Harvey Partners LLC Has $46.75 Million Stake in BrightView Holdings, Inc. $BV

Harvey Partners LLC lifted its holdings in BrightView Holdings, Inc. (NYSE:BV) by 8.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,808,000 shares of the company’s stock after acquiring an additional 227,500 shares during the period. BrightView makes up approximately 4.6% of Harvey Partners LLC’s investment portfolio, making the stock its 4th largest position. Harvey Partners LLC’s holdings in BrightView were worth $46,753,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. XTX Topco Ltd acquired a new position in shares of BrightView during the 1st quarter worth approximately $129,000. Nuveen LLC acquired a new stake in BrightView during the first quarter worth approximately $4,500,000. HighTower Advisors LLC increased its stake in BrightView by 11.1% during the 1st quarter. HighTower Advisors LLC now owns 188,127 shares of the company’s stock worth $2,416,000 after acquiring an additional 18,857 shares during the period. Russell Investments Group Ltd. raised its holdings in BrightView by 8.2% in the 1st quarter. Russell Investments Group Ltd. now owns 426,487 shares of the company’s stock valued at $5,476,000 after acquiring an additional 32,427 shares in the last quarter. Finally, Boston Partners raised its holdings in BrightView by 74.2% in the 1st quarter. Boston Partners now owns 1,009,148 shares of the company’s stock valued at $12,959,000 after acquiring an additional 429,989 shares in the last quarter. Institutional investors and hedge funds own 92.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on BV. The Goldman Sachs Group reduced their target price on BrightView from $13.50 to $10.50 and set a “sell” rating on the stock in a report on Thursday, November 20th. BTIG Research assumed coverage on shares of BrightView in a research report on Monday, December 1st. They issued a “buy” rating and a $15.00 target price for the company. Morgan Stanley cut their price target on shares of BrightView from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Thursday, November 20th. Robert W. Baird decreased their price objective on shares of BrightView from $19.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Finally, Zacks Research upgraded shares of BrightView from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, BrightView currently has an average rating of “Hold” and a consensus price target of $14.50.

Insiders Place Their Bets

In other news, Director William L. Cornog bought 10,000 shares of the stock in a transaction on Tuesday, December 2nd. The stock was acquired at an average price of $12.84 per share, with a total value of $128,400.00. Following the acquisition, the director directly owned 30,000 shares in the company, valued at approximately $385,200. This trade represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Mark Gottsegen sold 35,000 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $12.62, for a total value of $441,700.00. Following the completion of the transaction, the executive vice president owned 142,958 shares of the company’s stock, valued at $1,804,129.96. This represents a 19.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.20% of the stock is currently owned by corporate insiders.

BrightView Trading Down 1.1%

BV opened at $12.82 on Friday. The company has a market cap of $1.21 billion, a P/E ratio of 320.38 and a beta of 1.30. The company has a current ratio of 1.29, a quick ratio of 1.30 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $12.61 and its 200-day moving average is $14.24. BrightView Holdings, Inc. has a 1-year low of $11.06 and a 1-year high of $17.16.

BrightView (NYSE:BV) last issued its quarterly earnings data on Wednesday, November 19th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.05). BrightView had a net margin of 2.10% and a return on equity of 8.43%. The company had revenue of $702.80 million during the quarter, compared to the consensus estimate of $718.03 million. During the same period in the previous year, the company earned $0.30 EPS. BrightView’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities research analysts predict that BrightView Holdings, Inc. will post 0.73 earnings per share 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.