Tortoise Investment Management LLC Has $78,000 Stock Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Tortoise Investment Management LLC lifted its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 76.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,675 shares of the company’s stock after acquiring an additional 728 shares during the period. Tortoise Investment Management LLC’s holdings in Bentley Systems were worth $78,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BSY. Johnson Investment Counsel Inc. raised its holdings in Bentley Systems by 16.4% during the 4th quarter. Johnson Investment Counsel Inc. now owns 81,863 shares of the company’s stock worth $3,823,000 after buying an additional 11,560 shares during the period. Machina Capital S.A.S. raised its holdings in Bentley Systems by 23.8% during the 4th quarter. Machina Capital S.A.S. now owns 13,166 shares of the company’s stock worth $615,000 after buying an additional 2,533 shares during the period. Arizona State Retirement System raised its holdings in Bentley Systems by 2.1% during the 4th quarter. Arizona State Retirement System now owns 46,398 shares of the company’s stock worth $2,167,000 after buying an additional 943 shares during the period. Aigen Investment Management LP raised its holdings in Bentley Systems by 636.8% during the 4th quarter. Aigen Investment Management LP now owns 32,876 shares of the company’s stock worth $1,535,000 after buying an additional 28,414 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in Bentley Systems during the 4th quarter worth approximately $809,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

Bentley Systems Price Performance

NASDAQ:BSY opened at $41.14 on Tuesday. Bentley Systems, Incorporated has a 1-year low of $40.98 and a 1-year high of $57.19. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm has a fifty day simple moving average of $45.84 and a 200 day simple moving average of $47.97. The stock has a market capitalization of $12.00 billion, a PE ratio of 37.06, a P/E/G ratio of 3.52 and a beta of 1.04.

Bentley Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Wednesday, March 19th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.68%. Bentley Systems’s dividend payout ratio (DPR) is currently 38.36%.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 69,573 shares of Bentley Systems stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the transaction, the director now directly owns 16,705,028 shares of the company’s stock, valued at $779,623,656.76. The trade was a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 21.12% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of Bentley Systems from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. Piper Sandler decreased their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Robert W. Baird decreased their price target on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Oppenheimer cut shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus target price of $56.14.

About Bentley Systems

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.