Millennium Management LLC Buys 31,094 Shares of The Brink’s Company (NYSE:BCO)

Millennium Management LLC grew its stake in The Brink’s Company (NYSE:BCO) by 150.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,798 shares of the business services provider’s stock after acquiring an additional 31,094 shares during the quarter. Millennium Management LLC owned 0.12% of Brink’s worth $5,304,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Arizona State Retirement System increased its stake in Brink’s by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 12,521 shares of the business services provider’s stock worth $1,282,000 after purchasing an additional 140 shares in the last quarter. Retirement Systems of Alabama grew its stake in shares of Brink’s by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 56,573 shares of the business services provider’s stock worth $5,226,000 after acquiring an additional 148 shares in the last quarter. Covestor Ltd grew its stake in shares of Brink’s by 154.8% during the 1st quarter. Covestor Ltd now owns 316 shares of the business services provider’s stock worth $29,000 after acquiring an additional 192 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Brink’s by 0.9% during the 2nd quarter. Natixis Advisors LLC now owns 21,543 shares of the business services provider’s stock worth $2,206,000 after acquiring an additional 199 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in shares of Brink’s by 2.2% in the 1st quarter. ProShare Advisors LLC now owns 10,235 shares of the business services provider’s stock valued at $946,000 after buying an additional 221 shares during the last quarter. 94.96% of the stock is owned by institutional investors.

Brink’s Trading Up 2.4 %

Shares of Brink’s stock opened at $111.43 on Friday. The business has a fifty day simple moving average of $107.18 and a two-hundred day simple moving average of $101.15. The Brink’s Company has a 1 year low of $64.97 and a 1 year high of $115.91. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 42.69 and a beta of 1.43. The company has a debt-to-equity ratio of 7.78, a current ratio of 1.57 and a quick ratio of 1.57.

Brink’s (NYSE:BCO) last posted its earnings results on Wednesday, August 7th. The business services provider reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Brink’s had a return on equity of 69.80% and a net margin of 2.73%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $1.18 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. Research analysts forecast that The Brink’s Company will post 7.4 EPS for the current year.

Brink’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be given a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, November 4th. Brink’s’s payout ratio is currently 37.16%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BCO. Truist Financial increased their price objective on Brink’s from $110.00 to $144.00 and gave the company a “buy” rating in a report on Friday, September 20th. StockNews.com raised Brink’s from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Brink’s currently has a consensus rating of “Buy” and an average target price of $123.50.

About Brink’s

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.