Hsbc Holdings PLC Increases Stake in The Brink’s Company (NYSE:BCO)

Hsbc Holdings PLC increased its position in shares of The Brink’s Company (NYSE:BCO) by 24.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,621 shares of the business services provider’s stock after purchasing an additional 4,051 shares during the period. Hsbc Holdings PLC’s holdings in Brink’s were worth $2,125,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BCO. Covestor Ltd grew its position in 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 during the last quarter. LRI Investments LLC bought a new position in shares of Brink’s in the first quarter worth about $37,000. Headlands Technologies LLC purchased a new position in Brink’s in the 2nd quarter worth about $37,000. GAMMA Investing LLC lifted its holdings in Brink’s by 119.0% during the 2nd quarter. GAMMA Investing LLC now owns 460 shares of the business services provider’s stock valued at $47,000 after buying an additional 250 shares in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new stake in Brink’s in the 2nd quarter valued at about $47,000. 94.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on BCO. Truist Financial lifted their price target on shares of Brink’s from $110.00 to $144.00 and gave the company 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 report on Friday, August 16th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $123.50.

Brink’s Stock Performance

Shares of NYSE:BCO opened at $113.00 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 7.78. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 43.30 and a beta of 1.43. The firm has a 50 day moving average of $106.26 and a 200 day moving average of $99.15. The Brink’s Company has a 52 week low of $64.15 and a 52 week high of $114.49.

Brink’s (NYSE:BCO) last posted its earnings results on Wednesday, August 7th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.20. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.26 billion. Brink’s had a return on equity of 69.80% and a net margin of 2.73%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 earnings per share. On average, sell-side analysts predict that The Brink’s Company will post 7.47 earnings per share for the current fiscal year.

Brink’s Dividend Announcement

The company also recently announced 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 0.86%. Brink’s’s dividend payout ratio (DPR) is 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.