Vanguard Group Inc. Buys 71,638 Shares of Bristow Group Inc. $VTOL

Key Points

• Vanguard Group increased its Bristow Group stake by 3.6% in the fourth quarter, buying 71,638 shares to bring its total holding to 2,056,599 shares, or about 7.11% of the company.
• Several other institutional investors also added to or initiated positions, and institutional ownership is high at 93.29% of Bristow Group’s stock.
• Bristow Group reported Q1 EPS of $0.44, missing analyst estimates, while revenue came in slightly above expectations at $388.71 million; the company also announced a quarterly dividend of $0.125 per share.

Vanguard Group Inc. raised its stake in Bristow Group Inc. (NYSE:VTOL - Free Report) by 3.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,056,599 shares of the company's stock after buying an additional 71,638 shares during the period. Vanguard Group Inc. owned about 7.11% of Bristow Group worth $75,313,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Amalgamated Bank boosted its position in shares of Bristow Group by 3.7% during the 3rd quarter. Amalgamated Bank now owns 7,253 shares of the company's stock valued at $262,000 after purchasing an additional 256 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Bristow Group by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,592 shares of the company's stock valued at $461,000 after purchasing an additional 609 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Bristow Group by 4.3% during the 3rd quarter. Lazard Asset Management LLC now owns 17,426 shares of the company's stock valued at $629,000 after purchasing an additional 719 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Bristow Group during the 2nd quarter worth approximately $25,000. Finally, State of Wyoming raised its stake in Bristow Group by 16.4% during the 2nd quarter. State of Wyoming now owns 5,804 shares of the company's stock worth $191,000 after buying an additional 816 shares during the period. Institutional investors own 93.29% of the company's stock.

Insider Buying and Selling at Bristow Group

In other Bristow Group news, Director Lorin L. Brass sold 3,250 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $49.04, for a total transaction of $159,380.00. Following the completion of the transaction, the director directly owned 18,455 shares of the company's stock, valued at approximately $905,033.20. This represents a 14.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Wesley E. Kern sold 3,079 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $46.83, for a total value of $144,189.57. Following the transaction, the director directly owned 32,000 shares of the company's stock, valued at approximately $1,498,560. This trade represents a 8.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 61,104 shares of company stock valued at $2,869,206 in the last quarter. Insiders own 13.40% of the company's stock.

Analyst Upgrades and Downgrades

VTOL has been the topic of a number of research reports. Wall Street Zen downgraded Bristow Group from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Bristow Group in a research note on Wednesday, January 21st. Raymond James Financial initiated coverage on Bristow Group in a research note on Tuesday, February 17th. They set an "outperform" rating and a $60.00 price target on the stock. JonesTrading initiated coverage on Bristow Group in a research note on Friday, January 23rd. They set a "buy" rating on the stock. Finally, Zacks Research downgraded Bristow Group from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.00.

Bristow Group Stock Performance

Shares of Bristow Group stock opened at $42.56 on Friday. The company has a market cap of $1.26 billion, a PE ratio of 11.08 and a beta of 1.29. Bristow Group Inc. has a 52 week low of $28.03 and a 52 week high of $50.38. The business has a 50 day moving average price of $46.17 and a 200-day moving average price of $42.35. The company has a quick ratio of 1.79, a current ratio of 2.15 and a debt-to-equity ratio of 0.69.

Bristow Group (NYSE:VTOL - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.57). The company had revenue of $388.71 million during the quarter, compared to analysts' expectations of $383.68 million. Bristow Group had a return on equity of 11.10% and a net margin of 7.51%. Equities analysts anticipate that Bristow Group Inc. will post 3.87 earnings per share for the current fiscal year.

Bristow Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, May 15th. Bristow Group's dividend payout ratio is 13.02%.

Bristow Group Profile

Bristow Group Inc is a global provider of helicopter services to the offshore energy industry and search-and-rescue (SAR) operations worldwide. The company specializes in the safe and efficient transport of personnel, equipment and supplies to offshore oil and gas platforms, as well as emergency response and medevac services. Bristow's operations support exploration, production and decommissioning activities, helping energy companies maintain continuity of production in some of the world's most challenging environments.

The company maintains a diverse fleet of turbine-powered helicopters, including medium- and heavy-lift aircraft such as the Sikorsky S-92, Airbus H225 (formerly EC225) and Leonardo AW189.

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