Principal Financial Group Inc. Sells 43,382 Shares of The Brink’s Company (NYSE:BCO)

Principal Financial Group Inc. trimmed its holdings in The Brink’s Company (NYSE:BCO) by 25.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 124,599 shares of the business services provider’s stock after selling 43,382 shares during the period. Principal Financial Group Inc.’s holdings in Brink’s were worth $14,409,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Franklin Resources Inc. raised its holdings in shares of Brink’s by 19.9% in the 3rd quarter. Franklin Resources Inc. now owns 292,468 shares of the business services provider’s stock worth $32,862,000 after acquiring an additional 48,482 shares during the last quarter. Geode Capital Management LLC increased its holdings in Brink’s by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,046,336 shares of the business services provider’s stock worth $121,022,000 after purchasing an additional 8,841 shares in the last quarter. Barclays PLC raised its stake in shares of Brink’s by 204.3% in the third quarter. Barclays PLC now owns 81,878 shares of the business services provider’s stock worth $9,469,000 after purchasing an additional 54,975 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Brink’s in the third quarter valued at approximately $590,000. Finally, Orion Portfolio Solutions LLC purchased a new position in shares of Brink’s during the third quarter valued at approximately $751,000. 94.96% of the stock is currently owned by institutional investors and hedge funds.

Brink’s Trading Down 0.5 %

NYSE:BCO opened at $91.70 on Friday. The Brink’s Company has a 52 week low of $79.03 and a 52 week high of $115.91. The firm has a 50-day moving average price of $96.85 and a two-hundred day moving average price of $102.88. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 34.73 and a beta of 1.40. The company has a debt-to-equity ratio of 8.76, a quick ratio of 1.57 and a current ratio of 1.57.

Brink’s (NYSE:BCO) last issued its quarterly earnings results on Wednesday, November 6th. The business services provider reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.28). The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.27 billion. Brink’s had a return on equity of 71.46% and a net margin of 2.37%. The business’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 earnings per share. On average, equities analysts expect that The Brink’s Company will post 6.51 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP James K. Parks sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $96.51, for a total transaction of $386,040.00. Following the completion of the sale, the executive vice president now owns 11,103 shares in the company, valued at $1,071,550.53. This trade represents a 26.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.49% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Truist Financial lowered their price target on Brink’s from $144.00 to $138.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $120.50.

Brink’s 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.