.00 and gave the company a “hold” rating in a report on Wednesday, December 11th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $280.85.

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.