Gateway Investment Advisers LLC Decreases Stake in Lowe’s Companies, Inc. (LOW)

Gateway Investment Advisers LLC lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 29.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 499,802 shares of the home improvement retailer’s stock after selling 206,006 shares during the period. Gateway Investment Advisers LLC owned 0.06% of Lowe’s Companies worth $54,713,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in LOW. CI Investments Inc. purchased a new stake in shares of Lowe’s Companies in the 3rd quarter worth approximately $59,775,000. LPL Financial LLC grew its stake in shares of Lowe’s Companies by 1.8% in the 3rd quarter. LPL Financial LLC now owns 186,003 shares of the home improvement retailer’s stock worth $21,357,000 after buying an additional 3,358 shares during the last quarter. Capital World Investors grew its stake in shares of Lowe’s Companies by 173.2% in the 3rd quarter. Capital World Investors now owns 694,037 shares of the home improvement retailer’s stock worth $79,689,000 after buying an additional 440,037 shares during the last quarter. Matarin Capital Management LLC purchased a new stake in shares of Lowe’s Companies in the 3rd quarter worth approximately $5,697,000. Finally, Pacer Advisors Inc. grew its stake in shares of Lowe’s Companies by 32.3% in the 3rd quarter. Pacer Advisors Inc. now owns 50,201 shares of the home improvement retailer’s stock worth $5,764,000 after buying an additional 12,243 shares during the last quarter. 75.65% of the stock is owned by hedge funds and other institutional investors.

Shares of LOW opened at $113.76 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.11 and a debt-to-equity ratio of 3.95. Lowe’s Companies, Inc. has a 12 month low of $81.16 and a 12 month high of $117.70. The firm has a market cap of $90.05 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 1.31 and a beta of 1.27.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, February 27th. The home improvement retailer reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Lowe’s Companies had a return on equity of 80.91% and a net margin of 3.24%. The business had revenue of $15.65 billion for the quarter, compared to the consensus estimate of $15.75 billion. During the same period last year, the business posted $0.74 EPS. The company’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 6.06 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Wednesday, April 24th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $1.92 annualized dividend and a yield of 1.69%. Lowe’s Companies’s dividend payout ratio is 37.35%.

LOW has been the topic of several recent research reports. Loop Capital downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, January 23rd. Wells Fargo & Co upped their price target on Lowe’s Companies from $110.00 to $120.00 in a research note on Thursday, February 28th. ValuEngine upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Monday, January 7th. Zacks Investment Research downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. Finally, Evercore ISI initiated coverage on Lowe’s Companies in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $120.00 price target on the stock. Eight analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Lowe’s Companies has a consensus rating of “Buy” and an average price target of $114.13.

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About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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

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