BrightView Holdings, Inc. $BV Shares Sold by Cooke & Bieler LP

Key Points

• Cooke & Bieler LP reduced its BrightView stake by 7.9% in the third quarter, selling 198,594 shares and retaining 2.31 million shares worth approximately $23.1 million. Institutional investors collectively own 92.41% of the company.
• BrightView’s latest quarterly results fell short of expectations, with earnings of $0.17 per share versus the $0.29 consensus estimate and revenue of $717.6 million versus $726.13 million expected. Revenue nevertheless increased 1.3% year over year.
• Analyst sentiment remains mixed: the stock carries a consensus “Hold” rating and a $13.93 target price, while Morgan Stanley cut its target to $11.50. Shares recently opened at $10.44, near the lower end of their 52-week range.

Cooke & Bieler LP cut its position in shares of BrightView Holdings, Inc. (NYSE:BV - Free Report) by 7.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,310,933 shares of the company's stock after selling 198,594 shares during the period. Cooke & Bieler LP owned 2.48% of BrightView worth $23,109,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new stake in shares of BrightView in the 2nd quarter valued at approximately $41,000. Janney Montgomery Scott LLC bought a new position in BrightView during the first quarter valued at approximately $145,000. Mcmorgan & Co. LLC bought a new position in BrightView during the second quarter valued at approximately $176,000. Sequoia Financial Advisors LLC bought a new position in BrightView during the second quarter valued at approximately $182,000. Finally, Amundi bought a new position in BrightView during the first quarter valued at approximately $234,000. 92.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director William Cornog bought 50,000 shares of BrightView stock in a transaction that occurred on Thursday, August 6th. The stock was purchased at an average cost of $11.25 per share, for a total transaction of $562,500.00. Following the acquisition, the director owned 70,000 shares in the company, valued at $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 SEC, which is accessible through the SEC website. Company insiders own 2.80% of the company's stock.

BrightView Price Performance

Shares of NYSE:BV opened at $10.44 on Thursday. The stock has a market capitalization of $973.38 million, a P/E ratio of -41.78, a P/E/G ratio of 1.35 and a beta of 1.20. The business has a 50-day moving average of $10.84 and a two-hundred day moving average of $12.18. BrightView Holdings, Inc. has a fifty-two week low of $9.81 and a fifty-two week high of $15.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.28 and a quick ratio of 1.28.

BrightView (NYSE:BV - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.29 by ($0.12). The company had revenue of $717.60 million for the quarter, compared to analyst estimates of $726.13 million. BrightView had a net margin of 0.74% and a return on equity of 5.03%. The business's revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 EPS. On average, equities research analysts predict that BrightView Holdings, Inc. will post 0.40 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BV has been the subject of a number of analyst reports. Morgan Stanley reduced their target price on shares of BrightView from $12.50 to $11.50 and set an "equal weight" rating for the company in a research note on Tuesday, October 13th. Wall Street Zen lowered shares of BrightView from a "hold" rating to a "sell" rating in a research note on Saturday, October 10th. Robert W. Baird set a $14.00 price target on shares of BrightView in a research note on Wednesday, August 5th. Zacks Research upgraded shares of BrightView from a "strong sell" rating to a "hold" rating in a report on Monday, October 5th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of BrightView in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, BrightView currently has a consensus rating of "Hold" and a consensus target price of $13.93.

BrightView Company Profile

BrightView Holdings, Inc NYSE: BV is a provider of commercial landscaping services in the United States. Through its maintenance operations, the company helps businesses, government facilities, sports venues, education campuses, healthcare properties and other organizations manage and maintain outdoor spaces.

BrightView's services include landscape design and development, ongoing landscape maintenance, tree care, irrigation management, water conservation and snow and ice removal. Its landscape development work can include the installation of plants, turf, hardscapes, irrigation systems and other outdoor features, while its maintenance services are intended to support the appearance, health and functionality of managed properties.

The company was formed in 2014 through the combination of Brickman and ValleyCrest, two established landscaping businesses, and became a publicly traded company in 2018.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.