State Board of Administration of Florida Retirement System cut its position in shares of Brink's Company (NYSE:BCO) by 18.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,862 shares of the business services provider’s stock after selling 7,040 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Brink's Company were worth $1,703,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Wells Fargo & Company MN raised its stake in Brink's Company by 2,351.9% in the first quarter. Wells Fargo & Company MN now owns 1,217,418 shares of the business services provider’s stock worth $65,071,000 after buying an additional 1,167,765 shares during the last quarter. State Street Corp raised its stake in Brink's Company by 5.2% in the fourth quarter. State Street Corp now owns 1,067,502 shares of the business services provider’s stock worth $44,037,000 after buying an additional 52,454 shares during the last quarter. Norges Bank acquired a new stake in Brink's Company during the fourth quarter worth about $19,681,000. Columbus Circle Investors acquired a new stake in Brink's Company during the first quarter worth about $24,173,000. Finally, Foundation Asset Management LP acquired a new stake in Brink's Company during the fourth quarter worth about $15,993,000. Institutional investors own 93.20% of the company’s stock.
Shares of Brink's Company (NYSE BCO) opened at 65.05 on Tuesday. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 46.04 and a beta of 1.40. Brink's Company has a one year low of $26.86 and a one year high of $65.90. The company’s 50 day moving average price is $60.87 and its 200 day moving average price is $50.73.
Brink's Company (NYSE:BCO) last posted its quarterly earnings data on Wednesday, April 26th. The business services provider reported $0.57 EPS for the quarter, beating the consensus estimate of $0.39 by $0.18. The business had revenue of $788.40 million for the quarter, compared to analysts’ expectations of $696.06 million. Brink's Company had a net margin of 1.14% and a return on equity of 29.99%. The firm’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.31 EPS. On average, analysts expect that Brink's Company will post $2.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Thursday, May 18th were given a $0.15 dividend. This is a boost from Brink's Company’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 0.92%. The ex-dividend date was Tuesday, May 16th. Brink's Company’s payout ratio is currently 58.82%. A number of analysts have recently issued reports on BCO shares. Zacks Investment Research upgraded Brink's Company from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a report on Tuesday, May 2nd. Imperial Capital increased their target price on Brink's Company to $52.00 and gave the company an “in-line” rating in a report on Thursday, February 9th. Finally, SunTrust Banks, Inc. started coverage on Brink's Company in a report on Monday, February 27th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $57.00.
In related news, Director Peter A. Feld sold 440,000 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $60.43, for a total value of $26,589,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas A. Pertz acquired 12,271 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The stock was bought at an average cost of $52.00 per share, for a total transaction of $638,092.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 29,600 shares of company stock worth $1,627,919 and sold 1,139,888 shares worth $70,055,739. Insiders own 11.29% of the company’s stock. About Brink's Company
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