Intact Investment Management Inc. Purchases New Holdings in Boyd Group Services Inc. $BGSI

Key Points

• Intact Investment Management bought a new stake of 161,780 shares in Boyd Group Services valued at about $25.77 million, representing roughly 0.58% ownership at quarter-end.
• Several other large institutions also initiated sizable positions, notably Vanguard (~$187.26 million) and Massachusetts Financial Services (~$29.22 million), signaling renewed institutional interest in BGSI.
• Boyd reported $0.90 EPS for the quarter (above the $0.63 estimate) but revenue missed at $793.85 million versus $821.73 million expected; the stock yields about 0.5% annually and carries a market cap near $3.4 billion.

Intact Investment Management Inc. purchased a new stake in shares of Boyd Group Services Inc. (NYSE:BGSI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 161,780 shares of the company's stock, valued at approximately $25,769,000. Intact Investment Management Inc. owned about 0.58% of Boyd Group Services at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. bought a new position in Boyd Group Services during the fourth quarter valued at $187,263,000. Massachusetts Financial Services Co. MA bought a new position in Boyd Group Services during the fourth quarter valued at $29,216,000. Addenda Capital Inc. bought a new position in Boyd Group Services during the fourth quarter valued at $10,843,000. Cidel Asset Management Inc. bought a new position in Boyd Group Services during the fourth quarter valued at $9,046,000. Finally, Louisbourg Investments Inc. bought a new position in Boyd Group Services during the fourth quarter valued at $7,272,000. 0.17% of the stock is owned by hedge funds and other institutional investors.

Boyd Group Services Price Performance

Boyd Group Services stock opened at $122.32 on Monday. Boyd Group Services Inc. has a one year low of $115.40 and a one year high of $183.10. The stock has a fifty day moving average of $140.55. The company has a quick ratio of 3.00, a current ratio of 3.14 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 149.17 and a beta of 0.78.

Boyd Group Services (NYSE:BGSI - Get Free Report) last posted its quarterly earnings results on Wednesday, March 18th. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.63 by $0.27. Boyd Group Services had a return on equity of 4.63% and a net margin of 0.59%.The firm had revenue of $793.85 million during the quarter, compared to analyst estimates of $821.73 million. Sell-side analysts expect that Boyd Group Services Inc. will post 4.42 earnings per share for the current fiscal year.

Boyd Group Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st were issued a $0.156 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, March 31st. Boyd Group Services's dividend payout ratio (DPR) is presently 54.88%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Scotiabank raised Boyd Group Services to a "strong-buy" rating in a report on Wednesday, January 14th. Wall Street Zen lowered Boyd Group Services from a "buy" rating to a "hold" rating in a report on Saturday. Stephens reduced their price objective on Boyd Group Services from $200.00 to $157.00 and set an "overweight" rating for the company in a report on Tuesday, April 14th. Finally, Weiss Ratings assumed coverage on Boyd Group Services in a report on Thursday, January 15th. They set a "sell (d+)" rating for the company. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $157.00.

Boyd Group Services Company Profile

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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