Rhumbline Advisers Reduces Stake in Brink’s Company (The) (BCO)
Rhumbline Advisers lowered its position in Brink’s Company (The) (NYSE:BCO) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,954 shares of the business services provider’s stock after selling 284 shares during the period. Rhumbline Advisers owned about 0.20% of Brink’s Company (The) worth $6,764,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of BCO. Bank of New York Mellon Corp raised its stake in shares of Brink’s Company (The) by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 632,066 shares of the business services provider’s stock worth $33,785,000 after buying an additional 28,648 shares in the last quarter. Point View Wealth Management Inc. increased its position in shares of Brink’s Company (The) by 15.7% in the first quarter. Point View Wealth Management Inc. now owns 6,546 shares of the business services provider’s stock valued at $350,000 after buying an additional 887 shares during the last quarter. Capital Fund Management S.A. bought a new position in shares of Brink’s Company (The) during the first quarter valued at approximately $951,000. Eos Focused Equity Management L.P. bought a new position in shares of Brink’s Company (The) during the first quarter valued at approximately $2,294,000. Finally, FTB Advisors Inc. bought a new position in shares of Brink’s Company (The) during the first quarter valued at approximately $184,000. Institutional investors and hedge funds own 89.74% of the company’s stock.
Brink’s Company (NYSE:BCO) opened at 75.30 on Monday. Brink’s Company has a one year low of $33.99 and a one year high of $81.35. The firm has a market capitalization of $3.80 billion, a P/E ratio of 44.82 and a beta of 1.71. The firm’s 50-day moving average price is $74.18 and its 200 day moving average price is $62.40.
Brink’s Company (The) (NYSE:BCO) last announced its earnings results on Wednesday, July 26th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.18. The firm had revenue of $806 million for the quarter, compared to analysts’ expectations of $730.87 million. Brink’s Company (The) had a net margin of 2.73% and a return on equity of 34.49%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. On average, equities analysts anticipate that Brink’s Company will post $3.02 earnings per share for the current fiscal year.
The firm also recently announced 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 0.80%. The ex-dividend date of this dividend is Tuesday, July 25th. Brink’s Company (The)’s dividend payout ratio is 35.71%.
Brink’s Company (The) announced that its Board of Directors has initiated a stock repurchase plan on Monday, May 8th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the business services provider to repurchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
BCO has been the topic of several recent research reports. Imperial Capital lifted their target price on Brink’s Company (The) from $52.00 to $65.00 and gave the stock an “in-line” rating in a report on Thursday, May 25th. Zacks Investment Research raised Brink’s Company (The) from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Tuesday, May 2nd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $64.00.
In other news, CAO Mcalister C. Marshall II sold 4,848 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $77.67, for a total transaction of $376,544.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter A. Feld sold 400,000 shares of the company’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $63.27, for a total transaction of $25,308,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,289,415 shares of company stock worth $88,214,694 over the last 90 days. 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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