Charles Schwab Investment Management Inc. Has $7.97 Million Stake in BrightView Holdings, Inc. $BV

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in BrightView Holdings by 8.2% during the first quarter, now holding 620,422 shares valued at approximately $7.97 million.
• BrightView reported a quarterly earnings miss with $0.30 EPS, falling short of analysts' expectations of $0.32, and revenue declined 4.1% year-over-year.
• Major shareholder Kkr Group Partnership L.P. sold 11.6 million shares for about $167 million, resulting in a 35% decrease in their ownership.

Charles Schwab Investment Management Inc. cut its position in shares of BrightView Holdings, Inc. (NYSE:BV - Free Report) by 8.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 620,422 shares of the company's stock after selling 55,679 shares during the period. Charles Schwab Investment Management Inc. owned 0.65% of BrightView worth $7,966,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BV. Wells Fargo & Company MN raised its stake in shares of BrightView by 15.9% in the 4th quarter. Wells Fargo & Company MN now owns 40,636 shares of the company's stock valued at $650,000 after acquiring an additional 5,566 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of BrightView by 5.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 23,937 shares of the company's stock valued at $383,000 after acquiring an additional 1,240 shares in the last quarter. Invesco Ltd. raised its stake in shares of BrightView by 1.0% in the 4th quarter. Invesco Ltd. now owns 248,574 shares of the company's stock valued at $3,975,000 after acquiring an additional 2,485 shares in the last quarter. Barclays PLC raised its stake in shares of BrightView by 7.9% in the 4th quarter. Barclays PLC now owns 120,836 shares of the company's stock valued at $1,933,000 after acquiring an additional 8,867 shares in the last quarter. Finally, NewEdge Advisors LLC bought a new position in shares of BrightView in the 4th quarter valued at approximately $56,000. 92.41% of the stock is owned by institutional investors.

BrightView Stock Performance

NYSE BV traded down $0.19 during trading on Friday, hitting $14.37. The company's stock had a trading volume of 722,249 shares, compared to its average volume of 977,464. BrightView Holdings, Inc. has a 52 week low of $11.81 and a 52 week high of $18.89. The firm has a market cap of $1.36 billion, a P/E ratio of 478.83 and a beta of 1.29. The firm has a 50 day moving average price of $15.50 and a 200 day moving average price of $14.68. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.62.

BrightView (NYSE:BV - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.02). BrightView had a return on equity of 8.76% and a net margin of 2.00%.The firm had revenue of $708.30 million for the quarter, compared to analyst estimates of $763.43 million. During the same period in the previous year, the business posted $0.32 EPS. BrightView's revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts forecast that BrightView Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BV shares. Loop Capital cut their price objective on BrightView from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, July 3rd. Robert W. Baird cut their price objective on BrightView from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 2nd. Finally, Wall Street Zen downgraded BrightView from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $17.98.

Insider Activity at BrightView

In other news, EVP Amanda Marie Orders sold 70,000 shares of BrightView stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $14.78, for a total transaction of $1,034,600.00. Following the sale, the executive vice president owned 38,446 shares of the company's stock, valued at approximately $568,231.88. This trade represents a 64.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Kkr Group Partnership L.P. sold 11,600,000 shares of BrightView stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $14.40, for a total value of $167,040,000.00. Following the sale, the insider directly owned 21,533,123 shares in the company, valued at $310,076,971.20. The trade was a 35.01% decrease in their position. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

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.