Brink’s Company (The) $BCO Shares Bought by LSV Asset Management

LSV Asset Management raised its position in Brink’s Company (The) (NYSE:BCO) by 16.3% in the 3rd quarter, Holdings Channel reports. The fund owned 1,256,385 shares of the business services provider’s stock after acquiring an additional 175,773 shares during the period. LSV Asset Management’s holdings in Brink’s were worth $146,821,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in BCO. Norges Bank acquired a new position in shares of Brink’s during the second quarter worth about $45,512,000. Simcoe Capital Management LLC purchased a new stake in Brink’s in the 2nd quarter valued at approximately $43,465,000. Fourth Sail Capital LP acquired a new position in Brink’s during the 2nd quarter worth approximately $25,135,000. Boston Partners raised its stake in shares of Brink’s by 80.3% during the 2nd quarter. Boston Partners now owns 548,366 shares of the business services provider’s stock worth $48,916,000 after buying an additional 244,242 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Brink’s by 100.6% during the 2nd quarter. First Trust Advisors LP now owns 405,199 shares of the business services provider’s stock worth $36,180,000 after buying an additional 203,251 shares in the last quarter. Hedge funds and other institutional investors own 94.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BCO. Weiss Ratings upgraded Brink’s from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. Truist Financial raised their target price on Brink’s from $138.00 to $163.00 and gave the company a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $163.00.

Insider Activity at Brink’s

In related news, insider Michael E. Sweeney sold 1,418 shares of Brink’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $119.50, for a total transaction of $169,451.00. Following the completion of the sale, the insider owned 5,755 shares in the company, valued at approximately $687,722.50. This trade represents a 19.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.49% of the stock is currently owned by insiders.

Brink’s Trading Down 0.7%

Shares of Brink’s stock opened at $130.59 on Thursday. Brink’s Company has a 1 year low of $80.10 and a 1 year high of $133.62. The company has a debt-to-equity ratio of 9.14, a current ratio of 1.46 and a quick ratio of 1.46. The business has a 50 day moving average price of $122.35 and a 200 day moving average price of $114.86. The company has a market capitalization of $5.43 billion, a P/E ratio of 33.40 and a beta of 1.09.

Brink’s Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Monday, February 2nd will be given a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, February 2nd. Brink’s’s dividend payout ratio is currently 26.09%.

Brink’s announced that its Board of Directors has approved a share repurchase program on Thursday, December 11th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the business services provider to purchase up to 15.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Brink’s Profile

The Brink’s Company (NYSE: BCO) is a global leader in secure logistics and cash management solutions. The company provides a comprehensive suite of services that span armored transportation, cash-in-transit (CIT), ATM services, smart safe solutions, and valuables storage. Through its network of service centers and armored vehicles, Brink’s ensures the safe and efficient movement of currency, precious metals, and other high-value assets for banks, retailers, mints, and government agencies.

Brink’s armored transport operations are complemented by technology-driven cash management offerings, including deposit automation and secure vaulting.