Bank of New York Mellon Corp Takes $7.46 Million Position in Bristow Group Inc. $VTOL

Key Points

• Bank of New York Mellon established a new 180,615-share position in Bristow Group valued at approximately $7.46 million, while institutional investors collectively own 93.29% of the company.
• Analyst sentiment remains generally positive, with three Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $60.00.
• Bristow reported quarterly EPS of $0.70, below the $0.89 consensus estimate, though revenue of $411.75 million exceeded expectations. The company also pays a quarterly dividend of $0.125, equivalent to a 1.1% annual yield.

Bank of New York Mellon Corp purchased a new position in shares of Bristow Group Inc. (NYSE:VTOL - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 180,615 shares of the company's stock, valued at approximately $7,463,000. Bank of New York Mellon Corp owned 0.61% of Bristow Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Encompass Capital Advisors LLC purchased a new stake in shares of Bristow Group in the 4th quarter valued at approximately $25,613,000. Fearnley Asset Management AS acquired a new position in Bristow Group during the 4th quarter worth about $16,942,000. Boston Partners purchased a new position in Bristow Group during the 4th quarter valued at about $13,486,000. Lee Danner & Bass Inc. purchased a new position in Bristow Group during the 1st quarter valued at about $6,611,000. Finally, Arrowstreet Capital Limited Partnership grew its position in Bristow Group by 176.8% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 210,768 shares of the company's stock valued at $7,605,000 after acquiring an additional 134,616 shares in the last quarter. 93.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at Bristow Group

In other Bristow Group news, insider Alternative Asset Manage Solus sold 12,045 shares of the company's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $45.68, for a total value of $550,215.60. Following the completion of the transaction, the insider owned 2,849,751 shares in the company, valued at $130,176,625.68. This represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Stuart Stavley sold 10,218 shares of the firm's stock in a transaction dated Thursday, August 20th. The stock was 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. The trade was a 13.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 40,584 shares of company stock valued at $1,864,317 over the last ninety days. Insiders own 12.80% of the company's stock.

Bristow Group Price Performance

Bristow Group stock opened at $43.80 on Friday. The company has a current ratio of 2.26, a quick ratio of 1.85 and a debt-to-equity ratio of 0.66. The company has a fifty day simple moving average of $44.63 and a 200-day simple moving average of $44.86. The stock has a market cap of $1.30 billion, a P/E ratio of 12.62 and a beta of 1.19. Bristow Group Inc. has a 12-month low of $35.03 and a 12-month high of $50.38.

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

Bristow Group Dividend Announcement

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

About Bristow Group

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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