BrightView Holdings, Inc. $BV Shares Bought by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its stake in BrightView Holdings by 11.1% during Q1, now owning approximately 0.20% of the company valued at $2.4 million.
• BrightView reported Q2 earnings of $0.30 per share, missing estimates, with revenue down 4.1% year-over-year at $708.30 million.
• Despite recent downgrades, BrightView holds a consensus rating of "Moderate Buy" from analysts, with an average price target of $17.98.

HighTower Advisors LLC raised its stake in BrightView Holdings, Inc. (NYSE:BV - Free Report) by 11.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,127 shares of the company's stock after purchasing an additional 18,857 shares during the quarter. HighTower Advisors LLC owned about 0.20% of BrightView worth $2,416,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

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

Insider Transactions at BrightView

In related news, EVP Amanda Marie Orders sold 70,000 shares of BrightView stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $14.78, for a total value of $1,034,600.00. Following the completion of the transaction, the executive vice president directly owned 38,446 shares in the company, valued at approximately $568,231.88. This trade represents a 64.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Kkr Group Partnership L.P. sold 11,600,000 shares of BrightView stock in a transaction dated 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 completion of the transaction, the insider 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 ownership of the stock. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by company insiders.

BrightView Stock Down 2.0%

NYSE:BV traded down $0.30 during mid-day trading on Thursday, reaching $14.55. The stock had a trading volume of 1,436,750 shares, compared to its average volume of 927,311. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 484.83 and a beta of 1.26. BrightView Holdings, Inc. has a 1-year low of $11.81 and a 1-year high of $18.89. The stock's 50 day simple moving average is $15.53 and its two-hundred day simple moving average is $14.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.31 and a quick ratio of 1.31.

BrightView (NYSE:BV - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.30 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 analyst estimates of $763.43 million. BrightView had a return on equity of 8.76% and a net margin of 2.00%.The firm's revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.32 earnings per share. Equities analysts anticipate that BrightView Holdings, Inc. will post 0.73 EPS for the current year.

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.