Brink’s Company (The) (BCO) Position Boosted by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System increased its position in shares of Brink’s Company (The) (NYSE:BCO) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,500 shares of the business services provider’s stock after buying an additional 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Brink’s Company (The) were worth $1,240,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. raised its position in Brink’s Company (The) by 118,199.8% in the first quarter. BlackRock Inc. now owns 5,447,704 shares of the business services provider’s stock worth $291,179,000 after buying an additional 5,443,099 shares in the last quarter. Wells Fargo & Company MN raised its position in 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 worth $65,071,000 after buying an additional 1,167,765 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in Brink’s Company (The) during the second quarter worth approximately $40,125,000. Norges Bank bought a new position in Brink’s Company (The) during the fourth quarter worth approximately $19,681,000. Finally, Columbus Circle Investors bought a new position in Brink’s Company (The) during the first quarter worth approximately $24,173,000. Institutional investors and hedge funds own 89.47% of the company’s stock.
Brink’s Company (BCO) traded down 0.33% on Friday, reaching $75.80. 411,199 shares of the company’s stock traded hands. The firm has a market capitalization of $3.83 billion, a PE ratio of 45.12 and a beta of 1.71. Brink’s Company has a 52-week low of $33.99 and a 52-week high of $81.35. The firm’s 50 day moving average price is $73.13 and its 200 day moving average price is $61.26.
Brink’s Company (The) (NYSE:BCO) last issued its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 quarter in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, analysts predict that Brink’s Company will post $3.02 EPS for the current fiscal year.
Brink’s Company (The) declared that its Board of Directors has approved a stock buyback program on Monday, May 8th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the business services provider to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Thursday, July 27th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Tuesday, July 25th. Brink’s Company (The)’s dividend payout ratio is 35.71%.
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Several research analysts have issued reports on BCO shares. Imperial Capital lifted their price target on shares of Brink’s Company (The) from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Monday, July 17th. Zacks Investment Research upgraded shares of Brink’s Company (The) from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Tuesday, May 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Brink’s Company (The) currently has an average rating of “Buy” and an average price target of $64.00.
In related news, Director Peter A. Feld sold 400,000 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $63.27, for a total transaction of $25,308,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter A. Feld sold 475,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $65.17, for a total transaction of $30,955,750.00. The disclosure for this sale can be found here. Insiders have sold 1,214,415 shares of company stock valued at $82,535,694 in the last 90 days. 10.40% of the stock is currently owned by corporate insiders.
About Brink’s Company (The)
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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