Corient Private Wealth LP Acquires New Holdings in Bristow Group Inc. $VTOL

Corient Private Wealth LP bought a new stake in Bristow Group Inc. (NYSE:VTOL) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 34,638 shares of the company’s stock, valued at approximately $1,431,000.

A number of other institutional investors have also recently added to or reduced their stakes in VTOL. PNC Financial Services Group Inc. raised its holdings in shares of Bristow Group by 8.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,509 shares of the company’s stock valued at $211,000 after purchasing an additional 340 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Bristow Group by 1.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,886 shares of the company’s stock valued at $801,000 after purchasing an additional 368 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Bristow Group by 0.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 79,189 shares of the company’s stock worth $2,900,000 after purchasing an additional 402 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Bristow Group by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,592 shares of the company’s stock worth $461,000 after purchasing an additional 609 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in Bristow Group by 5.2% during the fourth quarter. Illinois Municipal Retirement Fund now owns 14,057 shares of the company’s stock worth $515,000 after buying an additional 689 shares during the last quarter. 93.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Lorin Brass sold 1,890 shares of Bristow Group stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $46.56, for a total value of $87,998.40. Following the transaction, the director directly owned 18,873 shares in the company, valued at approximately $878,726.88. The trade was a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Alternative Asset Manage Solus sold 12,045 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $45.68, for a total value of $550,215.60. Following the transaction, the insider directly owned 2,849,751 shares of the company’s stock, valued at $130,176,625.68. This represents a 0.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 40,584 shares of company stock valued at $1,864,317. 12.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Bristow Group Price Performance

NYSE VTOL opened at $43.80 on Friday. The company has a current ratio of 2.26, a quick ratio of 1.85 and a debt-to-equity ratio of 0.66. The company has a fifty day simple moving average of $44.63 and a 200 day simple moving average of $44.86. The company has a market cap of $1.30 billion, a P/E ratio of 12.62 and a beta of 1.19. Bristow Group Inc. has a 1 year low of $35.03 and a 1 year high of $50.38.

Bristow Group (NYSE:VTOL) last posted its earnings results on Tuesday, August 4th. The company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.19). The firm had revenue of $411.75 million during the quarter, compared to analyst estimates of $407.28 million. Bristow Group had a net margin of 6.66% and a return on equity of 9.82%. On average, sell-side analysts predict that Bristow Group Inc. will post 3.31 EPS for the current year.

Bristow Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, August 14th. Bristow Group’s dividend payout ratio (DPR) is currently 14.41%.

Bristow Group Profile

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.