Bank of America Corp DE Acquires New Stake in BrightView Holdings, Inc. $BV

Key Points

• Bank of America acquired 159,739 BrightView shares worth approximately $2.26 million, while institutional investors collectively own 92.41% of the company.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $14.10; targets range from $12.50 to $17.00.
• BrightView’s latest quarterly results missed expectations, reporting $0.17 EPS versus $0.29 expected and revenue of $717.6 million versus $726.13 million projected. The stock opened at $10.03, near its 12-month low of $9.81.

Bank of America Corp DE bought a new stake in BrightView Holdings, Inc. (NYSE:BV - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 159,739 shares of the company's stock, valued at approximately $2,264,000. Bank of America Corp DE owned approximately 0.17% of BrightView as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of BrightView in the second quarter worth $80,091,000. Dimensional Fund Advisors LP increased its position in shares of BrightView by 3.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,268,756 shares of the company's stock worth $62,118,000 after purchasing an additional 192,376 shares during the last quarter. Van Berkom & Associates Inc. raised its stake in shares of BrightView by 3.7% in the 1st quarter. Van Berkom & Associates Inc. now owns 5,038,617 shares of the company's stock valued at $59,405,000 after purchasing an additional 179,757 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of BrightView by 5.6% during the first quarter. Bessemer Group Inc. now owns 1,879,712 shares of the company's stock worth $22,162,000 after purchasing an additional 99,103 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. grew its stake in BrightView by 2.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,116,831 shares of the company's stock worth $13,167,000 after purchasing an additional 22,362 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company's stock.

Analyst Ratings Changes

BV has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of BrightView in a report on Friday, July 31st. Morgan Stanley reduced their price objective on BrightView from $14.00 to $12.50 and set an "equal weight" rating on the stock in a research note on Thursday, August 6th. Robert W. Baird set a $14.00 target price on shares of BrightView in a research note on Wednesday, August 5th. Zacks Research downgraded shares of BrightView from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 14th. Finally, Oppenheimer began coverage on shares of BrightView in a research report on Wednesday, June 17th. They set an "outperform" rating and a $17.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $14.10.

Insider Transactions at BrightView

In other BrightView news, Director William Cornog purchased 50,000 shares of the company's stock in a transaction on Thursday, August 6th. The shares were purchased at an average cost of $11.25 per share, for a total transaction of $562,500.00. Following the completion of the transaction, the director owned 70,000 shares in the company, valued at $787,500. The trade was a 250.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.80% of the company's stock.

BrightView Stock Down 0.3%

BV opened at $10.03 on Thursday. The stock's 50 day moving average price is $11.49 and its 200 day moving average price is $12.32. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market cap of $934.98 million, a P/E ratio of -40.13, a P/E/G ratio of 1.67 and a beta of 1.17. BrightView Holdings, Inc. has a 12 month low of $9.81 and a 12 month high of $15.00.

BrightView (NYSE:BV - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.12). The business had revenue of $717.60 million during the quarter, compared to the consensus estimate of $726.13 million. BrightView had a return on equity of 5.03% and a net margin of 0.74%.The company's revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 EPS. As a group, research analysts predict that BrightView Holdings, Inc. will post 0.4 earnings per share for the current year.

BrightView Company Profile

BrightView Holdings, Inc provides commercial landscaping services in the United States. The company serves businesses, municipalities, educational institutions, healthcare facilities, homeowners' associations, sports and entertainment venues, and other organizations that require landscape management and related outdoor services.

Its services include landscape maintenance, landscape design and development, irrigation installation and management, tree care, water management, and snow and ice removal.

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