Elo Mutual Pension Insurance Co Increases Holdings in Bentley Systems, Incorporated (NASDAQ:BSY)

Elo Mutual Pension Insurance Co increased its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 29.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,198 shares of the company’s stock after acquiring an additional 4,106 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Bentley Systems were worth $850,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Bentley Systems by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock valued at $49,161,000 after acquiring an additional 15,372 shares during the period. Proficio Capital Partners LLC bought a new position in Bentley Systems during the 4th quarter valued at about $809,000. Principal Financial Group Inc. raised its position in Bentley Systems by 20.5% in the 3rd quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock worth $10,396,000 after purchasing an additional 34,871 shares during the period. Bar Harbor Wealth Management bought a new stake in Bentley Systems in the fourth quarter worth about $8,413,000. Finally, Needham Investment Management LLC purchased a new position in shares of Bentley Systems during the third quarter valued at approximately $2,134,000. 44.16% of the stock is owned by institutional investors.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the transaction, the director now owns 16,703,876 shares in the company, valued at $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.12% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BSY has been the topic of several recent analyst reports. JPMorgan Chase & Co. began coverage on Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target on the stock. Piper Sandler reduced their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Oppenheimer lowered shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 27th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.14.

Bentley Systems Stock Performance

BSY stock opened at $39.70 on Monday. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems, Incorporated has a 1-year low of $39.58 and a 1-year high of $57.19. The business has a 50-day moving average price of $44.46 and a 200 day moving average price of $47.16. The company has a market capitalization of $11.58 billion, a P/E ratio of 35.77, a PEG ratio of 3.52 and a beta of 1.04.

Bentley Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Wednesday, March 19th. This is a boost from Bentley Systems’s previous quarterly dividend of $0.06. Bentley Systems’s dividend payout ratio is presently 38.36%.

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.