Elo Mutual Pension Insurance Co Grows Stock Position in Bentley Systems, Incorporated (NASDAQ:BSY)

Elo Mutual Pension Insurance Co lifted its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY) by 29.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 18,198 shares of the company’s stock after acquiring an additional 4,106 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Bentley Systems were worth $850,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Montanaro Asset Management Ltd grew its position in Bentley Systems by 12.6% during the 4th quarter. Montanaro Asset Management Ltd now owns 373,216 shares of the company’s stock worth $17,429,000 after purchasing an additional 41,800 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Bentley Systems by 0.7% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 106,178 shares of the company’s stock worth $4,998,000 after buying an additional 713 shares during the period. LPL Financial LLC grew its holdings in shares of Bentley Systems by 0.5% during the fourth quarter. LPL Financial LLC now owns 330,954 shares of the company’s stock valued at $15,456,000 after buying an additional 1,509 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Bentley Systems in the 4th quarter valued at $2,363,000. Finally, Quantbot Technologies LP purchased a new position in Bentley Systems in the 4th quarter worth $3,867,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

Insider Activity

In other news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $46.33, for a total transaction of $53,372.16. Following the transaction, the director now owns 16,703,876 shares in the company, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 21.12% of the company’s stock.

Bentley Systems Stock Performance

BSY opened at $39.70 on Monday. The stock has a market cap of $11.58 billion, a P/E ratio of 35.77, a P/E/G ratio of 3.52 and a beta of 1.04. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a fifty day moving average price of $44.46 and a 200 day moving average price of $47.16. Bentley Systems, Incorporated has a 1 year low of $39.58 and a 1 year high of $57.19.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were paid a dividend of $0.07 per share. This is a positive change from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Wednesday, March 19th. Bentley Systems’s dividend payout ratio is presently 38.36%.

Wall Street Analysts Forecast Growth

BSY has been the topic of several research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research note on Tuesday, February 25th. JPMorgan Chase & Co. initiated coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target on the stock. Piper Sandler decreased their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $51.00 to $42.00 in a report on Friday, February 28th. Finally, Robert W. Baird reduced their target price on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.14.

Bentley Systems Company Profile

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.