Palisade Capital Management LP Makes New $5.19 Million Investment in BrightView Holdings, Inc. $BV

Palisade Capital Management LP purchased a new stake in BrightView Holdings, Inc. (NYSE:BV) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 366,435 shares of the company’s stock, valued at approximately $5,192,000. Palisade Capital Management LP owned approximately 0.39% of BrightView at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of BrightView in the 2nd quarter valued at about $80,091,000. Dimensional Fund Advisors LP raised its stake in BrightView by 3.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,268,756 shares of the company’s stock worth $62,118,000 after buying an additional 192,376 shares during the period. Van Berkom & Associates Inc. boosted its holdings in BrightView by 3.7% in the first quarter. Van Berkom & Associates Inc. now owns 5,038,617 shares of the company’s stock worth $59,405,000 after acquiring an additional 179,757 shares in the last quarter. Cooke & Bieler LP boosted its holdings in BrightView by 2.3% in the fourth quarter. Cooke & Bieler LP now owns 3,648,496 shares of the company’s stock worth $46,226,000 after acquiring an additional 80,446 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in BrightView by 5.6% in the first quarter. Bessemer Group Inc. now owns 1,879,712 shares of the company’s stock valued at $22,162,000 after acquiring an additional 99,103 shares during the period. Institutional investors and hedge funds own 92.41% of the company’s stock.

Insider Activity

In other news, Director William L. Cornog bought 50,000 shares of the stock in a transaction dated Thursday, August 6th. The stock was bought at an average price of $11.25 per share, for a total transaction of $562,500.00. Following the completion of the acquisition, the director directly owned 70,000 shares in the company, valued at approximately $787,500. This trade represents a 250.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by insiders.

BrightView Stock Performance

Shares of BrightView stock opened at $11.16 on Wednesday. BrightView Holdings, Inc. has a 52 week low of $10.42 and a 52 week high of $15.00. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average price of $13.17 and a 200-day moving average price of $12.77. The company has a market cap of $1.04 billion, a PE ratio of -44.66, a price-to-earnings-growth ratio of 1.81 and a beta of 1.18.

BrightView (NYSE:BV) last announced its earnings results on Tuesday, August 4th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.12). BrightView had a net margin of 0.74% and a return on equity of 5.03%. The company had revenue of $717.60 million for the quarter, compared to analysts’ expectations of $726.13 million. During the same period in the previous year, the firm earned $0.30 EPS. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. Equities analysts anticipate that BrightView Holdings, Inc. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. BTIG Research reaffirmed a “buy” rating and set a $16.00 target price on shares of BrightView in a research report on Monday, May 11th. Oppenheimer assumed coverage on shares of BrightView in a research report on Wednesday, June 17th. They issued an “outperform” rating and a $17.00 price target for the company. Weiss Ratings restated a “sell (d+)” rating on shares of BrightView in a research note on Friday, July 31st. Robert W. Baird set a $14.00 price objective on shares of BrightView in a report on Wednesday, August 5th. Finally, Morgan Stanley dropped their price objective on shares of BrightView from $14.00 to $12.50 and set an “equal weight” rating on the stock in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $14.10.

BrightView Company Profile

BrightView Inc (NYSE:BV) is a leading commercial landscaping services company in the United States, offering a comprehensive suite of outdoor asset management solutions. The company’s core business activities include landscape maintenance, development and enhancement services tailored to a wide array of clients such as corporate campuses, healthcare facilities, multi-family residential properties, retail centers and municipalities.

BrightView’s service portfolio covers routine grounds maintenance, landscape construction and design-build, irrigation system installation and management, tree care, seasonal color programs and snow and ice management.