Healthcare of Ontario Pension Plan Trust Fund Has $22.70 Million Position in Boyd Group Services Inc. $BGSI

Key Points

• Healthcare of Ontario Pension Plan Trust Fund cut its Boyd Group Services stake by 11.2% in the first quarter, selling 22,424 shares and retaining 177,576 shares worth approximately $22.7 million.
• Analyst sentiment is mixed but leans cautious: the stock has an average rating of “Hold” and a consensus price target of $157, while recent research firms issued downgrades and sell ratings.
• Boyd Group Services reported quarterly EPS of $0.58, slightly above expectations, and announced a quarterly dividend of $0.156 per share, equivalent to a 0.6% yield.

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in shares of Boyd Group Services Inc. (NYSE:BGSI - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 177,576 shares of the company's stock after selling 22,424 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.64% of Boyd Group Services worth $22,705,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. purchased a new position in Boyd Group Services in the fourth quarter valued at about $62,264,000. Van Berkom & Associates Inc. acquired a new position in Boyd Group Services in the 4th quarter worth about $5,010,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Boyd Group Services during the 4th quarter worth about $2,845,000. Cidel Asset Management Inc. purchased a new stake in shares of Boyd Group Services during the 4th quarter worth about $9,046,000. Finally, Intact Investment Management Inc. acquired a new stake in shares of Boyd Group Services during the 4th quarter valued at about $25,769,000. 0.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Boyd Group Services Trading Down 0.6%

Shares of Boyd Group Services stock opened at $101.53 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.60 and a quick ratio of 0.46. The business has a fifty day moving average price of $99.79. The firm has a market capitalization of $2.83 billion, a PE ratio of 153.83 and a beta of 0.76. Boyd Group Services Inc. has a 1-year low of $88.97 and a 1-year high of $183.10.

Boyd Group Services (NYSE:BGSI - Get Free Report) last posted its earnings results on Wednesday, May 13th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.56 by $0.02. Boyd Group Services had a net margin of 0.39% and a return on equity of 4.90%. As a group, research analysts predict that Boyd Group Services Inc. will post 3.85 earnings per share 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. Investors of record on Tuesday, June 30th will be paid a dividend of $0.156 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.62 annualized dividend and a yield of 0.6%. Boyd Group Services's dividend payout ratio is presently 66.67%.

About Boyd Group Services

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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