T. Rowe Price Investment Management Inc. Sells 5,236,631 Shares of BrightView Holdings, Inc. $BV

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. decreased its holdings in shares of BrightView Holdings, Inc. (NYSE:BV - Free Report) by 75.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 1.82% of BrightView worth $22,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of BrightView by 12.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,063,472 shares of the company's stock valued at $64,976,000 after buying an additional 454,756 shares in the last quarter. Cooke & Bieler LP grew its holdings in shares of BrightView by 38.2% during the first quarter. Cooke & Bieler LP now owns 2,515,610 shares of the company's stock valued at $32,300,000 after buying an additional 695,315 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of BrightView by 2.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 1,132,685 shares of the company's stock valued at $18,112,000 after buying an additional 24,328 shares in the last quarter. Boston Partners grew its holdings in shares of BrightView by 74.2% during the first quarter. Boston Partners now owns 1,009,148 shares of the company's stock valued at $12,959,000 after buying an additional 429,989 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC grew its holdings in shares of BrightView by 7.4% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 953,746 shares of the company's stock valued at $15,250,000 after buying an additional 65,632 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Robert W. Baird lowered their target price on BrightView from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 2nd. Wall Street Zen downgraded BrightView from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Loop Capital lowered their target price on BrightView from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Thursday, July 3rd. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $17.98.

Insider Activity

In other news, 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 completion of the sale, the insider owned 21,533,123 shares in the company, valued at approximately $310,076,971.20. This represents a 35.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Amanda Marie Orders sold 70,000 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $14.78, for a total value of $1,034,600.00. Following the sale, the executive vice president owned 38,446 shares of the company's stock, valued at approximately $568,231.88. This trade represents a 64.55% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company's stock.

BrightView Stock Up 1.5%

Shares of BV traded up $0.22 during trading hours on Wednesday, hitting $14.83. 738,878 shares of the company were exchanged, compared to its average volume of 741,117. The company has a market cap of $1.41 billion, a PE ratio of 494.17 and a beta of 1.26. The firm's 50 day moving average is $15.56 and its 200-day moving average is $14.68. BrightView Holdings, Inc. has a 52 week low of $11.81 and a 52 week high of $18.89. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.31 and a current ratio of 1.31.

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

BrightView Profile

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.