California Public Employees Retirement System raised its position in shares of Bristow Group Inc. (NYSE:BRS) by 29.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 156,400 shares of the company’s stock after buying an additional 35,200 shares during the period. California Public Employees Retirement System owned approximately 0.45% of Bristow Group worth $1,784,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in BRS. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in Bristow Group during the first quarter valued at $931,000. Ngam Advisors L.P. increased its stake in Bristow Group by 7.8% in the first quarter. Ngam Advisors L.P. now owns 93,813 shares of the company’s stock valued at $1,775,000 after buying an additional 6,777 shares during the last quarter. Prudential Financial Inc. increased its stake in Bristow Group by 171.8% in the first quarter. Prudential Financial Inc. now owns 1,159,606 shares of the company’s stock valued at $21,940,000 after buying an additional 733,000 shares during the last quarter. BlackRock Fund Advisors increased its stake in Bristow Group by 1.4% in the first quarter. BlackRock Fund Advisors now owns 2,368,139 shares of the company’s stock valued at $44,805,000 after buying an additional 32,136 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Bristow Group by 41.7% in the first quarter. JPMorgan Chase & Co. now owns 200,404 shares of the company’s stock valued at $3,792,000 after buying an additional 58,933 shares during the last quarter.
Bristow Group Inc. (NYSE:BRS) traded down 3.86% on Friday, reaching $13.44. The company’s stock had a trading volume of 957,568 shares. The firm’s market capitalization is $471.25 million. The firm has a 50-day moving average price of $12.26 and a 200 day moving average price of $14.58. Bristow Group Inc. has a 52-week low of $9.17 and a 52-week high of $37.19.
Bristow Group (NYSE:BRS) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by $0.21. Bristow Group had a negative net margin of 6.50% and a positive return on equity of 1.16%. The firm earned $356.10 million during the quarter, compared to the consensus estimate of $383.79 million. During the same quarter last year, the firm posted $0.56 earnings per share. Bristow Group’s revenue was down 20.9% compared to the same quarter last year. Equities analysts anticipate that Bristow Group Inc. will post ($1.76) earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a $0.07 dividend. The ex-dividend date was Tuesday, August 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.08%. Bristow Group’s dividend payout ratio (DPR) is -9.30%.
Several equities research analysts have recently weighed in on BRS shares. Credit Suisse Group AG reissued a “hold” rating and issued a $15.00 price objective on shares of Bristow Group in a report on Wednesday, June 29th. Zacks Investment Research upgraded Bristow Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Capital One Financial Corp. cut Bristow Group from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, August 16th. Finally, Cowen and Company cut their price target on Bristow Group from $18.00 to $14.00 and set an “outperform” rating for the company in a research note on Thursday, September 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $19.44.
In related news, insider Jonathan Baliff acquired 8,200 shares of Bristow Group stock in a transaction that occurred on Monday, August 15th. The stock was acquired at an average price of $12.12 per share, for a total transaction of $99,384.00. Following the transaction, the insider now directly owns 50,998 shares of the company’s stock, valued at approximately $618,095.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Chet Akiri acquired 5,565 shares of Bristow Group stock in a transaction that occurred on Monday, August 29th. The shares were bought at an average price of $11.62 per share, with a total value of $64,665.30. Following the transaction, the insider now directly owns 5,565 shares in the company, valued at $64,665.30. The disclosure for this purchase can be found here. 9.60% of the stock is owned by insiders.
Bristow Group Company Profile
Bristow Group Inc is an industrial aviation services provider and helicopter service provider to the offshore energy industry. The Industrial Aviation Services segment’s operations are conducted primarily through four regions: Europe Caspian, Africa, Americas and Asia Pacific. The Europe Caspian region consists of all its operations and affiliates in Europe and Central Asia, including Norway, the United Kingdom and Turkmenistan.
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