State of New Jersey Common Pension Fund D Has $2.51 Million Position in The Brink’s Company (NYSE:BCO)

State of New Jersey Common Pension Fund D cut its position in The Brink’s Company (NYSE:BCOGet Rating) by 12.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,856 shares of the business services provider’s stock after selling 5,411 shares during the period. State of New Jersey Common Pension Fund D owned about 0.08% of Brink’s worth $2,506,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BCO. Parkside Financial Bank & Trust raised its stake in Brink’s by 62.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 600 shares of the business services provider’s stock worth $39,000 after buying an additional 231 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Brink’s during the fourth quarter worth about $72,000. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Brink’s by 551.0% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,699 shares of the business services provider’s stock worth $111,000 after purchasing an additional 1,438 shares during the period. Strs Ohio lifted its holdings in shares of Brink’s by 111.1% during the 1st quarter. Strs Ohio now owns 1,900 shares of the business services provider’s stock valued at $129,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Brink’s during the 4th quarter worth approximately $170,000. 99.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Truist Financial cut their price target on shares of Brink’s from $96.00 to $78.00 in a research note on Monday. StockNews.com lowered shares of Brink’s from a “strong-buy” rating to a “buy” rating in a research note on Monday.

Brink’s Stock Down 1.5 %

NYSE:BCO opened at $56.08 on Tuesday. The stock has a 50-day simple moving average of $58.31 and a 200 day simple moving average of $62.95. The Brink’s Company has a 52-week low of $53.72 and a 52-week high of $80.43. The company has a market cap of $2.64 billion, a PE ratio of 16.99 and a beta of 1.29. The company has a debt-to-equity ratio of 8.01, a quick ratio of 1.53 and a current ratio of 1.53.

Brink’s (NYSE:BCOGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.21. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.09 billion. Brink’s had a net margin of 3.75% and a return on equity of 87.05%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.82 earnings per share. On average, sell-side analysts expect that The Brink’s Company will post 5.7 EPS for the current fiscal year.

Brink’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Monday, August 8th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Friday, August 5th. Brink’s’s dividend payout ratio is currently 24.24%.

Insider Activity at Brink’s

In related news, EVP Simon Davis purchased 8,500 shares of the firm’s stock in a transaction on Friday, June 10th. The stock was purchased at an average cost of $59.35 per share, for a total transaction of $504,475.00. Following the completion of the purchase, the executive vice president now directly owns 39,534 shares in the company, valued at $2,346,342.90. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.72% of the stock is owned by company insiders.

About Brink’s

(Get Rating)

The Brink's Company provides secure transportation, cash management, and other security-related services in North America, Latin America, Europe, and internationally. The company offers armored vehicle transportation of valuables; automated teller machine (ATM) management services, such as cash replenishment, replenishment forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first and second line maintenance services; network infrastructure; and cash-in-transit services.

Further Reading

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Institutional Ownership by Quarter for Brink's (NYSE:BCO)

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