Vanguard Group Inc. Sells 40,689 Shares of BrightView Holdings, Inc. $BV

Key Points

• Vanguard Group Inc. reduced its holdings in BrightView by 0.7%, now owning 5,790,184 shares valued at approximately $74 million.
• Major shareholder Kkr Group Partnership L.P. sold 11.6 million shares of BrightView for $167 million, representing a 35.01% decrease in their ownership.
• Analysts have lowered price targets for BrightView, with current estimates ranging from $19.00 to $20.00, while the consensus rating remains a "Moderate Buy."

Vanguard Group Inc. decreased its stake in shares of BrightView Holdings, Inc. (NYSE:BV - Free Report) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,790,184 shares of the company's stock after selling 40,689 shares during the period. Vanguard Group Inc. owned about 6.06% of BrightView worth $74,346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BV. Sterling Capital Management LLC lifted its position in BrightView by 832.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,864 shares of the company's stock valued at $30,000 after purchasing an additional 1,664 shares during the period. Tower Research Capital LLC TRC lifted its position in BrightView by 181.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,288 shares of the company's stock valued at $37,000 after purchasing an additional 1,475 shares during the period. CWM LLC lifted its position in BrightView by 58.7% during the first quarter. CWM LLC now owns 3,418 shares of the company's stock valued at $44,000 after purchasing an additional 1,264 shares during the period. NewEdge Advisors LLC bought a new position in BrightView during the fourth quarter valued at approximately $56,000. Finally, GAMMA Investing LLC lifted its position in BrightView by 933.1% during the first quarter. GAMMA Investing LLC now owns 8,089 shares of the company's stock valued at $104,000 after purchasing an additional 7,306 shares during the period. Institutional investors own 92.41% of the company's stock.

Insider Buying and Selling at BrightView

In related news, major shareholder Kkr Group Partnership L.P. sold 11,600,000 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $14.40, for a total transaction of $167,040,000.00. Following the completion of the transaction, the insider directly owned 21,533,123 shares of the company's stock, valued at approximately $310,076,971.20. This trade represents a 35.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Amanda Marie Orders sold 70,000 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $14.78, for a total transaction of $1,034,600.00. Following the transaction, the executive vice president directly owned 38,446 shares of the company's stock, valued at $568,231.88. The trade was a 64.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.20% of the company's stock.

BrightView Price Performance

Shares of NYSE BV traded down $0.37 during midday trading on Thursday, reaching $14.48. The stock had a trading volume of 434,788 shares, compared to its average volume of 742,263. The stock has a 50-day moving average of $15.55 and a 200-day moving average of $14.68. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.31 and a current ratio of 1.31. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 482.50 and a beta of 1.26. BrightView Holdings, Inc. has a 12-month low of $11.81 and a 12-month high of $18.89.

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

Analysts Set New Price Targets

BV has been the topic of several recent research reports. Loop Capital decreased their price target on shares of BrightView from $21.00 to $20.00 and set a "buy" rating on the stock in a research report on Thursday, July 3rd. Robert W. Baird decreased their price target on shares of BrightView from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 2nd. Finally, Wall Street Zen downgraded shares of BrightView from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus 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.