BrightView Holdings, Inc. $BV Shares Sold by Charles Schwab Investment Management Inc.

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. trimmed its position in BrightView Holdings, Inc. (NYSE:BV - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. First Trust Advisors LP acquired a new position in shares of BrightView in the 4th quarter valued at $3,388,000. Deutsche Bank AG increased its position in shares of BrightView by 71.1% in the 4th quarter. Deutsche Bank AG now owns 45,086 shares of the company's stock valued at $721,000 after acquiring an additional 18,742 shares during the period. MetLife Investment Management LLC increased its position in shares of BrightView by 6.9% in the 4th quarter. MetLife Investment Management LLC now owns 35,505 shares of the company's stock valued at $568,000 after acquiring an additional 2,277 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of BrightView by 23.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,583 shares of the company's stock valued at $2,280,000 after acquiring an additional 27,148 shares during the period. Finally, Principal Financial Group Inc. grew its position in BrightView by 3.2% during the 1st quarter. Principal Financial Group Inc. now owns 51,967 shares of the company's stock worth $667,000 after purchasing an additional 1,608 shares during the period. 92.41% of the stock is owned by institutional investors and hedge funds.

BrightView Trading Down 1.8%

Shares of BrightView stock opened at $14.6180 on Tuesday. The firm has a market capitalization of $1.39 billion, a PE ratio of 487.27 and a beta of 1.26. BrightView Holdings, Inc. has a twelve month low of $11.81 and a twelve month high of $18.89. The firm's 50-day moving average price is $15.58 and its 200 day moving average price is $14.68. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.62.

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

Insiders Place Their Bets

In other BrightView news, major shareholder Kkr Group Partnership L.P. sold 11,600,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $14.40, for a total value of $167,040,000.00. Following the transaction, the insider directly owned 21,533,123 shares of the company's stock, valued at $310,076,971.20. This trade represents a 35.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.20% of the company's stock.

Analyst Upgrades and Downgrades

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

About BrightView

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.

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