Boyd Group Services Inc. $BGSI Shares Bought by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its stake in Boyd Group Services by 5.7% in the first quarter, bringing its holdings to 413,018 shares valued at about $52.7 million.
• Boyd Group Services reported quarterly EPS of $0.58, topping analyst expectations of $0.56, while analysts currently have a mixed view with an average Hold rating and a $157 target price.
• The company declared a quarterly dividend of $0.156 per share, equal to an annualized yield of about 0.6%, payable on July 29 to shareholders of record on June 30.

Principal Financial Group Inc. grew its holdings in Boyd Group Services Inc. (NYSE:BGSI - Free Report) by 5.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 413,018 shares of the company's stock after acquiring an additional 22,448 shares during the period. Principal Financial Group Inc. owned about 1.48% of Boyd Group Services worth $52,654,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Louisbourg Investments Inc. purchased a new stake in Boyd Group Services during the 4th quarter worth $7,272,000. Cidel Asset Management Inc. acquired a new position in shares of Boyd Group Services during the fourth quarter worth about $9,046,000. Addenda Capital Inc. purchased a new stake in shares of Boyd Group Services in the fourth quarter worth about $10,843,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Boyd Group Services in the fourth quarter worth about $29,216,000. Finally, Assetmark Inc. purchased a new stake in shares of Boyd Group Services in the fourth quarter worth about $59,000. Institutional investors and hedge funds own 0.17% of the company's stock.

Boyd Group Services Stock Performance

Shares of NYSE BGSI opened at $104.03 on Friday. Boyd Group Services Inc. has a 1 year low of $88.97 and a 1 year high of $183.10. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 157.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.46 and a current ratio of 0.60. The stock's 50-day simple moving average is $100.16.

Boyd Group Services (NYSE:BGSI - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. Boyd Group Services had a return on equity of 4.90% and a net margin of 0.39%. As a group, research analysts predict that Boyd Group Services Inc. will post 3.85 EPS for the current year.

Boyd Group Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Tuesday, June 30th will be given a $0.156 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, June 30th. Boyd Group Services's dividend payout ratio is presently 66.67%.

Analysts Set New Price Targets

Several brokerages recently commented on BGSI. Stephens dropped their target price on Boyd Group Services from $200.00 to $157.00 and set an "overweight" rating on the stock in a report on Tuesday, April 14th. Wall Street Zen cut Boyd Group Services from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Zacks Research lowered shares of Boyd Group Services from a "hold" rating to a "strong sell" rating in a research note on Monday, June 29th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Boyd Group Services in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $157.00.

Boyd Group Services Company Profile

Boyd Group Services Inc is a North American operator of collision repair centers that provides vehicle repair, paint and refinishing, and auto glass replacement services. Its locations perform mechanical and cosmetic collision repairs, parts sourcing, and related warranty work, serving retail customers as well as business clients such as insurers and fleet operators. The company’s operations typically include estimating, repair planning, paint and body work, and post-repair quality assurance and customer service.

Headquartered in Winnipeg, Manitoba, Canada, Boyd Group Services operates across both Canada and the United States through a network of company-owned collision repair facilities under various local and regional brand names.

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