SEB Asset Management AB Invests $2.59 Million in Boyd Group Services Inc. $BGSI

SEB Asset Management AB purchased a new position in Boyd Group Services Inc. (NYSE:BGSI) in the first quarter, Holdings Channel reports. The fund purchased 20,386 shares of the company’s stock, valued at approximately $2,594,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swiss National Bank raised its stake in Boyd Group Services by 3.6% during the first quarter. Swiss National Bank now owns 55,400 shares of the company’s stock valued at $7,062,000 after buying an additional 1,900 shares in the last quarter. Assetmark Inc. grew its position in shares of Boyd Group Services by 23.5% in the 1st quarter. Assetmark Inc. now owns 457 shares of the company’s stock worth $58,000 after acquiring an additional 87 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Boyd Group Services by 5.7% in the 1st quarter. Principal Financial Group Inc. now owns 413,018 shares of the company’s stock valued at $52,654,000 after acquiring an additional 22,448 shares during the last quarter. Montrusco Bolton Investments Inc. bought a new stake in shares of Boyd Group Services in the 1st quarter valued at approximately $35,658,000. Finally, Louisbourg Investments Inc. raised its position in shares of Boyd Group Services by 10.3% during the 1st quarter. Louisbourg Investments Inc. now owns 51,234 shares of the company’s stock valued at $6,417,000 after acquiring an additional 4,778 shares in the last quarter. 0.17% of the stock is owned by institutional investors.

Boyd Group Services Trading Down 1.7%

Shares of NYSE BGSI opened at $101.10 on Friday. Boyd Group Services Inc. has a 12-month low of $88.97 and a 12-month high of $183.10. The firm has a market capitalization of $2.81 billion, a P/E ratio of 153.19 and a beta of 0.76. The business’s 50 day simple moving average is $99.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.46 and a current ratio of 0.60.

Boyd Group Services (NYSE:BGSI) last posted its earnings results on Wednesday, May 13th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.56 by $0.02. Boyd Group Services had a return on equity of 4.90% and a net margin of 0.39%. 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 declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Tuesday, June 30th will be paid a $0.156 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.62 annualized dividend and a dividend yield of 0.6%. Boyd Group Services’s dividend payout ratio is presently 66.67%.

Analyst Ratings Changes

Several brokerages recently issued reports on BGSI. Zacks Research cut Boyd Group Services from a “hold” rating to a “strong sell” rating in a research note on Monday, June 29th. Wall Street Zen lowered shares of Boyd Group Services from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Boyd Group Services in a report on Wednesday, June 24th. Finally, Stephens reduced their price target on shares of Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $157.00.

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.