Bank of New York Mellon Corp grew its position in shares of Brink’s (NYSE:BCO) by 55.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 889,518 shares of the business services provider’s stock after acquiring an additional 317,722 shares during the quarter. Bank of New York Mellon Corp owned about 1.76% of Brink’s worth $46,300,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Brink’s by 6.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,375,108 shares of the business services provider’s stock valued at $71,574,000 after acquiring an additional 84,193 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Brink’s during the first quarter valued at approximately $16,948,000. Monarch Partners Asset Management LLC increased its holdings in shares of Brink’s by 56.9% during the first quarter. Monarch Partners Asset Management LLC now owns 147,251 shares of the business services provider’s stock valued at $7,664,000 after acquiring an additional 53,428 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Brink’s by 354.7% during the first quarter. SG Americas Securities LLC now owns 18,470 shares of the business services provider’s stock valued at $961,000 after acquiring an additional 14,408 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of Brink’s by 2.1% during the first quarter. Comerica Bank now owns 184,091 shares of the business services provider’s stock valued at $8,124,000 after buying an additional 3,771 shares during the last quarter.
BCO has been the topic of several analyst reports. SunTrust Banks cut their target price on Brink’s from $115.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Zacks Investment Research cut Brink’s from a “hold” rating to a “strong sell” rating in a research report on Monday, May 11th. Imperial Capital cut their target price on Brink’s from $98.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Standpoint Research raised Brink’s from a “hold” rating to a “buy” rating in a research report on Monday, May 18th. Finally, ValuEngine raised Brink’s from a “sell” rating to a “hold” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. Brink’s currently has an average rating of “Hold” and an average target price of $88.80.
BCO stock opened at $40.47 on Friday. The stock’s fifty day simple moving average is $45.69 and its two-hundred day simple moving average is $74.21. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 21.42. Brink’s has a 1-year low of $33.17 and a 1-year high of $97.12. The stock has a market cap of $2.08 billion, a P/E ratio of 130.55 and a beta of 1.35.
Brink’s (NYSE:BCO) last posted its quarterly earnings data on Tuesday, May 5th. The business services provider reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.34). Brink’s had a return on equity of 102.15% and a net margin of 0.45%. The business had revenue of $873.00 million during the quarter, compared to analysts’ expectations of $939.80 million. During the same period in the prior year, the firm posted $0.79 EPS. The firm’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, analysts forecast that Brink’s will post 1.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be given a $0.15 dividend. The ex-dividend date is Friday, May 15th. This represents a $0.60 annualized dividend and a yield of 1.48%. Brink’s’s dividend payout ratio is currently 15.42%.
Brink’s announced that its Board of Directors has initiated a stock buyback plan on Thursday, February 6th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the business services provider to purchase up to 6.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other news, SVP Raphael J. Shemanski bought 1,000 shares of the stock in a transaction on Thursday, March 5th. The shares were purchased at an average cost of $79.50 per share, for a total transaction of $79,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas A. Pertz bought 15,000 shares of the stock in a transaction on Tuesday, March 3rd. The stock was purchased at an average price of $80.38 per share, for a total transaction of $1,205,700.00. Following the completion of the purchase, the chief executive officer now owns 388,495 shares of the company’s stock, valued at $31,227,228.10. The disclosure for this purchase can be found here. In the last three months, insiders acquired 31,734 shares of company stock worth $1,978,852. Insiders own 3.24% of the company’s stock.
Brink’s Company Profile
The Brink's Company provides secure transportation, cash management, and other security-related services in North America, South America, and internationally. The company offers cash-in-transit services, including armored vehicle transportation of valuables; automated teller machine (ATM) services, such as cash replenishment, replenishment forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first and second line maintenance; and network infrastructure services.
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