Lowe's Companies, Inc. (NYSE:LOW) Stake Reduced by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp reduced its stake in Lowe's Companies, Inc. by 3.7% during the first quarter, holding 55,984 shares valued at approximately $13.06 million at the end of the quarter.
• Lowe's reported a slight decline in revenue of 2.0% year-over-year, with $20.93 billion in revenue for the quarter, despite earnings per share of $2.92, surpassing analysts' consensus estimates.
• The company recently increased its quarterly dividend to $1.20 per share, boosting the annualized payout to $4.80 with a dividend yield of 2.0%.

King Luther Capital Management Corp reduced its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,984 shares of the home improvement retailer's stock after selling 2,136 shares during the quarter. King Luther Capital Management Corp's holdings in Lowe's Companies were worth $13,057,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. American Alpha Advisors LLC bought a new position in shares of Lowe's Companies in the first quarter worth $408,000. Biltmore Family Office LLC grew its stake in shares of Lowe's Companies by 102.5% in the first quarter. Biltmore Family Office LLC now owns 3,358 shares of the home improvement retailer's stock worth $783,000 after purchasing an additional 1,700 shares in the last quarter. Invesco Ltd. grew its stake in shares of Lowe's Companies by 10.6% in the first quarter. Invesco Ltd. now owns 5,207,081 shares of the home improvement retailer's stock worth $1,214,448,000 after purchasing an additional 501,154 shares in the last quarter. Fiduciary Family Office LLC bought a new position in shares of Lowe's Companies in the first quarter worth $651,000. Finally, Taylor Financial Group Inc. grew its stake in shares of Lowe's Companies by 98.8% in the first quarter. Taylor Financial Group Inc. now owns 8,032 shares of the home improvement retailer's stock worth $1,873,000 after purchasing an additional 3,992 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe's Companies Price Performance

LOW opened at $241.37 on Monday. Lowe's Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $287.01. The business has a 50-day moving average of $224.39 and a 200-day moving average of $230.57. The company has a market capitalization of $135.27 billion, a PE ratio of 20.00, a price-to-earnings-growth ratio of 2.28 and a beta of 0.89.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same period last year, the business earned $3.06 EPS. The business's quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research 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 company also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd were paid a dividend of $1.20 per share. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. Lowe's Companies's dividend payout ratio (DPR) is 39.77%.

Insider Buying and Selling at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total value 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. This trade represents a 3.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

LOW has been the subject of several recent analyst reports. Royal Bank Of Canada decreased their price target on Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating for the company in a research note on Thursday, May 22nd. Guggenheim reissued a "buy" rating and issued a $300.00 price target on shares of Lowe's Companies in a research note on Tuesday, July 22nd. Wells Fargo & Company decreased their price target on Lowe's Companies from $285.00 to $260.00 and set an "overweight" rating for the company in a research note on Thursday, May 8th. Wall Street Zen raised Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. Finally, DA Davidson decreased their target price on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Lowe's Companies has an average rating of "Moderate Buy" and a consensus target price of $270.68.

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.

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