Caisse de depot et placement du Quebec Makes New Investment in Boyd Group Services Inc. $BGSI

Caisse de depot et placement du Quebec purchased a new stake in shares of Boyd Group Services Inc. (NYSE:BGSI) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 404,629 shares of the company’s stock, valued at approximately $38,300,000. Caisse de depot et placement du Quebec owned approximately 1.45% of Boyd Group Services at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Van Berkom & Associates Inc. bought a new stake in shares of Boyd Group Services in the 4th quarter worth $5,010,000. NewGen Asset Management Ltd lifted its position in shares of Boyd Group Services by 155.7% during the first quarter. NewGen Asset Management Ltd now owns 69,800 shares of the company’s stock valued at $8,895,000 after purchasing an additional 42,500 shares in the last quarter. Anson Funds Management LP bought a new position in shares of Boyd Group Services during the first quarter valued at about $2,552,000. Principal Financial Group Inc. purchased a new position in Boyd Group Services during the fourth quarter worth about $62,264,000. Finally, Cibc World Market Inc. purchased a new position in Boyd Group Services during the second quarter worth about $5,222,000. Hedge funds and other institutional investors own 0.17% of the company’s stock.

Boyd Group Services Stock Performance

NYSE BGSI opened at $86.31 on Friday. The company has a market capitalization of $2.40 billion, a PE ratio of 187.63 and a beta of 0.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.46 and a current ratio of 0.60. Boyd Group Services Inc. has a 52-week low of $84.30 and a 52-week high of $183.10. The company has a 50-day simple moving average of $97.77 and a 200 day simple moving average of $119.05.

Boyd Group Services (NYSE:BGSI) last posted its quarterly earnings data on Wednesday, August 12th. The company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.14). Boyd Group Services had a net margin of 0.25% and a return on equity of 5.21%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.02 billion. On average, research analysts predict that Boyd Group Services Inc. will post 3.43 EPS for the current year.

Boyd Group Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders of record on Tuesday, June 30th were paid a $0.156 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.62 annualized dividend and a dividend yield of 0.7%. Boyd Group Services’s dividend payout ratio (DPR) is presently 95.65%.

Analysts Set New Price Targets

Several research firms have commented on BGSI. Zacks Research raised shares of Boyd Group Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Wall Street Zen downgraded Boyd Group Services from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Boyd Group Services in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Boyd Group Services currently has an average rating of “Moderate Buy” and a consensus price target of $157.00.

About Boyd Group Services

Boyd Group Services Inc is a North American operator of collision repair centers that provides vehicle repair, paint and refinishing, and auto glass replacement services. Its locations perform mechanical and cosmetic collision repairs, parts sourcing, and related warranty work, serving retail customers as well as business clients such as insurers and fleet operators. The company’s operations typically include estimating, repair planning, paint and body work, and post-repair quality assurance and customer service.

Headquartered in Winnipeg, Manitoba, Canada, Boyd Group Services operates across both Canada and the United States through a network of company-owned collision repair facilities under various local and regional brand names.