Summit Global Investments Takes $1.02 Million Position in Bristow Group Inc. $VTOL

Summit Global Investments bought a new stake in Bristow Group Inc. (NYSE:VTOL) in the 1st quarter, according to its most recent filing with the SEC. The fund bought 21,828 shares of the company’s stock, valued at approximately $1,024,000. Summit Global Investments owned 0.07% of Bristow Group at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in VTOL. Raymond James Financial Inc. purchased a new position in Bristow Group in the second quarter valued at $25,000. Clearstead Advisors LLC boosted its stake in shares of Bristow Group by 1,450.7% during the 4th quarter. Clearstead Advisors LLC now owns 1,070 shares of the company’s stock worth $39,000 after acquiring an additional 1,001 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Bristow Group by 1,645.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,117 shares of the company’s stock worth $41,000 after acquiring an additional 1,053 shares in the last quarter. Strs Ohio purchased a new stake in shares of Bristow Group during the 1st quarter worth about $61,000. Finally, Wolverine Asset Management LLC grew its position in shares of Bristow Group by 121.4% during the 4th quarter. Wolverine Asset Management LLC now owns 1,824 shares of the company’s stock valued at $67,000 after acquiring an additional 1,000 shares during the period. 93.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on VTOL. Zacks Research upgraded Bristow Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Bristow Group in a research report on Friday, May 29th. Finally, Wall Street Zen lowered Bristow Group from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Bristow Group currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Bristow Group Stock Performance

NYSE:VTOL opened at $45.20 on Wednesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.79 and a current ratio of 2.15. The stock has a market capitalization of $1.34 billion, a PE ratio of 11.77 and a beta of 1.23. Bristow Group Inc. has a fifty-two week low of $32.76 and a fifty-two week high of $50.38. The company has a fifty day moving average of $42.60 and a two-hundred day moving average of $44.07.

Bristow Group (NYSE:VTOL) last announced its earnings results on Tuesday, May 5th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.57). The company had revenue of $388.71 million during the quarter, compared to analyst estimates of $383.68 million. Bristow Group had a net margin of 7.51% and a return on equity of 11.10%. As a group, research analysts forecast that Bristow Group Inc. will post 3.87 earnings per share for the current fiscal year.

Bristow Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.1%. The ex-dividend date was Friday, May 15th. Bristow Group’s payout ratio is presently 13.02%.

About Bristow Group

Bristow Group Inc is a global provider of helicopter services to the offshore energy industry and search-and-rescue (SAR) operations worldwide. The company specializes in the safe and efficient transport of personnel, equipment and supplies to offshore oil and gas platforms, as well as emergency response and medevac services. Bristow’s operations support exploration, production and decommissioning activities, helping energy companies maintain continuity of production in some of the world’s most challenging environments.

The company maintains a diverse fleet of turbine-powered helicopters, including medium- and heavy-lift aircraft such as the Sikorsky S-92, Airbus H225 (formerly EC225) and Leonardo AW189.