Redmont Wealth Advisors LLC Takes Position in Brink’s Company (The) $BCO

Redmont Wealth Advisors LLC purchased a new position in Brink’s Company (The) (NYSE:BCO) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,250 shares of the business services provider’s stock, valued at approximately $497,000.

A number of other hedge funds also recently bought and sold shares of BCO. Royal Bank of Canada increased its holdings in shares of Brink’s by 10.9% in the 1st quarter. Royal Bank of Canada now owns 54,678 shares of the business services provider’s stock worth $4,711,000 after buying an additional 5,359 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Brink’s by 3.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,098 shares of the business services provider’s stock worth $2,249,000 after acquiring an additional 852 shares during the last quarter. United Services Automobile Association purchased a new stake in Brink’s during the first quarter valued at approximately $257,000. CWM LLC lifted its stake in shares of Brink’s by 53.8% in the 2nd quarter. CWM LLC now owns 512 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 179 shares during the last quarter. Finally, Koshinski Asset Management Inc. purchased a new position in shares of Brink’s in the 2nd quarter worth approximately $258,000. Hedge funds and other institutional investors own 94.96% of the company’s stock.

Insider Activity at Brink’s

In related news, insider Michael E. Sweeney sold 1,418 shares of Brink’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $119.50, for a total value of $169,451.00. Following the sale, the insider directly owned 5,755 shares in the company, valued at approximately $687,722.50. The trade was a 19.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.49% of the stock is owned by corporate insiders.

Brink’s Stock Performance

Shares of Brink’s stock opened at $129.86 on Thursday. The firm has a market capitalization of $5.40 billion, a P/E ratio of 33.21 and a beta of 1.09. Brink’s Company has a 52 week low of $80.10 and a 52 week high of $133.62. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 9.14. The company has a 50 day moving average price of $123.78 and a 200 day moving average price of $116.32.

Brink’s announced that its board has initiated a share repurchase plan on Thursday, December 11th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the business services provider to purchase up to 15.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Brink’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 2nd will be given a $0.255 dividend. The ex-dividend date is Monday, February 2nd. This represents a $1.02 annualized dividend and a dividend yield of 0.8%. Brink’s’s dividend payout ratio (DPR) is 26.09%.

Analyst Upgrades and Downgrades

BCO has been the subject of a number of analyst reports. Truist Financial raised their price target on Brink’s from $138.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Weiss Ratings raised shares of Brink’s from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 24th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $163.00.

Brink’s Profile

The Brink’s Company (NYSE: BCO) is a global leader in secure logistics and cash management solutions. The company provides a comprehensive suite of services that span armored transportation, cash-in-transit (CIT), ATM services, smart safe solutions, and valuables storage. Through its network of service centers and armored vehicles, Brink’s ensures the safe and efficient movement of currency, precious metals, and other high-value assets for banks, retailers, mints, and government agencies.

Brink’s armored transport operations are complemented by technology-driven cash management offerings, including deposit automation and secure vaulting.