Franklin Resources Inc. Purchases 48,482 Shares of The Brink's Company (NYSE:BCO)

Franklin Resources Inc. raised its stake in The Brink's Company (NYSE:BCO - Free Report) by 19.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 292,468 shares of the business services provider's stock after buying an additional 48,482 shares during the quarter. Franklin Resources Inc. owned about 0.67% of Brink's worth $32,862,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Headlands Technologies LLC acquired a new stake in shares of Brink's during the second quarter worth about $37,000. First Horizon Advisors Inc. grew its position in shares of Brink's by 200.5% during the third quarter. First Horizon Advisors Inc. now owns 610 shares of the business services provider's stock worth $71,000 after acquiring an additional 407 shares during the last quarter. Rothschild Investment LLC acquired a new position in shares of Brink's in the 2nd quarter valued at $85,000. Quarry LP raised its position in Brink's by 21.4% in the 2nd quarter. Quarry LP now owns 852 shares of the business services provider's stock valued at $87,000 after purchasing an additional 150 shares during the last quarter. Finally, Larson Financial Group LLC purchased a new position in Brink's during the 2nd quarter worth $101,000. 94.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Brink's

In related news, EVP James K. Parks sold 4,000 shares of the firm's stock in a transaction on Friday, November 22nd. The stock was 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 directly owns 11,103 shares of the company's stock, valued at $1,071,550.53. This trade represents a 26.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.49% of the company's stock.

Brink's Price Performance

NYSE BCO traded down $0.35 on Thursday, reaching $89.25. 316,600 shares of the stock traded hands, compared to its average volume of 263,149. The Brink's Company has a 12 month low of $79.03 and a 12 month high of $115.91. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 8.76. The firm's fifty day simple moving average is $99.75 and its 200 day simple moving average is $103.46. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 33.81 and a beta of 1.40.

Brink's (NYSE:BCO - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.27 billion. Brink's had a return on equity of 71.46% and a net margin of 2.37%. The company's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.92 EPS. As a group, research analysts predict that The Brink's Company will post 6.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Truist Financial dropped their price objective on Brink's from $144.00 to $138.00 and set a "buy" rating on the stock in a report on Thursday, November 7th. Three 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 company currently 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.