Condor Capital Management Has $4.97 Million Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Condor Capital Management has reduced its stake in Lowe's Companies by 16.2%, now holding 21,301 shares worth approximately $4.97 million.
• The company recently declared a quarterly dividend of $1.20, reflecting an increase from the previous dividend and a current yield of 2.0%.
• Lowe's has a market cap of $135.27 billion and reported a $2.92 EPS for the last quarter, exceeding analyst expectations.

Condor Capital Management lessened its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 16.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,301 shares of the home improvement retailer's stock after selling 4,121 shares during the period. Condor Capital Management's holdings in Lowe's Companies were worth $4,968,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State of Alaska Department of Revenue grew its holdings in Lowe's Companies by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 125,299 shares of the home improvement retailer's stock worth $29,223,000 after acquiring an additional 1,470 shares in the last quarter. Aptus Capital Advisors LLC grew its holdings in Lowe's Companies by 14.0% during the 4th quarter. Aptus Capital Advisors LLC now owns 106,305 shares of the home improvement retailer's stock worth $26,236,000 after acquiring an additional 13,092 shares in the last quarter. Larson Financial Group LLC grew its holdings in Lowe's Companies by 8.1% during the 1st quarter. Larson Financial Group LLC now owns 16,551 shares of the home improvement retailer's stock worth $3,860,000 after acquiring an additional 1,242 shares in the last quarter. Northern Trust Corp grew its holdings in Lowe's Companies by 16.3% during the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock worth $1,745,960,000 after acquiring an additional 993,833 shares in the last quarter. Finally, Cornerstone Wealth Group LLC grew its holdings in Lowe's Companies by 12.6% during the 1st quarter. Cornerstone Wealth Group LLC now owns 29,361 shares of the home improvement retailer's stock worth $6,848,000 after acquiring an additional 3,295 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe's Companies Stock Down 0.5%

Shares of Lowe's Companies stock traded down $1.11 during trading on Monday, hitting $240.04. The stock had a trading volume of 2,602,458 shares, compared to its average volume of 2,697,837. The stock has a 50 day simple moving average of $224.39 and a 200 day simple moving average of $230.57. The company has a market capitalization of $134.53 billion, a PE ratio of 19.89, a P/E/G ratio of 2.28 and a beta of 0.89. Lowe's Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same period in the previous year, the firm posted $3.06 earnings per share. The firm's revenue was down 2.0% on a year-over-year basis. As a group, equities analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Wednesday, July 23rd. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. Lowe's Companies's payout ratio is presently 39.77%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LOW. Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. DA Davidson reduced their price target on shares of Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. JPMorgan Chase & Co. reduced their price target on shares of Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus cut their price objective on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. Finally, Robert W. Baird cut their price objective on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Lowe's Companies currently has a consensus rating of "Moderate Buy" and an average target price of $270.68.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the transaction, the executive vice president directly owned 31,898 shares of the company's stock, valued at approximately $7,256,795. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.27% of the company's stock.

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.