Telemark Asset Management LLC Boosts Stake in BrightView Holdings, Inc. (NYSE:BV)

Key Points

• Telemark Asset Management LLC has increased its stake in BrightView Holdings by 5.9%, now owning 900,000 shares valued at approximately $11.56 million.
• BrightView reported earnings per share (EPS) of $0.30 for the last quarter, missing analyst expectations, with a revenue of $708.3 million compared to forecasts of $763.43 million.
• Wall Street analysts have mixed ratings for BrightView, with an average target price of $17.82 and six analysts giving it a "buy" rating despite recent price adjustments.

Telemark Asset Management LLC increased its holdings in shares of BrightView Holdings, Inc. (NYSE:BV - Free Report) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 900,000 shares of the company's stock after purchasing an additional 50,000 shares during the quarter. BrightView accounts for 1.5% of Telemark Asset Management LLC's portfolio, making the stock its 22nd biggest holding. Telemark Asset Management LLC owned about 0.94% of BrightView worth $11,556,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BV. Vanguard Group Inc. increased its position in shares of BrightView by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 5,830,873 shares of the company's stock valued at $93,236,000 after purchasing an additional 59,857 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 during the last quarter. Cooke & Bieler LP raised its position in BrightView by 38.2% in the first quarter. Cooke & Bieler LP now owns 2,515,610 shares of the company's stock worth $32,300,000 after acquiring an additional 695,315 shares during the period. Bessemer Group Inc. boosted its stake in shares of BrightView by 25.9% during the 4th quarter. Bessemer Group Inc. now owns 1,908,651 shares of the company's stock worth $30,520,000 after acquiring an additional 393,103 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its stake in shares of BrightView by 2.2% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,132,685 shares of the company's stock worth $18,112,000 after acquiring an additional 24,328 shares during the last quarter. 92.41% of the stock is owned by hedge funds and other institutional investors.

BrightView Price Performance

NYSE:BV opened at $15.39 on Friday. The business's 50-day simple moving average is $15.87 and its two-hundred day simple moving average is $14.77. BrightView Holdings, Inc. has a 52 week low of $11.81 and a 52 week high of $18.89. The stock has a market cap of $1.47 billion, a PE ratio of 512.83 and a beta of 1.26. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.63.

BrightView (NYSE:BV - Get Free Report) last released its 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). BrightView had a return on equity of 8.78% and a net margin of 2.00%. The business had revenue of $708.30 million for the quarter, compared to analysts' expectations of $763.43 million. During the same quarter in the prior year, the business posted $0.32 EPS. The business's revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts forecast that BrightView Holdings, Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BV shares. Loop Capital reduced their price objective on BrightView from $21.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, July 3rd. Wall Street Zen upgraded BrightView from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Finally, Robert W. Baird lowered their price objective on BrightView from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.82.

Insider Transactions at BrightView

In other news, major shareholder Kkr Group Partnership L.P. sold 11,600,000 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $14.40, for a total value of $167,040,000.00. Following the transaction, the insider owned 21,533,123 shares of the company's stock, valued at approximately $310,076,971.20. The trade was a 35.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by company insiders.

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.

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