BHP Group Limited (NYSE:BHP) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lessened its stake in BHP Group Limited (NYSE:BHP - Free Report) by 29.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 675,695 shares of the mining company's stock after selling 286,332 shares during the quarter. Lord Abbett & CO. LLC's holdings in BHP Group were worth $41,967,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pinnacle West Asset Management Inc. raised its position in BHP Group by 2.6% during the second quarter. Pinnacle West Asset Management Inc. now owns 7,925 shares of the mining company's stock worth $452,000 after acquiring an additional 200 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of BHP Group by 4.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 5,101 shares of the mining company's stock worth $317,000 after purchasing an additional 203 shares in the last quarter. Huntington National Bank raised its position in shares of BHP Group by 17.5% during the 3rd quarter. Huntington National Bank now owns 1,365 shares of the mining company's stock worth $85,000 after purchasing an additional 203 shares during the last quarter. Moody Lynn & Lieberson LLC lifted its stake in BHP Group by 1.1% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 19,208 shares of the mining company's stock valued at $1,097,000 after buying an additional 208 shares in the last quarter. Finally, Altman Advisors Inc. grew its holdings in BHP Group by 1.0% during the 2nd quarter. Altman Advisors Inc. now owns 24,721 shares of the mining company's stock valued at $1,411,000 after buying an additional 242 shares during the last quarter. 3.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BHP shares. Argus raised shares of BHP Group to a "strong-buy" rating in a research note on Thursday, September 19th. Jefferies Financial Group lowered shares of BHP Group from a "buy" rating to a "hold" rating and decreased their target price for the stock from $72.00 to $68.00 in a research report on Friday, October 4th. Sanford C. Bernstein upgraded BHP Group from a "market perform" rating to an "outperform" rating in a report on Monday, September 16th. Finally, StockNews.com raised BHP Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, BHP Group currently has an average rating of "Moderate Buy" and an average target price of $68.00.

BHP Group Trading Down 1.5 %

BHP stock traded down $0.78 on Friday, hitting $51.67. 1,863,026 shares of the company were exchanged, compared to its average volume of 2,438,575. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.70 and a quick ratio of 1.29. The stock has a market capitalization of $131.02 billion, a price-to-earnings ratio of 11.18 and a beta of 0.95. BHP Group Limited has a twelve month low of $50.90 and a twelve month high of $69.11. The business's fifty day moving average is $54.80 and its two-hundred day moving average is $55.68.

BHP Group Profile

BHP Group Limited operates as a resources company in Australia, Europe, China, Japan, India, South Korea, the rest of Asia, North America, South America, and internationally. The company operates through Copper, Iron Ore, and Coal segments. It engages in the mining of copper, uranium, gold, zinc, lead, molybdenum, silver, iron ore, cobalt, and metallurgical and energy coal.