Foundry Partners LLC Has $6.27 Million Stake in Brink’s Company (The) (NYSE:BCO)
Foundry Partners LLC reduced its position in Brink’s Company (The) (NYSE:BCO) by 62.3% during the second quarter, Holdings Channel reports. The institutional investor owned 93,642 shares of the business services provider’s stock after selling 154,993 shares during the period. Foundry Partners LLC’s holdings in Brink’s Company (The) were worth $6,274,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Daiwa Securities Group Inc. bought a new position in shares of Brink’s Company (The) during the second quarter worth $114,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Brink’s Company (The) during the first quarter worth $153,000. Group One Trading L.P. bought a new position in shares of Brink’s Company (The) during the first quarter worth $160,000. FTB Advisors Inc. bought a new position in shares of Brink’s Company (The) during the first quarter worth $184,000. Finally, World Asset Management Inc bought 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.
Brink’s Company (BCO) opened at 76.05 on Friday. The stock has a market cap of $3.84 billion, a PE ratio of 45.27 and a beta of 1.71. Brink’s Company has a 52 week low of $33.99 and a 52 week high of $81.35. The company has a 50-day moving average price of $71.80 and a 200-day moving average price of $60.12.
Brink’s Company (The) (NYSE:BCO) last released its quarterly earnings data on Wednesday, July 26th. The business services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.18. The business had revenue of $806 million during the quarter, compared to the consensus estimate of $730.87 million. Brink’s Company (The) had a return on equity of 34.49% and a net margin of 2.73%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 earnings per share. Analysts anticipate that Brink’s Company will post $3.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Thursday, July 27th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, July 25th. This represents a $0.60 dividend on an annualized basis and a yield of 0.79%. Brink’s Company (The)’s dividend payout ratio is presently 35.71%.
Brink’s Company (The) announced that its board has approved a share repurchase plan on Monday, May 8th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the business services provider to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
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A number of brokerages recently weighed in on BCO. Imperial Capital raised Brink’s Company (The) from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $72.00 to $86.00 in a research note on Wednesday. Zacks Investment Research raised Brink’s Company (The) from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, May 2nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $64.00.
In related news, Director Peter A. Feld sold 475,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $65.17, for a total value of $30,955,750.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peter A. Feld sold 86,151 shares of the company’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $78.18, for a total value of $6,735,285.18. The disclosure for this sale can be found here. Insiders sold 1,089,725 shares of company stock valued at $72,969,347 in the last quarter. 10.40% of the stock is currently owned by corporate insiders.
About Brink’s Company (The)
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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