354,710 Shares in Boyd Group Services Inc. $BGSI Acquired by Norges Bank

Norges Bank acquired a new position in shares of Boyd Group Services Inc. (NYSE:BGSI) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 354,710 shares of the company’s stock, valued at approximately $56,502,000. Norges Bank owned approximately 1.27% of Boyd Group Services as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. acquired a new stake in Boyd Group Services in the fourth quarter worth about $59,000. Pictet Asset Management Holding SA bought a new stake in shares of Boyd Group Services during the 4th quarter valued at $774,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Boyd Group Services in the 4th quarter worth $1,268,000. K.J. Harrison & Partners Inc acquired a new stake in shares of Boyd Group Services during the fourth quarter worth $1,882,000. Finally, UBS Group AG acquired a new stake in shares of Boyd Group Services during the fourth quarter worth $2,071,000. 0.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Boyd Group Services Trading Up 0.0%

NYSE:BGSI opened at $103.12 on Monday. The company has a market capitalization of $2.87 billion, a PE ratio of 156.24 and a beta of 0.71. Boyd Group Services Inc. has a 1-year low of $94.77 and a 1-year high of $183.10. The firm has a fifty day moving average price of $115.66. 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 quarterly earnings data 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 return on equity of 5.54% and a net margin of 0.39%. On average, equities analysts predict that Boyd Group Services Inc. will post 3.85 earnings per share for the current fiscal year.

Boyd Group Services Announces Dividend

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