Assenagon Asset Management S.A. raised its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 141.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC increased its position in Lowe's Companies by 308.0% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 28,315 shares of the home improvement retailer's stock valued at $6,988,000 after purchasing an additional 21,375 shares during the period. Pines Wealth Management LLC bought a new stake in shares of Lowe's Companies during the fourth quarter valued at approximately $1,657,000. Wynn Capital LLC lifted its holdings in shares of Lowe's Companies by 1.4% during the fourth quarter. Wynn Capital LLC now owns 3,604 shares of the home improvement retailer's stock valued at $890,000 after purchasing an additional 50 shares in the last quarter. Graves Light Lenhart Wealth Inc. raised its holdings in shares of Lowe's Companies by 155.2% during the fourth quarter. Graves Light Lenhart Wealth Inc. now owns 3,603 shares of the home improvement retailer's stock valued at $889,000 after purchasing an additional 2,191 shares during the last quarter. Finally, Johnson & White Wealth Management LLC bought a new stake in shares of Lowe's Companies in the fourth quarter worth $214,000. 74.06% of the stock is owned by hedge funds and other institutional investors.
Lowe's Companies Stock Up 1.0 %
Shares of NYSE:LOW traded up $2.61 on Friday, reaching $261.39. The company had a trading volume of 2,758,504 shares, compared to its average volume of 1,989,226. The stock has a market capitalization of $147.59 billion, a P/E ratio of 21.80, a P/E/G ratio of 2.08 and a beta of 1.11. The stock has a 50-day moving average price of $260.10 and a 200 day moving average price of $254.31. Lowe's Companies, Inc. has a twelve month low of $209.55 and a twelve month high of $287.01.
Lowe's Companies Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 annualized dividend and a dividend yield of 1.76%. Lowe's Companies's payout ratio is 38.37%.
Insider Buying and Selling at Lowe's Companies
In related news, EVP Quonta D. Vance sold 7,198 shares of the company's stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the transaction, the executive vice president now owns 16,703 shares in the company, valued at $4,582,802.11. This represents a 30.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on LOW. DA Davidson increased their price objective on shares of Lowe's Companies from $240.00 to $270.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 20th. Oppenheimer upgraded shares of Lowe's Companies from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Guggenheim reissued a "buy" rating and set a $300.00 target price on shares of Lowe's Companies in a research report on Thursday, December 12th. StockNews.com upgraded Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Stifel Nicolaus upped their price target on shares of Lowe's Companies from $265.00 to $270.00 and gave the stock a "hold" rating in a report on Wednesday, December 11th. Ten investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $280.85.
Read Our Latest Report on LOW
Lowe's Companies Profile
(
Free Report)
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.
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