Allspring Global Investments Holdings LLC Grows Stake in The Brink’s Company (NYSE:BCO)

Allspring Global Investments Holdings LLC increased its holdings in The Brink’s Company (NYSE:BCO) by 0.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,667 shares of the business services provider’s stock after buying an additional 543 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Brink’s were worth $8,519,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Covestor Ltd raised its holdings in shares of Brink’s by 154.8% in the 1st quarter. Covestor Ltd now owns 316 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 192 shares in the last quarter. LRI Investments LLC bought a new position in shares of Brink’s in the first quarter worth approximately $37,000. Headlands Technologies LLC purchased a new stake in Brink’s in the second quarter valued at approximately $37,000. GAMMA Investing LLC lifted its position in Brink’s by 119.0% during the second quarter. GAMMA Investing LLC now owns 460 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 250 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in Brink’s in the 2nd quarter worth approximately $47,000. Institutional investors own 94.96% of the company’s stock.

Brink’s Trading Down 0.6 %

BCO stock opened at $101.60 on Friday. The Brink’s Company has a one year low of $64.97 and a one year high of $115.91. The company has a market capitalization of $4.48 billion, a PE ratio of 34.32 and a beta of 1.43. The company’s 50 day moving average price is $109.17 and its two-hundred day moving average price is $102.44. The company has a debt-to-equity ratio of 7.78, a quick ratio of 1.57 and a current ratio of 1.57.

Brink’s (NYSE:BCO) last issued its earnings results on Wednesday, August 7th. The business services provider reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.20. Brink’s had a net margin of 2.73% and a return on equity of 69.80%. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the company earned $1.18 EPS. The firm’s revenue was up 3.0% compared to the same quarter last year. As a group, analysts predict that The Brink’s Company will post 7.4 earnings per share for the current fiscal 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 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 0.95%. Brink’s’s payout ratio is 32.77%.

Wall Street Analyst Weigh In

BCO has been the topic of several research reports. Truist Financial raised their price objective on shares of Brink’s from $110.00 to $144.00 and gave the company a “buy” rating in a research report on Friday, September 20th. StockNews.com upgraded Brink’s from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average 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.