Capital World Investors Takes $70.33 Million Position in Boyd Group Services Inc. $BGSI

Capital World Investors bought a new position in shares of Boyd Group Services Inc. (NYSE:BGSI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 441,480 shares of the company’s stock, valued at approximately $70,325,000. Capital World Investors owned 1.59% of Boyd Group Services at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BGSI. Louisbourg Investments Inc. purchased a new stake in shares of Boyd Group Services during the fourth quarter worth about $7,272,000. Cidel Asset Management Inc. purchased a new stake in shares of Boyd Group Services during the fourth quarter worth about $9,046,000. Addenda Capital Inc. purchased a new stake in shares of Boyd Group Services during the fourth quarter worth about $10,843,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Boyd Group Services during the fourth quarter worth about $29,216,000. Finally, Assetmark Inc. purchased a new stake in shares of Boyd Group Services during the fourth quarter worth about $59,000. 0.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BGSI has been the subject of a number of analyst reports. Stephens dropped their target price on shares of Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating for the company in a report on Tuesday, April 14th. Wall Street Zen lowered shares of Boyd Group Services from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.00.

Boyd Group Services Stock Performance

BGSI stock opened at $100.31 on Wednesday. The firm’s 50 day simple moving average is $114.51. Boyd Group Services Inc. has a 52-week low of $94.77 and a 52-week high of $183.10. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 151.98 and a beta of 0.71. The company has a quick ratio of 3.00, a current ratio of 3.14 and a debt-to-equity ratio of 0.54.

Boyd Group Services (NYSE:BGSI) last released its earnings results on Wednesday, May 13th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. Boyd Group Services had a net margin of 0.39% and a return on equity of 5.54%. As a group, sell-side analysts forecast that Boyd Group Services Inc. will post 3.85 earnings per share for the current fiscal year.

Boyd Group Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.156 per share. This represents a $0.62 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, March 31st. Boyd Group Services’s dividend payout ratio (DPR) is presently 68.18%.

About Boyd Group Services

Boyd Group Services Inc is a North American operator of collision repair centers that provides vehicle repair, paint and refinishing, and auto glass replacement services. Its locations perform mechanical and cosmetic collision repairs, parts sourcing, and related warranty work, serving retail customers as well as business clients such as insurers and fleet operators. The company’s operations typically include estimating, repair planning, paint and body work, and post-repair quality assurance and customer service.

Headquartered in Winnipeg, Manitoba, Canada, Boyd Group Services operates across both Canada and the United States through a network of company-owned collision repair facilities under various local and regional brand names.