Algert Global LLC Acquires New Position in Brink’s Company (The) (BCO)
Algert Global LLC acquired a new position in shares of Brink’s Company (The) (NYSE:BCO) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 15,636 shares of the business services provider’s stock, valued at approximately $1,048,000.
A number of other large investors also recently made changes to their positions in BCO. Great West Life Assurance Co. Can raised its stake in shares of Brink’s Company (The) by 7.0% in the first quarter. Great West Life Assurance Co. Can now owns 63,986 shares of the business services provider’s stock worth $3,417,000 after buying an additional 4,186 shares during the period. Wells Fargo & Company MN raised its stake in shares of Brink’s Company (The) by 2,351.9% in the first quarter. Wells Fargo & Company MN now owns 1,217,418 shares of the business services provider’s stock worth $65,071,000 after buying an additional 1,167,765 shares during the period. K.J. Harrison & Partners Inc bought a new stake in shares of Brink’s Company (The) during the first quarter worth about $4,195,000. Sawgrass Asset Management LLC bought a new stake in shares of Brink’s Company (The) during the first quarter worth about $818,000. Finally, First Mercantile Trust Co. bought a new stake in shares of Brink’s Company (The) during the first quarter worth about $465,000. 89.25% of the stock is owned by institutional investors and hedge funds.
Brink’s Company (NYSE:BCO) opened at 76.65 on Thursday. Brink’s Company has a 12-month low of $33.99 and a 12-month high of $81.35. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 45.63 and a beta of 1.71. The company has a 50 day moving average of $71.29 and a 200-day moving average of $59.78.
Brink’s Company (The) (NYSE:BCO) last posted its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.64 EPS for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $730.87 million. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts forecast that Brink’s Company will post $3.02 earnings per share for the current year.
Brink’s Company (The) declared that its board has approved a stock buyback plan on Monday, May 8th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the business services provider to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, July 27th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Tuesday, July 25th. Brink’s Company (The)’s dividend payout ratio is currently 35.71%.
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A number of brokerages have issued reports on BCO. Imperial Capital raised shares of Brink’s Company (The) from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $72.00 to $86.00 in a report on Wednesday. Zacks Investment Research raised shares of Brink’s Company (The) from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Tuesday, May 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $64.00.
In other news, insider Douglas A. Pertz acquired 9,600 shares of Brink’s Company (The) stock in a transaction that occurred on Friday, May 12th. The stock was purchased at an average cost of $61.00 per share, with a total value of $585,600.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Mcalister C. Marshall II sold 13,500 shares of 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 three months, insiders sold 1,089,725 shares of company stock valued at $72,969,347. 10.40% of the stock is owned by corporate 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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