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

Key Points

• Pillsbury Lake Capital acquired 502,957 BrightView shares valued at approximately $7.1 million, representing about 0.54% of the company. Institutional investors collectively own 92.41% of BrightView.
• Analyst sentiment is mixed, with BrightView receiving a consensus “Hold” rating and an average price target of $14.10; recent actions included downgrades to “Sell” and “Strong Sell,” alongside a JPMorgan upgrade to “Neutral.”
• BrightView’s latest quarterly results missed expectations, reporting $0.17 in adjusted earnings per share versus the $0.29 consensus and revenue of $717.6 million versus $726.13 million expected. The stock recently traded at $11.28, while Director William L. Cornog purchased 50,000 shares at $11.25 each.

Pillsbury Lake Capital LLC purchased a new position in BrightView Holdings, Inc. (NYSE:BV - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 502,957 shares of the company's stock, valued at approximately $7,126,901. BrightView comprises about 0.0% of Pillsbury Lake Capital LLC's holdings, making the stock its 28th largest holding. Pillsbury Lake Capital LLC owned about 0.54% of BrightView at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in BV. BNP Paribas Financial Markets raised its position in BrightView by 66.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,591 shares of the company's stock worth $93,000 after buying an additional 2,240 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in BrightView by 225.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,640 shares of the company's stock worth $94,000 after purchasing an additional 3,909 shares during the last quarter. Glenmede Investment Management LP acquired a new stake in shares of BrightView in the 3rd quarter worth approximately $139,000. Janney Montgomery Scott LLC bought a new position in BrightView in the 1st quarter valued at about $145,000. Finally, Landscape Capital Management L.L.C. purchased a new position in BrightView during the 3rd quarter valued at about $163,000. Hedge funds and other institutional investors own 92.41% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of BrightView from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. BTIG Research reaffirmed a "buy" rating and set a $16.00 price target on shares of BrightView in a research report on Monday, May 11th. Robert W. Baird set a $14.00 price objective on BrightView in a report on Wednesday, August 5th. Zacks Research cut BrightView from a "hold" rating to a "strong sell" rating in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. upgraded BrightView from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $13.00 to $14.00 in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, BrightView presently has a consensus rating of "Hold" and an average price target of $14.10.

Insider Transactions at BrightView

In other news, Director William L. Cornog purchased 50,000 shares of the business's stock in a transaction dated Thursday, August 6th. The stock was bought at an average price of $11.25 per share, for a total transaction of $562,500.00. Following the purchase, the director owned 70,000 shares of the company's stock, valued at $787,500. The trade was a 250.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.80% of the company's stock.

BrightView Trading Up 1.8%

BV stock traded up $0.20 during mid-day trading on Friday, hitting $11.28. 801,805 shares of the company were exchanged, compared to its average volume of 742,362. BrightView Holdings, Inc. has a 12-month low of $10.42 and a 12-month high of $15.00. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $1.05 billion, a P/E ratio of -45.12, a PEG ratio of 1.83 and a beta of 1.18. The business has a fifty day simple moving average of $13.10 and a 200-day simple moving average of $12.75.

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

BrightView Profile

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.