Principal Financial Group Inc. Raises Position in Blue Bird Co. (NASDAQ:BLBD)

Principal Financial Group Inc. raised its position in Blue Bird Co. (NASDAQ:BLBD) by 60.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 58,019 shares of the company’s stock after buying an additional 21,919 shares during the period. Principal Financial Group Inc. owned about 0.18% of Blue Bird worth $2,783,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Quarry LP boosted its stake in Blue Bird by 43.9% during the 2nd quarter. Quarry LP now owns 1,174 shares of the company’s stock worth $63,000 after purchasing an additional 358 shares during the last quarter. Savant Capital LLC boosted its position in Blue Bird by 3.4% during the second quarter. Savant Capital LLC now owns 11,473 shares of the company’s stock worth $618,000 after acquiring an additional 382 shares during the last quarter. Macroview Investment Management LLC purchased a new stake in Blue Bird during the 2nd quarter valued at about $29,000. GPS Wealth Strategies Group LLC raised its holdings in Blue Bird by 22.5% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 3,325 shares of the company’s stock valued at $179,000 after acquiring an additional 610 shares during the last quarter. Finally, Creative Planning raised its holdings in Blue Bird by 13.5% in the 3rd quarter. Creative Planning now owns 5,937 shares of the company’s stock valued at $285,000 after acquiring an additional 707 shares during the last quarter. 93.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Roth Mkm lowered Blue Bird from a “buy” rating to a “neutral” rating and set a $48.00 price target for the company. in a research report on Thursday, October 3rd. BTIG Research initiated coverage on Blue Bird in a report on Wednesday, October 9th. They issued a “buy” rating and a $55.00 target price for the company. Needham & Company LLC reduced their price target on Blue Bird from $72.00 to $66.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Barclays upped their price objective on shares of Blue Bird from $43.00 to $54.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Bank of America raised their price objective on shares of Blue Bird from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Blue Bird presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.14.

Blue Bird Trading Up 2.7 %

NASDAQ BLBD opened at $41.18 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.40 and a quick ratio of 0.66. The stock has a market capitalization of $1.33 billion, a P/E ratio of 13.29, a PEG ratio of 0.18 and a beta of 1.62. The firm’s 50-day moving average is $44.49 and its two-hundred day moving average is $48.59. Blue Bird Co. has a 12 month low of $17.79 and a 12 month high of $59.40.

Insider Activity

In other news, President Britton Smith sold 2,508 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.81, for a total value of $124,923.48. Following the completion of the transaction, the president now owns 80,617 shares of the company’s stock, valued at approximately $4,015,532.77. This trade represents a 3.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Phil Horlock sold 32,159 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $48.93, for a total transaction of $1,573,539.87. Following the sale, the chief executive officer now owns 299,812 shares in the company, valued at approximately $14,669,801.16. This trade represents a 9.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.10% of the company’s stock.

Blue Bird Company Profile

Blue Bird Corporation, together with its subsidiaries, designs, engineers, manufactures, and sells school buses in the United States, Canada, and internationally. The company operates through two segments, Bus and Parts. It offers Type C, Type D, and specialty buses; and alternative power options through its propane powered, gasoline powered, compressed natural gas powered, and electric powered school buses, as well as diesel engines.