Peapack Gladstone Financial Corp Trims Stake in Lowe’s Companies, Inc. (LOW)

Peapack Gladstone Financial Corp trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 148,508 shares of the home improvement retailer’s stock after selling 1,433 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Lowe’s Companies were worth $11,514,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of LOW. SRS Capital Advisors Inc. raised its stake in Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after buying an additional 5 shares during the last quarter. Guardian Life Insurance Co. of America increased its holdings in shares of Lowe’s Companies by 0.4% in the first quarter. Guardian Life Insurance Co. of America now owns 3,346 shares of the home improvement retailer’s stock valued at $275,000 after purchasing an additional 13 shares during the period. Winfield Associates Inc. increased its holdings in shares of Lowe’s Companies by 0.6% in the first quarter. Winfield Associates Inc. now owns 2,392 shares of the home improvement retailer’s stock valued at $196,000 after purchasing an additional 15 shares during the period. Modera Wealth Management LLC increased its holdings in shares of Lowe’s Companies by 0.3% in the first quarter. Modera Wealth Management LLC now owns 4,927 shares of the home improvement retailer’s stock valued at $405,000 after purchasing an additional 15 shares during the period. Finally, Alps Advisors Inc. increased its holdings in shares of Lowe’s Companies by 0.3% in the second quarter. Alps Advisors Inc. now owns 5,844 shares of the home improvement retailer’s stock valued at $453,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 73.29% of the company’s stock.

A number of research analysts have recently weighed in on LOW shares. Zacks Investment Research raised Lowe’s Companies from a “sell” rating to a “hold” rating in a report on Monday, September 11th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $83.00 target price (down from $89.00) on shares of Lowe’s Companies in a report on Thursday, August 24th. BMO Capital Markets reaffirmed a “hold” rating and set a $82.00 target price on shares of Lowe’s Companies in a report on Thursday, November 2nd. Raymond James Financial raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and set a $87.00 target price on the stock in a report on Monday, November 27th. Finally, Longbow Research reaffirmed a “buy” rating and set a $95.00 target price on shares of Lowe’s Companies in a report on Monday, August 14th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have assigned a buy rating to the company. Lowe’s Companies currently has an average rating of “Hold” and a consensus target price of $87.40.

Shares of Lowe’s Companies, Inc. (NYSE LOW) traded down $3.91 during midday trading on Wednesday, hitting $82.40. The stock had a trading volume of 12,289,412 shares, compared to its average volume of 5,950,528. Lowe’s Companies, Inc. has a twelve month low of $70.49 and a twelve month high of $88.55. The company has a debt-to-equity ratio of 2.71, a current ratio of 1.02 and a quick ratio of 0.12. The firm has a market capitalization of $73,161.24, a PE ratio of 19.52, a PEG ratio of 1.41 and a beta of 1.15.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.03. Lowe’s Companies had a return on equity of 66.27% and a net margin of 5.16%. The business had revenue of $16.77 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The company’s revenue was up 6.6% on a year-over-year basis. analysts expect that Lowe’s Companies, Inc. will post 4.51 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be paid a dividend of $0.41 per share. The ex-dividend date is Tuesday, January 23rd. This represents a $1.64 annualized dividend and a yield of 1.99%. Lowe’s Companies’s payout ratio is 39.33%.

In related news, insider Paul D. Ramsay sold 2,098 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total transaction of $163,685.96. Following the completion of the transaction, the insider now directly owns 8,400 shares of the company’s stock, valued at approximately $655,368. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nelson B. Peace sold 3,352 shares of Lowe’s Companies stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $80.20, for a total value of $268,830.40. Following the sale, the insider now directly owns 4,650 shares of the company’s stock, valued at $372,930. The disclosure for this sale can be found here. Insiders have sold a total of 13,303 shares of company stock valued at $1,047,406 over the last three months. 0.11% of the stock is currently owned by insiders.

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About Lowe’s Companies

Lowe’s Companies, Inc (Lowe’s) is a 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.

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

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