Allspring Global Investments Holdings LLC Reduces Stock Position in BrightView Holdings, Inc. (NYSE:BV)

Allspring Global Investments Holdings LLC trimmed its position in shares of BrightView Holdings, Inc. (NYSE:BV - Free Report) by 44.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 411,837 shares of the company's stock after selling 329,327 shares during the period. Allspring Global Investments Holdings LLC owned about 0.44% of BrightView worth $6,482,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BV. Driehaus Capital Management LLC acquired a new stake in shares of BrightView in the second quarter valued at approximately $13,086,000. Dimensional Fund Advisors LP boosted its holdings in shares of BrightView by 28.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,140,676 shares of the company's stock valued at $41,772,000 after acquiring an additional 695,987 shares during the period. Kennedy Capital Management LLC acquired a new stake in shares of BrightView in the first quarter valued at approximately $6,673,000. Roubaix Capital LLC acquired a new stake in shares of BrightView in the first quarter valued at approximately $3,518,000. Finally, Redmond Asset Management LLC acquired a new stake in shares of BrightView in the first quarter valued at approximately $2,281,000. 92.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BV shares. Loop Capital raised BrightView to a "strong-buy" rating in a report on Tuesday, July 30th. Jefferies Financial Group raised BrightView from a "hold" rating to a "buy" rating and increased their price target for the stock from $13.00 to $17.00 in a report on Wednesday, August 21st. The Goldman Sachs Group increased their price target on BrightView from $10.00 to $11.30 and gave the stock a "sell" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on BrightView from $11.00 to $14.00 and gave the stock an "underweight" rating in a report on Friday, August 2nd. Finally, Robert W. Baird raised BrightView from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $13.00 to $17.00 in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, BrightView currently has an average rating of "Moderate Buy" and a consensus target price of $15.47.

BrightView Price Performance

BrightView stock traded up $0.43 during midday trading on Monday, reaching $16.43. The company's stock had a trading volume of 255,673 shares, compared to its average volume of 631,949. BrightView Holdings, Inc. has a fifty-two week low of $6.58 and a fifty-two week high of $17.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.45 and a current ratio of 1.45. The stock's 50 day simple moving average is $15.70 and its 200 day simple moving average is $14.08. The firm has a market capitalization of $1.55 billion, a PE ratio of 80.00 and a beta of 1.29.

BrightView (NYSE:BV - Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. BrightView had a return on equity of 6.27% and a net margin of 2.06%. The company had revenue of $738.80 million during the quarter, compared to the consensus estimate of $736.94 million. During the same quarter last year, the company earned $0.40 earnings per share. BrightView's quarterly revenue was down 3.6% compared to the same quarter last year. On average, equities research analysts forecast that BrightView Holdings, Inc. will post 0.66 earnings per share for the current year.

BrightView Profile

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.