Prospera Private Wealth LLC Invests $41,000 in Valvoline Inc. (NYSE:VVV)

Prospera Private Wealth LLC acquired a new stake in shares of Valvoline Inc. (NYSE:VVV) in the third quarter, HoldingsChannel reports. The firm acquired 974 shares of the basic materials company’s stock, valued at approximately $41,000.

Other hedge funds have also recently made changes to their positions in the company. Congress Asset Management Co. boosted its position in Valvoline by 2.8% in the 3rd quarter. Congress Asset Management Co. now owns 3,656,672 shares of the basic materials company’s stock valued at $153,032,000 after buying an additional 100,305 shares during the period. Dimensional Fund Advisors LP grew its stake in Valvoline by 3.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,720,748 shares of the basic materials company’s stock worth $117,534,000 after purchasing an additional 94,673 shares in the last quarter. Sculptor Capital LP increased its holdings in Valvoline by 187.6% during the 2nd quarter. Sculptor Capital LP now owns 1,879,500 shares of the basic materials company’s stock worth $81,194,000 after purchasing an additional 1,226,000 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in Valvoline by 8.5% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,227,535 shares of the basic materials company’s stock valued at $51,371,000 after purchasing an additional 96,615 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Valvoline by 30.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 828,403 shares of the basic materials company’s stock worth $35,787,000 after buying an additional 191,504 shares during the period. 96.13% of the stock is currently owned by institutional investors.

Valvoline Stock Performance

Shares of VVV opened at $38.57 on Friday. Valvoline Inc. has a 12 month low of $33.86 and a 12 month high of $48.26. The stock has a fifty day moving average price of $41.33 and a 200-day moving average price of $41.91. The company has a current ratio of 0.72, a quick ratio of 0.62 and a debt-to-equity ratio of 5.77. The firm has a market cap of $4.97 billion, a PE ratio of 23.81 and a beta of 1.46.

Valvoline announced that its Board of Directors has authorized a share buyback program on Tuesday, July 30th that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the basic materials company to reacquire up to 7.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently weighed in on VVV shares. Wells Fargo & Company lowered their price objective on shares of Valvoline from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday. Mizuho dropped their price objective on shares of Valvoline from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday. Royal Bank of Canada cut their price objective on shares of Valvoline from $52.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday. Stephens began coverage on Valvoline in a report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 target price for the company. Finally, Baird R W upgraded Valvoline to a “strong-buy” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $46.25.

Valvoline Company Profile

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.