Allianz Asset Management GmbH Makes New $517,000 Investment in BrightView Holdings, Inc. (NYSE:BV)

Key Points

• Allianz Asset Management GmbH has acquired 40,300 shares of BrightView Holdings, Inc. for approximately $517,000, marking a significant investment in the company during the first quarter.
• Major shareholder Kkr Group Partnership L.P. sold 11.6 million shares at an average price of $14.40, resulting in a 35.01% decrease in their position, while retaining over 21 million shares valued at around $310 million.
• Analysts have varied views on BrightView, with target prices recently lowered by some analysts, reflecting a consensus rating of "Moderate Buy" and a target price of $17.82.

Allianz Asset Management GmbH bought a new position in shares of BrightView Holdings, Inc. (NYSE:BV - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 40,300 shares of the company's stock, valued at approximately $517,000.

Several other institutional investors have also modified their holdings of BV. American Century Companies Inc. lifted its stake in BrightView by 14.7% in the 4th quarter. American Century Companies Inc. now owns 116,231 shares of the company's stock valued at $1,859,000 after buying an additional 14,915 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in BrightView in the 4th quarter valued at approximately $179,000. Vanguard Group Inc. lifted its stake in BrightView by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 5,830,873 shares of the company's stock valued at $93,236,000 after buying an additional 59,857 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in BrightView by 263.6% in the 4th quarter. JPMorgan Chase & Co. now owns 161,056 shares of the company's stock valued at $2,575,000 after buying an additional 116,758 shares in the last quarter. Finally, Trexquant Investment LP lifted its stake in BrightView by 38.8% in the 4th quarter. Trexquant Investment LP now owns 334,859 shares of the company's stock valued at $5,354,000 after buying an additional 93,551 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company's stock.

BrightView Stock Up 0.6%

Shares of BrightView stock traded up $0.09 during trading hours on Wednesday, hitting $16.21. 298,902 shares of the company's stock traded hands, compared to its average volume of 710,333. The stock has a 50 day simple moving average of $15.86 and a 200-day simple moving average of $14.76. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.63. The company has a market cap of $1.54 billion, a PE ratio of -810.34 and a beta of 1.26. BrightView Holdings, Inc. has a twelve month low of $11.81 and a twelve month high of $18.89.

BrightView (NYSE:BV - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $662.60 million during the quarter, compared to the consensus estimate of $643.29 million. BrightView had a return on equity of 8.29% and a net margin of 1.65%. The company's revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. Equities research analysts anticipate that BrightView Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at BrightView

In other news, major shareholder Kkr Group Partnership L.P. sold 11,600,000 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $14.40, for a total transaction of $167,040,000.00. Following the completion of the sale, the insider directly owned 21,533,123 shares in the company, valued at $310,076,971.20. This trade represents a 35.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BV. Robert W. Baird reduced their target price on BrightView from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 2nd. Wall Street Zen raised BrightView from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Finally, Loop Capital reduced their price target on BrightView from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, July 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, BrightView has a consensus rating of "Moderate Buy" and an average price target of $17.82.

BrightView Company Profile

BrightView Holdings, Inc, through its subsidiaries, provides commercial landscaping services in the United States. It operates through two segments, Maintenance Services and Development Services. The Maintenance Services segment delivers a suite of recurring commercial landscaping services, including mowing, gardening, mulching and snow removal, water management, irrigation maintenance, tree care, golf course maintenance, and specialty turf maintenance.