Connable Office Inc. Lowers Stock Holdings in The Brink’s Company (NYSE:BCO)

Connable Office Inc. lowered its holdings in shares of The Brink’s Company (NYSE:BCO) by 17.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,405 shares of the business services provider’s stock after selling 495 shares during the quarter. Connable Office Inc.’s holdings in Brink’s were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Brink’s by 1.4% during the first quarter. Vanguard Group Inc. now owns 4,662,790 shares of the business services provider’s stock worth $430,749,000 after purchasing an additional 63,853 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Brink’s by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,006,620 shares of the business services provider’s stock valued at $103,079,000 after acquiring an additional 3,319 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in shares of Brink’s by 4.7% during the first quarter. Silvercrest Asset Management Group LLC now owns 928,887 shares of the business services provider’s stock valued at $85,811,000 after acquiring an additional 41,678 shares during the last quarter. LSV Asset Management raised its holdings in shares of Brink’s by 15,919.2% during the second quarter. LSV Asset Management now owns 800,961 shares of the business services provider’s stock valued at $82,018,000 after acquiring an additional 795,961 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Brink’s by 24.9% during the third quarter. New York State Common Retirement Fund now owns 252,617 shares of the business services provider’s stock valued at $29,213,000 after acquiring an additional 50,292 shares during the last quarter. Hedge funds and other institutional investors own 94.96% of the company’s stock.

Brink’s Price Performance

NYSE:BCO opened at $91.40 on Friday. The Brink’s Company has a one year low of $75.41 and a one year high of $115.91. The company has a debt-to-equity ratio of 8.76, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market cap of $3.99 billion, a PE ratio of 34.62 and a beta of 1.44. The stock has a 50 day moving average price of $107.09 and a 200 day moving average price of $103.66.

Brink’s (NYSE:BCO) last posted its quarterly earnings results on Wednesday, November 6th. The business services provider reported $1.51 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.28). Brink’s had a net margin of 2.37% and a return on equity of 71.46%. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the business posted $1.92 EPS. Brink’s’s revenue for the quarter was down 3.4% compared to the same quarter last year. Equities research analysts expect that The Brink’s Company will post 6.51 EPS for the current fiscal year.

Brink’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be paid a dividend of $0.2425 per share. The ex-dividend date is Monday, November 4th. This represents a $0.97 annualized dividend and a yield of 1.06%. Brink’s’s dividend payout ratio (DPR) is 36.74%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial reduced their target price on Brink’s from $144.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, November 7th. StockNews.com raised Brink’s from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $120.50.

Brink’s Company Profile

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, cash forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first line maintenance services; and cash-in-transit services.