Wellington Management Group LLP Lowers Position in Brink’s Company (The) (NYSE:BCO)
Wellington Management Group LLP decreased its stake in Brink’s Company (The) (NYSE:BCO) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,250 shares of the business services provider’s stock after selling 1,400 shares during the period. Wellington Management Group LLP owned about 0.18% of Brink’s Company (The) worth $4,770,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in BCO. Wells Fargo & Company MN increased its position in shares of Brink’s Company (The) by 2,351.9% in the first quarter. Wells Fargo & Company MN now owns 1,217,418 shares of the business services provider’s stock valued at $65,071,000 after buying an additional 1,167,765 shares during the period. Norges Bank acquired a new position in shares of Brink’s Company (The) during the fourth quarter valued at $19,681,000. Columbus Circle Investors acquired a new position in shares of Brink’s Company (The) during the first quarter valued at $24,173,000. Pictet Asset Management Ltd. acquired a new position in shares of Brink’s Company (The) during the first quarter valued at $6,815,000. Finally, Nationwide Fund Advisors increased its position in shares of Brink’s Company (The) by 426.7% in the first quarter. Nationwide Fund Advisors now owns 147,138 shares of the business services provider’s stock valued at $7,865,000 after buying an additional 119,203 shares during the period. Hedge funds and other institutional investors own 88.87% of the company’s stock.
Shares of Brink’s Company (NYSE BCO) traded down 3.16% during mid-day trading on Friday, reaching $75.20. The company’s stock had a trading volume of 426,110 shares. Brink’s Company has a 52 week low of $33.45 and a 52 week high of $81.35. The company’s 50-day moving average is $69.56 and its 200-day moving average is $58.55. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 44.76 and a beta of 1.71.
Brink’s Company (The) (NYSE:BCO) last posted its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.18. Brink’s Company (The) had a net margin of 2.73% and a return on equity of 34.49%. The company had revenue of $806 million during the quarter, compared to the consensus estimate of $730.87 million. During the same period last year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts predict that Brink’s Company will post $3.02 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, July 27th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, July 25th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.80%. Brink’s Company (The)’s dividend payout ratio (DPR) is 35.71%.
Brink’s Company (The) announced that its board has approved a stock buyback program on Monday, May 8th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the business services provider to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
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A number of analysts have commented on BCO shares. Zacks Investment Research raised Brink’s Company (The) from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research report on Tuesday, May 2nd. Imperial Capital lifted their price target on Brink’s Company (The) from $52.00 to $65.00 and gave the stock an “in-line” rating in a research report on Thursday, May 25th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $59.33.
In other Brink’s Company (The) news, Director Peter A. Feld sold 475,000 shares of Brink’s Company (The) stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $65.17, for a total value of $30,955,750.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael J. Herling sold 2,000 shares of Brink’s Company (The) stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $61.06, for a total transaction of $122,120.00. Following the completion of the sale, the director now directly owns 2,980 shares of the company’s stock, valued at $181,958.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,063,660 shares of company stock valued at $70,949,696. Corporate insiders own 10.40% of the company’s stock.
Brink’s Company (The) Company Profile
The Brink’s Company (Brink’s) is a provider of logistics and security solutions. The Company operates through nine segments: U.S., France, Mexico, Brazil, Canada, Latin America, EMEA, Asia and Payment Services. The Company’s solutions include cash-in-transit (CIT), automated teller machine (ATM) replenishment and maintenance, cash management services, including vault outsourcing, money processing, and intelligent safe services, international transportation of valuables, and payment services.
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