Engineers Gate Manager LP purchased a new stake in shares of Brink’s (NYSE:BCO) in the second quarter, HoldingsChannel reports. The institutional investor purchased 7,661 shares of the business services provider’s stock, valued at approximately $611,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in Brink’s by 498.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,477 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 1,230 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new position in Brink’s during the 1st quarter valued at approximately $132,000. Fortaleza Asset Management Inc. bought a new position in shares of Brink’s in the 2nd quarter worth approximately $192,000. World Asset Management Inc bought a new position in shares of Brink’s in the 2nd quarter worth approximately $200,000. Finally, Silvant Capital Management LLC bought a new position in shares of Brink’s in the 1st quarter worth approximately $190,000. 96.46% of the stock is owned by institutional investors and hedge funds.
In related news, insider Michael F. Beech sold 4,625 shares of the firm’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $78.67, for a total transaction of $363,848.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Amit Zukerman sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $79.41, for a total value of $397,050.00. The disclosure for this sale can be found here. Insiders sold a total of 38,280 shares of company stock valued at $3,038,059 in the last three months. Corporate insiders own 2.48% of the company’s stock.
Shares of NYSE:BCO opened at $77.45 on Monday. Brink’s has a 52-week low of $67.57 and a 52-week high of $88.10. The company has a market capitalization of $4.04 billion, a PE ratio of 25.56, a PEG ratio of 1.16 and a beta of 1.77. The company has a debt-to-equity ratio of 4.63, a current ratio of 1.79 and a quick ratio of 1.79.
Brink’s (NYSE:BCO) last announced its earnings results on Wednesday, July 25th. The business services provider reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.05. Brink’s had a positive return on equity of 46.24% and a negative net margin of 3.39%. The firm had revenue of $850.00 million during the quarter, compared to analyst estimates of $795.75 million. During the same quarter in the prior year, the company earned $0.64 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. equities research analysts forecast that Brink’s will post 3.53 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Stockholders of record on Friday, July 27th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Thursday, July 26th. Brink’s’s dividend payout ratio is currently 19.80%.
BCO has been the subject of several research reports. Zacks Investment Research lowered Brink’s from a “buy” rating to a “hold” rating in a research report on Tuesday, June 5th. ValuEngine raised Brink’s from a “hold” rating to a “buy” rating in a research report on Friday, June 1st. Buckingham Research increased their target price on Brink’s from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, May 31st. Finally, TheStreet lowered Brink’s from a “b-” rating to a “c” rating in a research report on Wednesday, August 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $96.80.
Brink’s Company Profile
The Brink's Company provides secure transportation, cash management, and other security-related services worldwide. 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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