Bank of New York Mellon Corp Makes New $3.95 Million Investment in BrightView Holdings, Inc. $BV

Key Points

• Bank of New York Mellon acquired 278,866 BrightView shares worth approximately $3.95 million, while institutional investors collectively own 92.41% of the company.
• BrightView’s latest quarterly results missed expectations, with earnings per share of $0.17 versus a $0.29 consensus estimate and revenue of $717.6 million versus $726.13 million expected.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $14.10, compared with the stock’s reported opening price of $11.35.

Bank of New York Mellon Corp purchased a new stake in BrightView Holdings, Inc. (NYSE:BV - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 278,866 shares of the company's stock, valued at approximately $3,952,000. Bank of New York Mellon Corp owned 0.30% of BrightView at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of BV. Private Management Group Inc. acquired a new stake in BrightView in the 4th quarter valued at approximately $7,468,000. Two Sigma Investments LP lifted its stake in BrightView by 1,964.7% in the 3rd quarter. Two Sigma Investments LP now owns 568,466 shares of the company's stock valued at $7,617,000 after acquiring an additional 540,933 shares in the last quarter. Millennium Management LLC boosted its position in BrightView by 54.2% during the 1st quarter. Millennium Management LLC now owns 1,456,682 shares of the company's stock worth $18,704,000 after acquiring an additional 512,098 shares during the last quarter. Pillsbury Lake Capital LLC acquired a new position in BrightView during the 4th quarter worth approximately $6,208,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of BrightView by 106.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 872,968 shares of the company's stock worth $11,061,000 after acquiring an additional 450,831 shares in the last quarter. 92.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BV. Zacks Research lowered shares of BrightView from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 14th. Morgan Stanley lowered their price target on shares of 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 price target on shares of BrightView in a research report on Wednesday, August 5th. Weiss Ratings restated a "sell (d+)" rating on shares of BrightView in a research note on Friday, July 31st. Finally, BTIG Research restated a "buy" rating and issued a $16.00 price objective on shares of BrightView in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $14.10.

BrightView Trading Up 0.2%

Shares of BrightView stock opened at $11.35 on Friday. The stock has a market cap of $1.06 billion, a P/E ratio of -45.40, a P/E/G ratio of 1.88 and a beta of 1.17. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.71. BrightView Holdings, Inc. has a 12-month low of $10.42 and a 12-month high of $15.00. The business's 50 day moving average is $12.80 and its 200-day moving average is $12.65.

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

Insider Buying and Selling at BrightView

In other news, Director William Cornog acquired 50,000 shares of the stock in a transaction dated Thursday, August 6th. The shares were bought at an average cost of $11.25 per share, for a total transaction of $562,500.00. Following the purchase, the director directly owned 70,000 shares of the company's stock, valued at approximately $787,500. This trade represents a 250.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.80% of the stock is owned by corporate insiders.

BrightView Company Profile

BrightView Inc NYSE: BV is a leading commercial landscaping services company in the United States, offering a comprehensive suite of outdoor asset management solutions. The company's core business activities include landscape maintenance, development and enhancement services tailored to a wide array of clients such as corporate campuses, healthcare facilities, multi-family residential properties, retail centers and municipalities.

BrightView's service portfolio covers routine grounds maintenance, landscape construction and design-build, irrigation system installation and management, tree care, seasonal color programs and snow and ice management.

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