Geode Capital Management LLC Acquires 206,359 Shares of BrightView Holdings, Inc. (NYSE:BV)

Geode Capital Management LLC raised its holdings in BrightView Holdings, Inc. (NYSE:BV) by 18.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,337,545 shares of the company’s stock after buying an additional 206,359 shares during the period. Geode Capital Management LLC’s holdings in BrightView were worth $21,057,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BV. Millburn Ridgefield Corp bought a new position in shares of BrightView in the third quarter valued at about $45,000. FMR LLC grew its stake in BrightView by 293.4% in the 3rd quarter. FMR LLC now owns 6,884 shares of the company’s stock valued at $108,000 after buying an additional 5,134 shares during the last quarter. Quest Partners LLC bought a new position in BrightView in the 3rd quarter valued at about $153,000. Kathmere Capital Management LLC acquired a new stake in BrightView during the second quarter worth approximately $133,000. Finally, XTX Topco Ltd acquired a new stake in BrightView during the third quarter worth approximately $184,000. 92.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BrightView

In related news, EVP Jonathan Mark Gottsegen sold 29,658 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $16.06, for a total transaction of $476,307.48. Following the completion of the sale, the executive vice president now directly owns 100,354 shares in the company, valued at $1,611,685.24. This represents a 22.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is currently owned by insiders.

BrightView Stock Down 2.2 %

Shares of NYSE BV opened at $16.04 on Friday. The stock has a market capitalization of $1.52 billion, a P/E ratio of 145.83 and a beta of 1.30. The stock’s fifty day moving average is $16.79 and its 200 day moving average is $15.39. BrightView Holdings, Inc. has a 52 week low of $7.75 and a 52 week high of $18.89. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.44 and a current ratio of 1.44.

BrightView (NYSE:BV) last released its earnings results on Wednesday, November 13th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.28 by $0.02. BrightView had a net margin of 2.40% and a return on equity of 7.65%. The firm had revenue of $728.70 million for the quarter, compared to analyst estimates of $723.01 million. During the same period last year, the firm earned $0.14 EPS. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. Sell-side analysts forecast that BrightView Holdings, Inc. will post 0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on BV. BTIG Research began coverage on BrightView in a research report on Monday, December 2nd. They issued a “buy” rating and a $22.00 target price on the stock. Robert W. Baird upped their price objective on BrightView from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, November 14th. William Blair raised BrightView from a “market perform” rating to an “outperform” rating in a report on Friday, November 15th. The Goldman Sachs Group upped their price target on shares of BrightView from $11.30 to $12.90 and gave the company a “sell” rating in a research note on Friday, November 15th. Finally, Loop Capital raised their price target on shares of BrightView from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.11.

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.