New York State Teachers Retirement System Trims Stake in The Brink’s Company (NYSE:BCO)

New York State Teachers Retirement System decreased its holdings in shares of The Brink’s Company (NYSE:BCO) by 1.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 62,407 shares of the business services provider’s stock after selling 616 shares during the period. New York State Teachers Retirement System’s holdings in Brink’s were worth $7,217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. BNP Paribas Financial Markets boosted its holdings in shares of Brink’s by 157.9% in the first quarter. BNP Paribas Financial Markets now owns 99,024 shares of the business services provider’s stock valued at $9,148,000 after purchasing an additional 60,631 shares during the period. Texas Permanent School Fund Corp grew its position in shares of Brink’s by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 38,995 shares of the business services provider’s stock worth $3,602,000 after buying an additional 487 shares in the last quarter. LSV Asset Management grew its position in shares of Brink’s by 56.3% during the 1st quarter. LSV Asset Management now owns 5,000 shares of the business services provider’s stock worth $462,000 after buying an additional 1,800 shares in the last quarter. Horizon Investment Services LLC increased its stake in shares of Brink’s by 11.8% during the first quarter. Horizon Investment Services LLC now owns 9,710 shares of the business services provider’s stock valued at $897,000 after buying an additional 1,025 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Brink’s by 10,280.0% in the first quarter. Russell Investments Group Ltd. now owns 2,595 shares of the business services provider’s stock valued at $240,000 after acquiring an additional 2,570 shares in the last quarter. 94.96% of the stock is currently owned by hedge funds and other institutional investors.

Brink’s Stock Performance

NYSE:BCO opened at $103.88 on Tuesday. The company’s 50-day moving average is $109.01 and its two-hundred day moving average is $103.14. The Brink’s Company has a 1-year low of $69.92 and a 1-year high of $115.91. The company has a debt-to-equity ratio of 7.78, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 35.09 and a beta of 1.44.

Brink’s (NYSE:BCO) last released its earnings results on Wednesday, August 7th. The business services provider reported $1.67 earnings per share for the quarter, beating 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 company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the previous year, the company posted $1.18 EPS. Brink’s’s revenue was up 3.0% compared to the same quarter last year. Analysts forecast that The Brink’s Company will post 7.4 EPS for the current year.

Brink’s Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be paid a $0.2425 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.97 annualized dividend and a yield of 0.93%. Brink’s’s dividend payout ratio is currently 32.77%.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Brink’s from $110.00 to $144.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. StockNews.com upgraded Brink’s from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus 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.