Edgestream Partners L.P. Invests $1.11 Million in The Brink’s Company (NYSE:BCO)

Edgestream Partners L.P. acquired a new position in The Brink’s Company (NYSE:BCO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,860 shares of the business services provider’s stock, valued at approximately $1,112,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BCO. Covestor Ltd increased its holdings in shares of Brink’s by 154.8% in the first quarter. Covestor Ltd now owns 316 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 192 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Brink’s in the second quarter valued at about $37,000. LRI Investments LLC acquired a new position in shares of Brink’s in the first quarter valued at about $37,000. MFA Wealth Advisors LLC acquired a new stake in Brink’s during the second quarter worth about $47,000. Finally, GAMMA Investing LLC grew its stake in Brink’s by 119.0% during the second quarter. GAMMA Investing LLC now owns 460 shares of the business services provider’s stock worth $47,000 after buying an additional 250 shares in the last quarter. 94.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Truist Financial increased 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. StockNews.com upgraded shares of 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $123.50.

Brink’s Stock Up 1.0 %

BCO stock opened at $112.93 on Friday. The stock has a market capitalization of $5.02 billion, a P/E ratio of 43.27 and a beta of 1.43. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 7.78. The Brink’s Company has a 12 month low of $64.15 and a 12 month high of $113.63. The firm has a 50-day moving average price of $105.74 and a 200-day moving average price of $98.36.

Brink’s (NYSE:BCO) last posted 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. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.26 billion. Brink’s had a net margin of 2.73% and a return on equity of 69.80%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.18 earnings per share. As a group, equities research analysts anticipate that The Brink’s Company will post 7.51 EPS for the current fiscal year.

Brink’s Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be issued a $0.2425 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 0.86%. Brink’s’s dividend payout ratio (DPR) is currently 37.16%.

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.