Gateway Investment Advisers LLC Has $53.26 Million Position in Lowe’s Companies, Inc. (LOW)
Gateway Investment Advisers LLC reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 686,978 shares of the home improvement retailer’s stock after selling 6,272 shares during the period. Gateway Investment Advisers LLC owned 0.08% of Lowe’s Companies worth $53,261,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Lowe’s Companies by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock worth $5,250,843,000 after purchasing an additional 2,650,045 shares during the last quarter. Blue Edge Capital LLC bought a new position in Lowe’s Companies during the 1st quarter worth $727,000. Dimensional Fund Advisors LP raised its position in Lowe’s Companies by 2.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,425,597 shares of the home improvement retailer’s stock worth $199,407,000 after purchasing an additional 60,109 shares during the last quarter. KCG Holdings Inc. raised its position in Lowe’s Companies by 170.7% during the 1st quarter. KCG Holdings Inc. now owns 69,485 shares of the home improvement retailer’s stock worth $5,712,000 after purchasing an additional 43,815 shares during the last quarter. Finally, Heritage Trust Co bought a new position in Lowe’s Companies during the 1st quarter worth $789,000. 74.20% of the stock is owned by institutional investors and hedge funds.
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A number of analysts have weighed in on LOW shares. Zacks Investment Research upgraded Lowe’s Companies from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Bank of America Corporation started coverage on Lowe’s Companies in a report on Tuesday, September 5th. They set a “buy” rating and a $95.00 price target for the company. J P Morgan Chase & Co reiterated a “neutral” rating and set a $83.00 price target (down from $89.00) on shares of Lowe’s Companies in a report on Thursday, August 24th. Jefferies Group LLC reiterated a “hold” rating and set a $75.00 price target (down from $89.00) on shares of Lowe’s Companies in a report on Thursday, August 24th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $80.00 price target (down from $83.00) on shares of Lowe’s Companies in a report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company. Lowe’s Companies presently has a consensus rating of “Hold” and an average price target of $85.00.
Lowe’s Companies, Inc. (LOW) traded down 0.24% during trading on Tuesday, reaching $77.48. The company’s stock had a trading volume of 3,364,999 shares. The company has a 50-day moving average of $76.24 and a 200 day moving average of $79.62. The firm has a market cap of $64.53 billion, a PE ratio of 22.00 and a beta of 1.07. Lowe’s Companies, Inc. has a one year low of $64.87 and a one year high of $86.25. Lowe’s Companies also was the target of unusually large options trading activity on Monday. Investors acquired 6,466 put options on the company. This represents an increase of approximately 538% compared to the typical daily volume of 1,014 put options.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.05). The business had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.58 billion. Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. Lowe’s Companies’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.37 EPS. Analysts expect that Lowe’s Companies, Inc. will post $4.50 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 46.20%.
Lowe’s Companies Profile
Lowe’s Companies, Inc (Lowe’s) is a FORTUNE home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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