Robeco Institutional Asset Management B.V. Grows Stock Holdings in HP Inc. (NYSE:HPQ)

Robeco Institutional Asset Management B.V. raised its position in shares of HP Inc. (NYSE:HPQ) by 3.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,382,919 shares of the computer maker’s stock after buying an additional 74,396 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in HP were worth $85,475,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Triad Wealth Partners LLC acquired a new stake in HP in the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of HP during the second quarter worth about $34,000. Wolff Wiese Magana LLC increased its position in shares of HP by 115.1% during the third quarter. Wolff Wiese Magana LLC now owns 968 shares of the computer maker’s stock worth $35,000 after purchasing an additional 518 shares in the last quarter. ORG Wealth Partners LLC acquired a new stake in shares of HP during the third quarter worth about $37,000. Finally, DecisionPoint Financial LLC acquired a new stake in shares of HP during the second quarter worth about $43,000. 77.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Enrique Lores sold 211,501 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $33.16, for a total value of $7,013,373.16. Following the sale, the chief executive officer now owns 3 shares in the company, valued at $99.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.41% of the company’s stock.

HP Trading Down 0.8 %

NYSE HPQ opened at $35.99 on Tuesday. The stock has a market capitalization of $34.68 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 2.59 and a beta of 1.07. The business’s 50 day moving average is $35.66 and its two-hundred day moving average is $34.51. HP Inc. has a 12-month low of $27.01 and a 12-month high of $39.52.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 28th. The computer maker reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.03). The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.37 billion. HP had a negative return on equity of 266.37% and a net margin of 5.33%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. Equities analysts forecast that HP Inc. will post 3.39 earnings per share for the current fiscal year.

HP announced that its board has initiated a share repurchase plan on Wednesday, August 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the computer maker to reacquire up to 28.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barclays lowered their price target on HP from $33.00 to $32.00 and set an “equal weight” rating on the stock in a report on Thursday, August 29th. Bank of America lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Friday, September 27th. Citigroup lowered HP from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Tuesday, October 1st. JPMorgan Chase & Co. raised their price target on HP from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, UBS Group raised their price target on HP from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $35.55.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.