Peapack Gladstone Financial Corp Grows Stock Position in Lowe's Companies, Inc. (NYSE:LOW)

Peapack Gladstone Financial Corp lifted its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 153,134 shares of the home improvement retailer's stock after buying an additional 2,442 shares during the period. Peapack Gladstone Financial Corp's holdings in Lowe's Companies were worth $41,476,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC boosted its stake in Lowe's Companies by 10.2% in the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer's stock worth $7,045,006,000 after purchasing an additional 2,399,897 shares in the last quarter. State Street Corp boosted its stake in Lowe's Companies by 1.9% in the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer's stock worth $6,774,948,000 after purchasing an additional 460,851 shares in the last quarter. Geode Capital Management LLC boosted its stake in Lowe's Companies by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 11,733,461 shares of the home improvement retailer's stock worth $3,169,041,000 after purchasing an additional 187,473 shares in the last quarter. Legal & General Group Plc boosted its stake in Lowe's Companies by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer's stock worth $1,147,603,000 after purchasing an additional 82,978 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Lowe's Companies by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer's stock worth $912,508,000 after purchasing an additional 39,953 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Insider Transactions at Lowe's Companies

In other news, EVP Quonta D. Vance sold 7,198 shares of the firm's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the completion of the transaction, the executive vice president now directly owns 16,703 shares in the company, valued at $4,582,802.11. This trade represents a 30.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

LOW has been the subject of several research reports. Evercore ISI lifted their price objective on shares of Lowe's Companies from $270.00 to $290.00 and gave the company an "in-line" rating in a research note on Thursday. Gordon Haskett decreased their price objective on shares of Lowe's Companies from $245.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, August 21st. Bank of America lifted their target price on shares of Lowe's Companies from $275.00 to $305.00 and gave the company a "buy" rating in a report on Friday, October 11th. UBS Group lifted their target price on shares of Lowe's Companies from $270.00 to $290.00 and gave the company a "buy" rating in a report on Wednesday, August 21st. Finally, Stifel Nicolaus lifted their target price on shares of Lowe's Companies from $265.00 to $270.00 and gave the company a "hold" rating in a report on Wednesday. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $280.85.

Lowe's Companies Trading Down 0.4 %

NYSE:LOW traded down $1.11 during trading hours on Friday, hitting $262.39. The company had a trading volume of 1,927,147 shares, compared to its average volume of 2,441,636. The company has a market cap of $148.16 billion, a P/E ratio of 21.98, a P/E/G ratio of 2.25 and a beta of 1.09. Lowe's Companies, Inc. has a 1 year low of $209.55 and a 1 year high of $287.01. The company has a 50-day moving average of $270.80 and a 200 day moving average of $248.90.

About Lowe's Companies

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.