3,921,036 Shares in Bristow Group Inc. $VTOL Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 3.92 million Bristow Group shares worth approximately $162 million, giving it a 13.24% stake. Institutional investors collectively own 93.29% of VTOL.
• Bristow reported quarterly EPS of $0.70, below the $0.89 consensus estimate, while revenue of $411.75 million exceeded expectations. The stock recently traded at $43.63, down 4.9%.
• The company paid a quarterly dividend of $0.125, equivalent to $0.50 annually and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus with a $60 price target.

BlackRock Inc. bought a new position in Bristow Group Inc. (NYSE:VTOL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,921,036 shares of the company's stock, valued at approximately $162,017,000. BlackRock Inc. owned about 13.24% of Bristow Group as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the business. AQR Capital Management LLC bought a new stake in shares of Bristow Group during the first quarter worth $1,119,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Bristow Group by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,592 shares of the company's stock valued at $461,000 after acquiring an additional 609 shares during the period. Jane Street Group LLC boosted its position in shares of Bristow Group by 178.7% during the first quarter. Jane Street Group LLC now owns 53,526 shares of the company's stock worth $1,690,000 after purchasing an additional 34,317 shares in the last quarter. Strs Ohio acquired a new position in Bristow Group in the first quarter valued at about $44,000. Finally, Creative Planning acquired a new position in shares of Bristow Group in the 2nd quarter valued at approximately $236,000. 93.29% of the stock is currently owned by institutional investors.

Bristow Group Trading Down 4.9%

VTOL stock opened at $43.63 on Friday. Bristow Group Inc. has a one year low of $35.03 and a one year high of $50.38. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 12.57 and a beta of 1.22. The company has a fifty day moving average price of $44.38 and a two-hundred day moving average price of $44.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.26 and a quick ratio of 1.85.

Bristow Group (NYSE:VTOL - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.19). The company had revenue of $411.75 million during the quarter, compared to the consensus estimate of $407.28 million. Bristow Group had a net margin of 6.66% and a return on equity of 9.82%. Equities analysts anticipate that Bristow Group Inc. will post 3.31 EPS for the current year.

Bristow Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 14th. Bristow Group's payout ratio is presently 14.41%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VTOL. Zacks Research raised Bristow Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Bristow Group in a research note on Friday, May 29th. Finally, Wall Street Zen cut Bristow Group from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Three research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Bristow Group has a consensus rating of "Moderate Buy" and a consensus target price of $60.00.

Insider Transactions at Bristow Group

In related news, COO Stuart Stavley sold 10,218 shares of the company's stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $46.20, for a total value of $472,071.60. Following the transaction, the chief operating officer directly owned 64,740 shares in the company, valued at approximately $2,990,988. This represents a 13.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Lorin L. Brass sold 1,890 shares of the firm's stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $46.56, for a total transaction of $87,998.40. Following the transaction, the director directly owned 18,873 shares in the company, valued at approximately $878,726.88. This represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 13,148 shares of company stock valued at $608,365. 12.80% of the stock is currently owned by company insiders.

Bristow Group Profile

Bristow Group Inc is a global provider of helicopter services to the offshore energy industry and search-and-rescue (SAR) operations worldwide. The company specializes in the safe and efficient transport of personnel, equipment and supplies to offshore oil and gas platforms, as well as emergency response and medevac services. Bristow's operations support exploration, production and decommissioning activities, helping energy companies maintain continuity of production in some of the world's most challenging environments.

The company maintains a diverse fleet of turbine-powered helicopters, including medium- and heavy-lift aircraft such as the Sikorsky S-92, Airbus H225 (formerly EC225) and Leonardo AW189.

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