Wellington Management Group LLP Lowers Stake in BrightView Holdings, Inc. (NYSE:BV)

Wellington Management Group LLP lowered its stake in shares of BrightView Holdings, Inc. (NYSE:BV) by 49.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,539,320 shares of the company’s stock after selling 1,486,976 shares during the quarter. Wellington Management Group LLP owned 1.63% of BrightView worth $12,961,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in BrightView by 59.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,302 shares of the company’s stock worth $61,000 after purchasing an additional 2,726 shares during the period. Mackenzie Financial Corp raised its position in BrightView by 17.1% in the 4th quarter. Mackenzie Financial Corp now owns 28,176 shares of the company’s stock worth $237,000 after purchasing an additional 4,124 shares during the period. SG Americas Securities LLC raised its position in BrightView by 24.5% in the 4th quarter. SG Americas Securities LLC now owns 23,463 shares of the company’s stock worth $198,000 after purchasing an additional 4,624 shares during the period. Tower Research Capital LLC TRC grew its holdings in BrightView by 977.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,584 shares of the company’s stock worth $98,000 after acquiring an additional 10,509 shares during the last quarter. Finally, Russell Investments Group Ltd. bought a new position in shares of BrightView during the fourth quarter valued at about $91,000. Hedge funds and other institutional investors own 92.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BV. Jefferies Financial Group reaffirmed a “hold” rating and set a $9.00 price objective on shares of BrightView in a research note on Monday, March 4th. Craig Hallum began coverage on shares of BrightView in a research note on Monday, March 4th. They set a “buy” rating and a $15.00 price objective for the company. Robert W. Baird upped their price objective on shares of BrightView from $8.50 to $13.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $10.00 price objective (up from $8.00) on shares of BrightView in a research note on Thursday, April 4th.

BrightView Price Performance

Shares of NYSE BV opened at $13.40 on Thursday. BrightView Holdings, Inc. has a 1 year low of $6.58 and a 1 year high of $14.42. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.67 and a quick ratio of 1.67. The company’s 50-day moving average is $13.05 and its 200 day moving average is $10.64. The stock has a market capitalization of $1.27 billion, a P/E ratio of 67.00 and a beta of 1.32.

BrightView (NYSE:BV) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.04. BrightView had a net margin of 1.80% and a return on equity of 5.78%. The company had revenue of $672.90 million for the quarter, compared to analysts’ expectations of $683.80 million. During the same quarter in the previous year, the company earned ($0.12) earnings per share. BrightView’s quarterly revenue was up 3.5% on a year-over-year basis. On average, sell-side analysts expect that BrightView Holdings, Inc. will post 0.65 earnings per share for the current year.

Insiders Place Their Bets

In other BrightView news, major shareholder Kkr Group Partnership L.P. sold 17,500,000 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $12.48, for a total value of $218,400,000.00. Following the sale, the insider now owns 33,133,123 shares in the company, valued at $413,501,375.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.40% of the company’s stock.

About BrightView

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.