Harbour Investments Inc. Sells 1,542 Shares of Valvoline Inc. (NYSE:VVV)

Harbour Investments Inc. lowered its stake in shares of Valvoline Inc. (NYSE:VVV) by 12.8% during the third quarter, HoldingsChannel reports. The firm owned 10,466 shares of the basic materials company’s stock after selling 1,542 shares during the quarter. Harbour Investments Inc.’s holdings in Valvoline were worth $438,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its holdings in Valvoline by 6.7% during the first quarter. Russell Investments Group Ltd. now owns 69,300 shares of the basic materials company’s stock worth $3,089,000 after buying an additional 4,326 shares during the last quarter. US Bancorp DE lifted its stake in Valvoline by 13.2% in the 1st quarter. US Bancorp DE now owns 41,132 shares of the basic materials company’s stock valued at $1,833,000 after purchasing an additional 4,800 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Valvoline by 4.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 196,353 shares of the basic materials company’s stock valued at $8,751,000 after purchasing an additional 8,076 shares during the last quarter. Edgestream Partners L.P. bought a new position in Valvoline during the first quarter worth about $1,814,000. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Valvoline by 5.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 101,282 shares of the basic materials company’s stock worth $4,515,000 after purchasing an additional 5,002 shares during the period. Institutional investors own 96.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on VVV shares. Baird R W raised Valvoline to a “strong-buy” rating in a research report on Thursday, August 15th. Royal Bank of Canada reduced their price objective on shares of Valvoline from $54.00 to $48.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Wells Fargo & Company dropped their price objective on shares of Valvoline from $50.00 to $46.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Stephens initiated coverage on shares of Valvoline in a report on Tuesday, October 15th. They set an “overweight” rating and a $49.00 target price for the company. Finally, Robert W. Baird began coverage on shares of Valvoline in a report on Thursday, August 15th. They issued an “outperform” rating and a $48.00 price target on the stock. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.75.

Valvoline Stock Performance

Shares of NYSE:VVV opened at $42.32 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.73 and a debt-to-equity ratio of 10.57. Valvoline Inc. has a 12-month low of $33.86 and a 12-month high of $48.26. The company’s 50 day moving average price is $41.37 and its two-hundred day moving average price is $42.03. The firm has a market cap of $5.45 billion, a PE ratio of 34.41 and a beta of 1.46.

Valvoline declared that its Board of Directors has authorized a stock buyback plan on Tuesday, July 30th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Valvoline 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.