Lowe’s Companies, Inc. (LOW) Stake Boosted by Assenagon Asset Management S.A.
Assenagon Asset Management S.A. grew its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 54.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 575,933 shares of the home improvement retailer’s stock after acquiring an additional 203,439 shares during the period. Lowe’s Companies comprises 0.6% of Assenagon Asset Management S.A.’s portfolio, making the stock its 26th largest position. Assenagon Asset Management S.A. owned 0.07% of Lowe’s Companies worth $53,193,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. FMR LLC raised its stake in Lowe’s Companies by 8.0% in the third quarter. FMR LLC now owns 21,879,740 shares of the home improvement retailer’s stock worth $2,512,233,000 after buying an additional 1,616,536 shares in the last quarter. Capital International Investors bought a new position in Lowe’s Companies in the third quarter worth about $746,818,000. Winslow Capital Management LLC raised its stake in Lowe’s Companies by 28.4% in the third quarter. Winslow Capital Management LLC now owns 4,081,562 shares of the home improvement retailer’s stock worth $468,645,000 after buying an additional 901,607 shares in the last quarter. AQR Capital Management LLC raised its stake in Lowe’s Companies by 50.0% in the third quarter. AQR Capital Management LLC now owns 2,641,814 shares of the home improvement retailer’s stock worth $303,333,000 after buying an additional 880,253 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Lowe’s Companies by 1.1% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,613,391 shares of the home improvement retailer’s stock worth $300,070,000 after buying an additional 27,559 shares in the last quarter. 74.34% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Brian C. Rogers purchased 10,000 shares of the business’s stock in a transaction dated Friday, November 23rd. The shares were purchased at an average price of $88.02 per share, for a total transaction of $880,200.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $880,200. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.30% of the company’s stock.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, November 20th. The home improvement retailer reported $1.04 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.06. Lowe’s Companies had a net margin of 5.19% and a return on equity of 72.47%. The firm had revenue of $17.42 billion for the quarter, compared to analysts’ expectations of $17.36 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 5.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 6th. Stockholders of record on Wednesday, January 23rd will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Tuesday, January 22nd. Lowe’s Companies’s payout ratio is 43.74%.
A number of brokerages have weighed in on LOW. Bank of America set a $132.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Telsey Advisory Group raised their target price on shares of Lowe’s Companies from $123.00 to $126.00 and gave the company an “outperform” rating in a research note on Friday, September 28th. Wedbush set a $115.00 target price on shares of Lowe’s Companies and gave the company a “neutral” rating in a research note on Monday, October 15th. Royal Bank of Canada raised their target price on shares of Lowe’s Companies to $105.00 and gave the company an “outperform” rating in a research note on Thursday, December 13th. Finally, Loop Capital set a $130.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, October 24th. Ten investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Lowe’s Companies presently has an average rating of “Buy” and a consensus price target of $111.36.
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Lowe’s Companies Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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