Allspring Global Investments Holdings LLC Sells 2,543 Shares of The Brink’s Company (NYSE:BCO)

Allspring Global Investments Holdings LLC lowered its stake in shares of The Brink’s Company (NYSE:BCO) by 7.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 33,359 shares of the business services provider’s stock after selling 2,543 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of Brink’s worth $3,082,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in Brink’s by 60.3% in the 4th quarter. Blue Trust Inc. now owns 375 shares of the business services provider’s stock worth $33,000 after purchasing an additional 141 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Brink’s by 13.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,723 shares of the business services provider’s stock worth $152,000 after purchasing an additional 210 shares during the last quarter. Franklin Resources Inc. lifted its position in Brink’s by 2.0% during the 4th quarter. Franklin Resources Inc. now owns 15,870 shares of the business services provider’s stock valued at $1,396,000 after purchasing an additional 318 shares during the period. NBC Securities Inc. boosted its stake in shares of Brink’s by 5.1% in the 1st quarter. NBC Securities Inc. now owns 7,044 shares of the business services provider’s stock valued at $651,000 after purchasing an additional 339 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of Brink’s by 0.7% during the 4th quarter. Raymond James & Associates now owns 47,783 shares of the business services provider’s stock worth $4,203,000 after buying an additional 340 shares during the period. Institutional investors and hedge funds own 94.96% of the company’s stock.

Brink’s Stock Up 0.6 %

Shares of NYSE:BCO opened at $101.44 on Wednesday. The company has a 50 day moving average price of $98.24 and a two-hundred day moving average price of $89.47. The company has a market capitalization of $4.51 billion, a PE ratio of 38.86 and a beta of 1.46. The Brink’s Company has a 52 week low of $63.79 and a 52 week high of $105.50. The company has a debt-to-equity ratio of 6.37, a quick ratio of 1.46 and a current ratio of 1.46.

Brink’s (NYSE:BCO) last issued its quarterly earnings data on Wednesday, May 8th. The business services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.23 by $0.29. Brink’s had a return on equity of 59.84% and a net margin of 2.46%. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the business posted $1.16 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Analysts forecast that The Brink’s Company will post 7.56 earnings per share for the current year.

Brink’s Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 13th were paid a $0.243 dividend. The ex-dividend date was Friday, May 10th. This represents a $0.97 dividend on an annualized basis and a yield of 0.96%. This is a positive change from Brink’s’s previous quarterly dividend of $0.22. Brink’s’s payout ratio is presently 37.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. TheStreet cut shares of Brink’s from a “b” rating to a “c+” rating in a research note on Wednesday, March 13th. William Blair started coverage on Brink’s in a research note on Tuesday, May 21st. They set an “outperform” rating for the company. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $106.50.

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.