William Blair Investment Management LLC lowered its position in The Brink’s Company (NYSE:BCO – Free Report) by 15.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,628,323 shares of the business services provider’s stock after selling 662,925 shares during the period. Brink’s comprises about 0.8% of William Blair Investment Management LLC’s investment portfolio, making the stock its 24th biggest holding. William Blair Investment Management LLC owned 7.82% of Brink’s worth $246,109,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its holdings in shares of Brink’s by 1.4% in the third quarter. Thrivent Financial for Lutherans now owns 12,504 shares of the business services provider’s stock worth $606,000 after acquiring an additional 167 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Brink’s by 8.8% during the third quarter. Public Employees Retirement System of Ohio now owns 2,206 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 179 shares during the period. Cim Investment Management Inc. grew its holdings in Brink’s by 3.6% during the first quarter. Cim Investment Management Inc. now owns 5,229 shares of the business services provider’s stock valued at $349,000 after purchasing an additional 180 shares during the period. Vise Technologies Inc. grew its holdings in Brink’s by 6.6% during the second quarter. Vise Technologies Inc. now owns 3,342 shares of the business services provider’s stock valued at $227,000 after purchasing an additional 208 shares during the period. Finally, US Bancorp DE grew its holdings in Brink’s by 69.1% during the second quarter. US Bancorp DE now owns 646 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 264 shares during the period. Institutional investors own 94.96% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on BCO shares. The Goldman Sachs Group boosted their price objective on Brink’s from $81.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. StockNews.com upgraded Brink’s from a “buy” rating to a “strong-buy” rating in a research report on Monday, October 30th.
Insider Buying and Selling at Brink’s
In other Brink’s news, Director Arthelbert Louis Parker sold 1,650 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $74.00, for a total transaction of $122,100.00. Following the sale, the director now directly owns 3,036 shares in the company, valued at $224,664. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.65% of the company’s stock.
Brink’s Price Performance
Shares of NYSE:BCO traded up $0.71 during mid-day trading on Monday, reaching $78.16. The stock had a trading volume of 46,232 shares, compared to its average volume of 208,479. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 5.48. The company has a market cap of $3.52 billion, a P/E ratio of 26.33 and a beta of 1.36. The Brink’s Company has a 1 year low of $52.63 and a 1 year high of $78.28. The business’s 50 day moving average price is $72.10 and its 200 day moving average price is $70.78.
Brink’s (NYSE:BCO – Get Free Report) last posted its earnings results on Tuesday, November 7th. The business services provider reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.13. Brink’s had a return on equity of 49.69% and a net margin of 2.90%. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same period in the previous year, the business earned $1.34 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts expect that The Brink’s Company will post 6.81 EPS for the current fiscal year.
Brink’s Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Monday, November 6th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.88 dividend on an annualized basis and a yield of 1.13%. Brink’s’s dividend payout ratio (DPR) is presently 29.73%.
Brink’s declared that its board has approved a share repurchase plan on Thursday, November 2nd that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 15.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
The Brink's Company provides secure transportation, cash management, and other security-related services in North America, Latin America, Europe, and internationally. The company offers armored vehicle transportation of valuables; automated teller machine (ATM) management services, such as cash replenishment, cash forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first and second line maintenance services; and cash-in-transit services.
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