Dixon Mitchell Investment Counsel Inc. Invests $98.98 Million in Boyd Group Services Inc. $BGSI

Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Boyd Group Services Inc. (NYSE:BGSI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 620,108 shares of the company’s stock, valued at approximately $98,976,000. Boyd Group Services makes up 3.3% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 12th largest holding. Dixon Mitchell Investment Counsel Inc. owned about 2.23% of Boyd Group Services as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company bought a new stake in shares of Boyd Group Services in the fourth quarter worth $43,571,000. CANADA LIFE ASSURANCE Co bought a new stake in shares of Boyd Group Services in the fourth quarter worth $861,000. Public Sector Pension Investment Board bought a new stake in shares of Boyd Group Services in the fourth quarter worth $262,000. Charles Schwab Investment Management Inc. bought a new stake in shares of Boyd Group Services in the fourth quarter worth $11,700,000. Finally, Langdon Equity Partners bought a new stake in shares of Boyd Group Services in the fourth quarter worth $2,091,000. 0.17% of the stock is currently owned by institutional investors and hedge funds.

Boyd Group Services Price Performance

BGSI stock opened at $95.40 on Friday. The company has a market cap of $2.66 billion, a PE ratio of 144.55 and a beta of 0.71. The stock’s 50-day moving average is $112.72. 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 Inc. has a 1 year low of $93.59 and a 1 year high of $183.10.

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, topping analysts’ consensus estimates of $0.56 by $0.02. Boyd Group Services had a net margin of 0.39% and a return on equity of 5.54%. On average, analysts anticipate that Boyd Group Services Inc. will post 3.85 earnings per share for the current fiscal year.

Boyd Group Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Tuesday, March 31st were issued a $0.156 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, March 31st. Boyd Group Services’s dividend payout ratio is currently 68.18%.

Analyst Ratings Changes

Several brokerages recently weighed in on BGSI. Stephens reduced their price objective on shares of Boyd Group Services from $200.00 to $157.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 14th. Wall Street Zen cut shares of Boyd Group Services from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” 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.