Boston Partners Sells 5,911 Shares of Civeo Co. (NYSE:CVEO)

Boston Partners trimmed its holdings in shares of Civeo Co. (NYSE:CVEO) by 4.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,336 shares of the business services provider’s stock after selling 5,911 shares during the period. Boston Partners owned about 0.89% of Civeo worth $3,500,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CVEO. TCW Group Inc. raised its stake in Civeo by 3.1% in the 4th quarter. TCW Group Inc. now owns 744,535 shares of the business services provider’s stock valued at $17,013,000 after acquiring an additional 22,639 shares during the period. Wellington Management Group LLP raised its stake in Civeo by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 450,100 shares of the business services provider’s stock valued at $10,285,000 after acquiring an additional 4,100 shares during the period. Brown Advisory Inc. raised its stake in Civeo by 13.4% in the 4th quarter. Brown Advisory Inc. now owns 358,097 shares of the business services provider’s stock valued at $8,183,000 after acquiring an additional 42,378 shares during the period. Acadian Asset Management LLC raised its stake in Civeo by 242.5% in the 1st quarter. Acadian Asset Management LLC now owns 143,189 shares of the business services provider’s stock valued at $3,837,000 after acquiring an additional 101,378 shares during the period. Finally, Hillsdale Investment Management Inc. raised its stake in Civeo by 2,074.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 139,189 shares of the business services provider’s stock valued at $3,737,000 after acquiring an additional 132,789 shares during the period. 81.44% of the stock is currently owned by institutional investors.

Civeo Price Performance

Shares of CVEO traded up $0.03 during midday trading on Friday, hitting $27.14. 41,999 shares of the company traded hands, compared to its average volume of 33,146. The stock has a 50-day moving average of $24.31 and a 200-day moving average of $24.29. Civeo Co. has a one year low of $17.98 and a one year high of $28.00. The firm has a market cap of $390.00 million, a P/E ratio of 12.86 and a beta of 2.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.55 and a quick ratio of 1.74.

Civeo (NYSE:CVEO) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.35. Civeo had a return on equity of 4.75% and a net margin of 4.95%. The firm had revenue of $188.71 million for the quarter, compared to analysts’ expectations of $173.70 million. During the same period in the prior year, the business posted $0.30 earnings per share. As a group, sell-side analysts predict that Civeo Co. will post -0.3 EPS for the current fiscal year.

Civeo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, August 26th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Monday, August 26th. Civeo’s payout ratio is 47.39%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on CVEO shares. StockNews.com upgraded Civeo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 20th. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 price target (up from $31.00) on shares of Civeo in a research report on Wednesday.

Civeo Profile

Civeo Corporation provides hospitality services to the natural resource industry in Canada, Australia, and the United States. The company develops lodges and villages; and mobile assets, including modular, skid-mounted accommodation, and central facilities that provide short to medium-term accommodation needs.