Texas Permanent School Fund Corp Boosts Position in The Brink’s Company (NYSE:BCO)

Texas Permanent School Fund Corp boosted its holdings in The Brink’s Company (NYSE:BCO) by 9.9% in the second quarter, HoldingsChannel.com reports. The firm owned 42,852 shares of the business services provider’s stock after buying an additional 3,857 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Brink’s were worth $4,388,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in BCO. Jupiter Asset Management Ltd. acquired a new position in shares of Brink’s in the 1st quarter valued at $1,945,000. Capstone Investment Advisors LLC acquired a new stake in shares of Brink’s during the first quarter worth about $745,000. Fourth Sail Capital LP purchased a new stake in shares of Brink’s in the 1st quarter valued at about $11,501,000. Tidal Investments LLC boosted its position in shares of Brink’s by 228.6% in the 1st quarter. Tidal Investments LLC now owns 17,105 shares of the business services provider’s stock valued at $1,580,000 after purchasing an additional 11,899 shares during the period. Finally, SG Americas Securities LLC grew its stake in Brink’s by 219.9% during the 2nd quarter. SG Americas Securities LLC now owns 8,846 shares of the business services provider’s stock worth $906,000 after buying an additional 6,081 shares during the last quarter. 94.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BCO. StockNews.com upgraded Brink’s from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. William Blair began coverage on shares of Brink’s in a research report on Tuesday, May 21st. They issued an “outperform” rating for the company. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $106.50.

Brink’s Stock Performance

Shares of BCO stock opened at $111.07 on Friday. The Brink’s Company has a 52-week low of $64.15 and a 52-week high of $113.63. The stock’s 50-day moving average price is $104.68 and its 200 day moving average price is $97.11. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 7.78. The stock has a market capitalization of $4.90 billion, a PE ratio of 42.46 and a beta of 1.43.

Brink’s (NYSE:BCO) last released its quarterly earnings results on Wednesday, August 7th. The business services provider reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. Brink’s had a return on equity of 69.80% and a net margin of 2.73%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the business earned $1.18 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, equities research analysts forecast that The Brink’s Company will post 7.51 EPS for the current year.

Brink’s Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Monday, July 29th were issued a $0.2425 dividend. This represents a $0.97 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, July 29th. Brink’s’s payout ratio is 37.16%.

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.