First Citizens Bank & Trust Co. Buys New Stake in Brink’s Co. (BCO)
First Citizens Bank & Trust Co. bought a new stake in shares of Brink’s Co. (NYSE:BCO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,482 shares of the company’s stock, valued at approximately $356,000.
Several other hedge funds and other institutional investors have also modified their holdings of BCO. Aperio Group LLC raised its position in shares of Brink’s by 23.2% in the first quarter. Aperio Group LLC now owns 12,408 shares of the company’s stock valued at $417,000 after buying an additional 2,339 shares during the period. Cutler Group LP raised its position in Brink’s by 69.9% in the first quarter. Cutler Group LP now owns 6,023 shares of the company’s stock valued at $202,000 after buying an additional 2,479 shares during the last quarter. HBK Investments L P raised its position in Brink’s by 41.4% in the first quarter. HBK Investments L P now owns 41,700 shares of the company’s stock valued at $1,401,000 after buying an additional 12,200 shares during the last quarter. BB&T Securities LLC raised its position in Brink’s by 26.5% in the first quarter. BB&T Securities LLC now owns 9,731 shares of the company’s stock valued at $326,000 after buying an additional 2,040 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its position in Brink’s by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,195,487 shares of the company’s stock valued at $40,156,000 after buying an additional 9,467 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.
Shares of Brink’s Co. (NYSE:BCO) traded up 0.33% on Tuesday, reaching $36.99. 606,276 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $36.47 and its 200-day moving average price is $32.94. The stock has a market cap of $1.83 billion, a P/E ratio of 1946.84 and a beta of 1.54. Brink’s Co. has a 52-week low of $25.87 and a 52-week high of $38.16.
Brink’s (NYSE:BCO) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.12. The business earned $739.50 million during the quarter, compared to the consensus estimate of $699.03 million. Brink’s had a net margin of 0.04% and a return on equity of 22.23%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.27 EPS. Equities analysts forecast that Brink’s Co. will post $2.00 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.08%. Brink’s’s payout ratio is 1,333.33%.
Several research analysts recently weighed in on BCO shares. Macquarie lifted their price objective on shares of Brink’s from $33.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, September 16th. Zacks Investment Research raised shares of Brink’s from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a research note on Wednesday, September 28th. Finally, Imperial Capital reissued an “in-line” rating and set a $31.50 price objective on shares of Brink’s in a research note on Friday, July 15th.
In related news, insider Amit Zukerman sold 10,518 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $36.69, for a total value of $385,905.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas Colan sold 935 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $37.70, for a total transaction of $35,249.50. The disclosure for this sale can be found here. 11.29% of the stock is currently owned by corporate insiders.
Brink’s Company Profile
The Brink’s Company (Brink’s) is a provider of logistics and security solutions. The Company’s solutions include cash-in-transit, automated teller machine (ATM) replenishment and maintenance, international transportation of valuables, cash management and payment services, to financial institutions, retailers, government agencies (including central banks), mints, jewelers and other commercial operations around the world.
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