Principal Financial Group Inc. Purchases New Shares in Boyd Group Services Inc. $BGSI

Key Points

• Principal Financial Group opened a new position in Boyd Group Services by buying 390,570 shares valued at approximately $62.26 million, representing about 1.40% ownership at the end of the quarter.
• Boyd reported $0.90 EPS for the quarter versus $0.63 expected (an EPS beat) while revenue of $793.85 million missed the $821.73 million consensus; the stock was trading up 1.8% and the company has a market cap of $3.34 billion and a P/E of 146.49.
• Boyd declared a quarterly dividend of $0.156 (annualized $0.62, ~0.5% yield) and faces mixed analyst coverage with a MarketBeat consensus of "Moderate Buy" and an average price target of $157.00.

Principal Financial Group Inc. purchased a new position in shares of Boyd Group Services Inc. (NYSE:BGSI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 390,570 shares of the company's stock, valued at approximately $62,264,000. Principal Financial Group Inc. owned 1.40% of Boyd Group Services at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Louisbourg Investments Inc. purchased a new stake in shares of Boyd Group Services in the fourth quarter valued at about $7,272,000. Cidel Asset Management Inc. acquired a new position in Boyd Group Services in the 4th quarter valued at about $9,046,000. Addenda Capital Inc. purchased a new stake in Boyd Group Services during the 4th quarter valued at approximately $10,843,000. Massachusetts Financial Services Co. MA purchased a new stake in Boyd Group Services during the 4th quarter valued at approximately $29,216,000. Finally, Assetmark Inc. acquired a new stake in Boyd Group Services during the 4th quarter worth approximately $59,000. 0.17% of the stock is owned by hedge funds and other institutional investors.

Boyd Group Services Trading Up 1.8%

Shares of BGSI stock opened at $120.12 on Friday. The company has a current ratio of 3.14, a quick ratio of 3.00 and a debt-to-equity ratio of 0.54. The stock's 50 day simple moving average is $137.40. The stock has a market cap of $3.34 billion, a P/E ratio of 146.49 and a beta of 0.78. Boyd Group Services Inc. has a 12-month low of $115.40 and a 12-month high of $183.10.

Boyd Group Services (NYSE:BGSI - Get Free Report) last posted its quarterly earnings results on Wednesday, March 18th. The company reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.27. The firm had revenue of $793.85 million for the quarter, compared to the consensus estimate of $821.73 million. Boyd Group Services had a return on equity of 4.63% and a net margin of 0.59%. On average, equities analysts forecast that Boyd Group Services Inc. will post 4.05 earnings per share for the current fiscal year.

Boyd Group Services Announces Dividend

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 was Tuesday, March 31st. Boyd Group Services's dividend payout ratio (DPR) is currently 54.88%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BGSI. Scotiabank raised Boyd Group Services to a "strong-buy" rating in a report on Wednesday, January 14th. Wall Street Zen downgraded Boyd Group Services from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Weiss Ratings started coverage on shares of Boyd Group Services in a research note on Thursday, January 15th. They issued a "sell (d+)" rating on the stock. Finally, Stephens cut their price objective on shares of Boyd Group Services from $200.00 to $157.00 and set an "overweight" rating for the company in a research report on Tuesday, April 14th. One equities 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, the company has a consensus rating of "Moderate Buy" and an average price target of $157.00.

Boyd Group Services 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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