Legal & General Group Plc Makes New Investment in Bristow Group Inc. $VTOL

Key Points

• Legal & General Group Plc acquired 47,446 shares of Bristow Group in the second quarter, worth approximately $1.96 million. Institutional investors collectively own 93.29% of the company.
• Analysts maintain a “Moderate Buy” consensus on Bristow Group, with an average price target of $60. The company’s latest quarterly earnings missed estimates, reporting $0.70 in EPS versus the $0.89 consensus, while revenue slightly exceeded forecasts.
• Bristow declared a quarterly dividend of $0.125 per share, equivalent to an annualized $0.50 dividend and a 1.2% yield. Meanwhile, company insiders sold 40,584 shares valued at approximately $1.86 million over the last quarter.

Legal & General Group Plc acquired a new stake in Bristow Group Inc. (NYSE:VTOL - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 47,446 shares of the company's stock, valued at approximately $1,960,000. Legal & General Group Plc owned about 0.16% of Bristow Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Bristow Group in the second quarter worth about $25,000. Clearstead Advisors LLC increased its holdings in Bristow Group by 1,450.7% during the 4th quarter. Clearstead Advisors LLC now owns 1,070 shares of the company's stock worth $39,000 after purchasing an additional 1,001 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in Bristow Group by 1,645.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,117 shares of the company's stock worth $41,000 after purchasing an additional 1,053 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Bristow Group in the 2nd quarter valued at approximately $43,000. Finally, Strs Ohio acquired a new position in shares of Bristow Group in the 1st quarter valued at approximately $44,000. 93.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bristow Group news, COO Stuart Stavley sold 10,218 shares of Bristow Group stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $46.20, for a total value of $472,071.60. Following the completion of the transaction, the chief operating officer directly owned 64,740 shares in the company, valued at $2,990,988. The trade was a 13.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lorin Brass sold 1,890 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $46.56, for a total value of $87,998.40. Following the sale, the director owned 18,873 shares in the company, valued at $878,726.88. The trade was a 9.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,584 shares of company stock valued at $1,864,317 over the last quarter. Insiders own 12.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of Bristow Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 7th. Weiss Ratings reissued a "buy (b)" rating on shares of Bristow Group in a report on Friday, May 29th. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $60.00.

Bristow Group Price Performance

Shares of VTOL opened at $43.31 on Monday. Bristow Group Inc. has a 52 week low of $35.03 and a 52 week high of $50.38. The company has a current ratio of 2.26, a quick ratio of 1.85 and a debt-to-equity ratio of 0.66. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 12.48 and a beta of 1.19. The stock has a 50 day moving average of $44.66 and a 200-day moving average of $44.85.

Bristow Group (NYSE:VTOL - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $0.89 by ($0.19). The business had revenue of $411.75 million during the quarter, compared to analyst estimates of $407.28 million. Bristow Group had a return on equity of 9.82% and a net margin of 6.66%. As a group, analysts forecast that Bristow Group Inc. will post 3.31 EPS for the current year.

Bristow Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.125 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.50 dividend on an annualized basis and a yield of 1.2%. Bristow Group's dividend payout ratio (DPR) is currently 14.41%.

Bristow Group Company Profile

Bristow Group Inc is a global provider of helicopter services to the offshore energy industry and search-and-rescue (SAR) operations worldwide. The company specializes in the safe and efficient transport of personnel, equipment and supplies to offshore oil and gas platforms, as well as emergency response and medevac services. Bristow's operations support exploration, production and decommissioning activities, helping energy companies maintain continuity of production in some of the world's most challenging environments.

The company maintains a diverse fleet of turbine-powered helicopters, including medium- and heavy-lift aircraft such as the Sikorsky S-92, Airbus H225 (formerly EC225) and Leonardo AW189.

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.