Gateway Investment Advisers LLC Has $54.61 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Gateway Investment Advisers LLC decreased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 6.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 214,379 shares of the home improvement retailer’s stock after selling 15,271 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Lowe’s Companies were worth $54,609,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Private Management Group Inc. lifted its holdings in shares of Lowe’s Companies by 4.0% during the 4th quarter. Private Management Group Inc. now owns 1,205 shares of the home improvement retailer’s stock worth $268,000 after acquiring an additional 46 shares during the period. First Command Advisory Services Inc. grew its holdings in shares of Lowe’s Companies by 1.9% during the 4th quarter. First Command Advisory Services Inc. now owns 2,590 shares of the home improvement retailer’s stock valued at $576,000 after purchasing an additional 48 shares during the last quarter. Jag Capital Management LLC increased its position in Lowe’s Companies by 0.3% during the 4th quarter. Jag Capital Management LLC now owns 15,772 shares of the home improvement retailer’s stock worth $3,510,000 after purchasing an additional 48 shares in the last quarter. Hamilton Capital LLC increased its position in Lowe’s Companies by 2.1% during the 3rd quarter. Hamilton Capital LLC now owns 2,439 shares of the home improvement retailer’s stock worth $507,000 after purchasing an additional 49 shares in the last quarter. Finally, Abundance Wealth Counselors lifted its stake in Lowe’s Companies by 0.8% in the 4th quarter. Abundance Wealth Counselors now owns 6,671 shares of the home improvement retailer’s stock valued at $1,485,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LOW. StockNews.com downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Evercore ISI lowered their price objective on Lowe’s Companies from $255.00 to $250.00 and set an “in-line” rating for the company in a research note on Wednesday, May 22nd. Telsey Advisory Group restated a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research report on Tuesday, May 21st. JPMorgan Chase & Co. boosted their price objective on shares of Lowe’s Companies from $265.00 to $268.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 28th. Finally, Wedbush reissued a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and an average target price of $251.33.

Check Out Our Latest Stock Report on LOW

Lowe’s Companies Stock Down 4.1 %

Shares of NYSE LOW traded down $9.47 during trading hours on Tuesday, reaching $218.92. 915,463 shares of the stock traded hands, compared to its average volume of 2,445,490. The company’s 50-day simple moving average is $226.11 and its two-hundred day simple moving average is $228.22. The company has a market capitalization of $124.75 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.75 and a beta of 1.08. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOWGet Free Report) last posted its quarterly earnings results on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.94 by $0.12. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the previous year, the firm posted $3.67 earnings per share. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $0.60 annualized dividend and a dividend yield of 0.27%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Lowe’s Companies Company 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.

Recommended Stories

Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Companies, Inc. (NYSE:LOWFree Report).

Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.