Pillsbury Lake Capital LLC Purchases New Position in BrightView Holdings, Inc. $BV

Key Points

• Pillsbury Lake Capital acquired 502,957 BrightView shares worth approximately $7.1 million, giving it a 0.54% stake; institutional investors collectively own 92.41% of the company.
• BrightView insider William L. Cornog purchased 50,000 shares at $11.25 each, increasing his holdings by 250%.
• Analyst sentiment remains mixed, with an average “Hold” rating and a $14.10 consensus price target. The company’s latest quarterly results missed expectations, reporting $0.17 in EPS versus $0.29 forecast and revenue of $717.6 million versus $726.1 million expected.

Pillsbury Lake Capital LLC acquired a new position in shares of BrightView Holdings, Inc. (NYSE:BV - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 502,957 shares of the company's stock, valued at approximately $7,126,901,000. BrightView makes up approximately 1.9% of Pillsbury Lake Capital LLC's portfolio, making the stock its 28th biggest holding. Pillsbury Lake Capital LLC owned 0.54% of BrightView as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BV. Bessemer Group Inc. increased its holdings in BrightView by 5.6% during the 1st quarter. Bessemer Group Inc. now owns 1,879,712 shares of the company's stock valued at $22,162,000 after purchasing an additional 99,103 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of BrightView by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 5,268,756 shares of the company's stock valued at $62,118,000 after buying an additional 192,376 shares during the last quarter. Rice Hall James & Associates LLC acquired a new position in BrightView during the 2nd quarter worth about $3,126,000. Van Berkom & Associates Inc. lifted its position in BrightView by 3.7% during the 1st quarter. Van Berkom & Associates Inc. now owns 5,038,617 shares of the company's stock worth $59,405,000 after buying an additional 179,757 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in BrightView during the 2nd quarter worth about $5,976,000. 92.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director William L. Cornog bought 50,000 shares of the business's stock in a transaction on Thursday, August 6th. The shares were purchased at an average price of $11.25 per share, with a total value of $562,500.00. Following the completion of the purchase, the director owned 70,000 shares of the company's stock, valued at $787,500. This represents a 250.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BV. Wall Street Zen cut shares of BrightView from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. JPMorgan Chase & Co. raised shares of BrightView from an "underweight" rating to a "neutral" rating and increased their price target for the company from $13.00 to $14.00 in a research note on Thursday, May 7th. Weiss Ratings reissued a "sell (d+)" rating on shares of BrightView in a research note on Friday, July 31st. Zacks Research cut shares of BrightView from a "hold" rating to a "strong sell" rating in a research report on Tuesday, July 14th. Finally, Oppenheimer started coverage on BrightView in a report on Wednesday, June 17th. They set an "outperform" rating and a $17.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $14.10.

BrightView Price Performance

BV opened at $11.06 on Thursday. The company has a fifty day moving average price of $13.14 and a two-hundred day moving average price of $12.76. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $1.03 billion, a PE ratio of -44.24, a P/E/G ratio of 1.85 and a beta of 1.18. BrightView Holdings, Inc. has a 52 week low of $10.42 and a 52 week high of $15.00.

BrightView (NYSE:BV - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.12). BrightView had a return on equity of 5.03% and a net margin of 0.74%.The company had revenue of $717.60 million during the quarter, compared to the consensus estimate of $726.13 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The firm's revenue for the quarter was up 1.3% on a year-over-year basis. As a group, analysts anticipate that BrightView Holdings, Inc. will post 0.4 earnings per share for the current year.

About BrightView

BrightView Inc NYSE: BV is a leading commercial landscaping services company in the United States, offering a comprehensive suite of outdoor asset management solutions. The company's core business activities include landscape maintenance, development and enhancement services tailored to a wide array of clients such as corporate campuses, healthcare facilities, multi-family residential properties, retail centers and municipalities.

BrightView's service portfolio covers routine grounds maintenance, landscape construction and design-build, irrigation system installation and management, tree care, seasonal color programs and snow and ice management.

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