BrightView Holdings, Inc. $BV Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. has reduced its holdings in BrightView Holdings by 75.2%, selling over 5.2 million shares and retaining approximately 1.7 million shares valued at $22.2 million.
• BrightView has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a revised price target of $17.98, marking a reduction from previous estimates.
• BrightView's recent quarterly earnings missed analysts’ expectations, reporting $0.30 earnings per share against a consensus estimate of $0.32, and its revenue declined by 4.1% year-over-year.

T. Rowe Price Investment Management Inc. lessened its position in shares of BrightView Holdings, Inc. (NYSE:BV - Free Report) by 75.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,729,903 shares of the company's stock after selling 5,236,631 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.82% of BrightView worth $22,212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP acquired a new position in shares of BrightView in the fourth quarter worth $3,388,000. HighTower Advisors LLC grew its stake in shares of BrightView by 11.1% during the first quarter. HighTower Advisors LLC now owns 188,127 shares of the company's stock worth $2,416,000 after purchasing an additional 18,857 shares in the last quarter. Deutsche Bank AG lifted its position in BrightView by 71.1% in the fourth quarter. Deutsche Bank AG now owns 45,086 shares of the company's stock valued at $721,000 after acquiring an additional 18,742 shares during the last quarter. MetLife Investment Management LLC lifted its position in BrightView by 6.9% in the fourth quarter. MetLife Investment Management LLC now owns 35,505 shares of the company's stock valued at $568,000 after acquiring an additional 2,277 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in BrightView by 23.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 142,583 shares of the company's stock valued at $2,280,000 after acquiring an additional 27,148 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on BV. Loop Capital reduced their target price on shares of BrightView from $21.00 to $20.00 and set a "buy" rating for the company in a report on Thursday, July 3rd. Robert W. Baird reduced their target price on shares of BrightView from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, July 2nd. Finally, Wall Street Zen cut shares of BrightView from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.98.

Insider Activity

In other BrightView news, EVP Amanda Marie Orders sold 70,000 shares of the company's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $14.78, for a total transaction of $1,034,600.00. Following the transaction, the executive vice president directly owned 38,446 shares in the company, valued at approximately $568,231.88. This represents a 64.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Kkr Group Partnership L.P. sold 11,600,000 shares of the company's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $14.40, for a total transaction of $167,040,000.00. Following the transaction, the insider owned 21,533,123 shares in the company, valued at $310,076,971.20. The trade was a 35.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company's stock.

BrightView Price Performance

BV traded down $0.18 on Friday, hitting $14.38. 100,706 shares of the company were exchanged, compared to its average volume of 741,348. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.31 and a current ratio of 1.31. The business's fifty day moving average is $15.53 and its 200 day moving average is $14.68. BrightView Holdings, Inc. has a fifty-two week low of $11.81 and a fifty-two week high of $18.89. The firm has a market capitalization of $1.36 billion, a P/E ratio of 479.17 and a beta of 1.26.

BrightView (NYSE:BV - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.02). BrightView had a return on equity of 8.76% and a net margin of 2.00%.The company had revenue of $708.30 million for the quarter, compared to analyst estimates of $763.43 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company's quarterly revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that BrightView Holdings, Inc. will post 0.73 EPS for the current year.

About BrightView

BrightView Holdings, Inc, through its subsidiaries, provides commercial landscaping services in the United States. It operates through two segments, Maintenance Services and Development Services. The Maintenance Services segment delivers a suite of recurring commercial landscaping services, including mowing, gardening, mulching and snow removal, water management, irrigation maintenance, tree care, golf course maintenance, and specialty turf maintenance.