Texas Permanent School Fund raised its position in Brink’s Company (The) (NYSE:BCO) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,109 shares of the business services provider’s stock after buying an additional 502 shares during the period. Texas Permanent School Fund’s holdings in Brink’s Company (The) were worth $2,218,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Daiwa Securities Group Inc. acquired a new position in shares of Brink’s Company (The) during the second quarter worth $114,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Brink’s Company (The) during the first quarter worth $153,000. Group One Trading L.P. acquired a new position in shares of Brink’s Company (The) during the first quarter worth $160,000. FTB Advisors Inc. acquired a new position in shares of Brink’s Company (The) during the first quarter worth $184,000. Finally, World Asset Management Inc acquired a new position in shares of Brink’s Company (The) during the second quarter worth $201,000. 89.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Brink’s Company (BCO) opened at 75.00 on Friday. 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 $71.52 and its 200-day moving average price is $59.89. The stock has a market capitalization of $3.79 billion, a P/E ratio of 44.64 and a beta of 1.71.
Brink’s Company (The) (NYSE:BCO) last posted its earnings results on Wednesday, July 26th. The business services provider reported $0.64 EPS for the quarter, beating the consensus estimate of $0.46 by $0.18. Brink’s Company (The) had a return on equity of 34.49% and a net margin of 2.73%. The firm had revenue of $806 million for the quarter, compared to analysts’ expectations of $730.87 million. During the same period last year, the firm earned $0.38 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. Equities analysts forecast that Brink’s Company will post $3.02 earnings per share for the current fiscal year.
Brink’s Company (The) declared that its Board of Directors has initiated a stock repurchase plan on Monday, May 8th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the business services provider to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, July 27th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.80%. The ex-dividend date is Tuesday, July 25th. Brink’s Company (The)’s dividend payout ratio is currently 35.71%.
A number of research analysts recently weighed in 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 objective on the stock in a report on Tuesday, May 2nd. Imperial Capital upped their price objective 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. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Brink’s Company (The) has a consensus rating of “Buy” and an average price target of $64.00.
In other news, Director Michael J. Herling sold 2,000 shares of Brink’s Company (The) stock in a transaction 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 transaction, the director now directly owns 2,980 shares in the company, valued at approximately $181,958.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Mcalister C. Marshall II sold 13,500 shares of Brink’s Company (The) stock in a transaction on Friday, August 4th. The shares were sold at an average price of $76.96, for a total value of $1,038,960.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,089,725 shares of company stock worth $72,969,347. 10.40% of the stock is owned by insiders.
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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