Colony Group LLC Has $4.78 Million Stake in Brink’s (NYSE:BCO)
Colony Group LLC raised its stake in shares of Brink’s (NYSE:BCO) by 1.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 52,689 shares of the business services provider’s stock after purchasing an additional 642 shares during the period. Colony Group LLC owned approximately 0.11% of Brink’s worth $4,778,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Brink’s by 84.6% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 923 shares of the business services provider’s stock worth $66,000 after purchasing an additional 423 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Brink’s during the 4th quarter worth approximately $2,026,000. Bank of America Corp DE lifted its position in shares of Brink’s by 2.3% during the 4th quarter. Bank of America Corp DE now owns 336,010 shares of the business services provider’s stock worth $30,469,000 after buying an additional 7,600 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Brink’s during the 4th quarter worth approximately $88,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Brink’s by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 571,796 shares of the business services provider’s stock worth $51,851,000 after buying an additional 22,753 shares during the last quarter.
In other Brink’s news, CEO Douglas A. Pertz bought 15,000 shares of Brink’s stock in a transaction dated Tuesday, March 3rd. The stock was purchased at an average price of $80.38 per share, for a total transaction of $1,205,700.00. Following the completion of the purchase, the chief executive officer now directly owns 388,495 shares of the company’s stock, valued at $31,227,228.10. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Raphael J. Shemanski purchased 1,000 shares of the stock in a transaction dated Thursday, March 5th. The stock was acquired at an average cost of $79.50 per share, for a total transaction of $79,500.00. The disclosure for this purchase can be found here. Insiders have bought a total of 19,500 shares of company stock worth $1,543,615 in the last ninety days. Insiders own 1.05% of the company’s stock.
Brink’s (NYSE:BCO) last posted its quarterly earnings data on Thursday, February 6th. The business services provider reported $1.18 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.07). Brink’s had a net margin of 0.77% and a return on equity of 100.74%. The firm had revenue of $935.80 million during the quarter, compared to analysts’ expectations of $953.29 million. During the same quarter in the previous year, the company posted $1.05 EPS. Brink’s’s revenue for the quarter was up 3.1% on a year-over-year basis. Equities analysts expect that Brink’s will post 4.4 EPS for the current fiscal year.
Brink’s announced that its Board of Directors has initiated a stock buyback program on Thursday, February 6th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the business services provider to reacquire up to 6.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Friday, February 7th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $0.60 annualized dividend and a dividend yield of 1.20%. Brink’s’s payout ratio is presently 15.42%.
Several equities analysts have recently issued reports on BCO shares. Goldman Sachs Group started coverage on Brink’s in a research report on Wednesday, November 27th. They set a “buy” rating and a $108.00 price target for the company. Buckingham Research boosted their price objective on Brink’s from $105.00 to $116.00 and gave the stock an “in-line” rating in a research report on Wednesday, January 8th. They noted that the move was a valuation call. SunTrust Banks restated a “buy” rating and issued a $115.00 price objective on shares of Brink’s in a research note on Friday, January 17th. Zacks Investment Research cut Brink’s from a “hold” rating to a “sell” rating in a research note on Monday, February 10th. Finally, ValuEngine upgraded Brink’s from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $111.00.
The Brink's Company provides secure transportation, cash management, and other security-related services in North America, South America, and internationally. The company offers cash-in-transit services, including armored vehicle transportation of valuables; automated teller machine (ATM) services, such as cash replenishment, replenishment forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first and second line maintenance; and network infrastructure services.
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