American politician Alan Stuart Lowenthal, the U.S. representative for California’s 47th congressional district, is an active trader of U.S. stocks, with a major focus on the Industrial sector. His recent trading (buying and selling) activity shows that the Congressman sold these five stocks in November: The Blackstone Group Inc. (NYSE:BX), The TJX Companies (NYSE:TJX), T-Mobile US Inc. (NASDAQ:TMUS), The Sherwin-Williams Co. (NYSE:SHW), and Ecolab Inc. (NYSE:ECL). Let’s take a closer look at two companies he sold recently.
The TJX Companies (NYSE:TJX)
TJX is a leading off-price retailer of apparel and home fashion products. In its Q3FY23 results, TJX delivered mixed results, beating earnings but missing revenue expectations. Year to date, TJX stock has gained 8.5%.
Lowenthal sold two sets of TJX shares on November 4, one in the range of 1,000 to 5,000 shares and the other in the higher bracket of 15,000 to 50,000 shares. Unfortunately, post-November 4, TJX stock has gained another 13%.
Is TJX Stock a Good Buy?
With 12 Buys and three Hold ratings, TJX stock commands a Strong Buy consensus rating. On TipRanks, the average TJX Companies price target of $85.73 implies 6.5% upside potential to current levels.
The Blackstone Group (NYSE:BX)
Blackstone Group is one of the largest investment companies in the world, operating through Private Equity, Real Estate, Hedge Fund Solutions, and Credit & Insurance segments. Despite the subdued M&A and capital markets activity, Blackstone Group has been able to consistently outperform earnings expectations this year. BX stock has lost 26.9% so far this year.
Similar to TJX, Lowenthal sold two sets of Blackstone shares on November 14, both in the range of 1,000 to 15,000 shares. Luckily for Lowenthal, BX stock has lost 12.7% since he sold shares on November 14.
Is BX a Good Stock to Buy?
On TipRanks, BX stock has a Moderate Buy consensus rating based on ten Buys, three Holds, and one Sell rating. Also, the average Blackstone Group stock prediction of $106.50 implies 20.4% upside potential to current levels.
Representative Lowenthal has made profitable trades in the past, and investors may choose to follow his stock picks to make informed investment decisions. Although politicians’ trades are disclosed fairly late, tracking their trading activities may prove insightful for investors.