Geode Capital Management LLC Grows Stock Position in The Brink's Company (NYSE:BCO)

Geode Capital Management LLC increased its holdings in shares of The Brink's Company (NYSE:BCO - Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,046,336 shares of the business services provider's stock after purchasing an additional 8,841 shares during the quarter. Geode Capital Management LLC owned approximately 2.40% of Brink's worth $121,022,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in BCO. State Street Corp increased its position in Brink's by 5.1% during the third quarter. State Street Corp now owns 1,718,765 shares of the business services provider's stock worth $198,758,000 after buying an additional 82,999 shares during the period. Dimensional Fund Advisors LP increased its position in Brink's by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,006,620 shares of the business services provider's stock worth $103,079,000 after buying an additional 3,319 shares during the period. LSV Asset Management increased its position in Brink's by 15,919.2% during the second quarter. LSV Asset Management now owns 800,961 shares of the business services provider's stock worth $82,018,000 after buying an additional 795,961 shares during the period. Southernsun Asset Management LLC increased its position in Brink's by 11.0% during the third quarter. Southernsun Asset Management LLC now owns 517,932 shares of the business services provider's stock worth $59,894,000 after buying an additional 51,128 shares during the period. Finally, Wasatch Advisors LP acquired a new position in Brink's during the third quarter worth approximately $59,308,000. Hedge funds and other institutional investors own 94.96% of the company's stock.

Insider Activity

In related news, EVP James K. Parks sold 4,000 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $96.51, for a total transaction of $386,040.00. Following the transaction, the executive vice president now directly owns 11,103 shares in the company, valued at approximately $1,071,550.53. This represents a 26.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.49% of the company's stock.

Analysts Set New Price Targets

Separately, Truist Financial dropped their target price 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 equities 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, the stock currently has an average rating of "Buy" and an average target price of $120.50.

Brink's Price Performance

BCO stock traded down $5.04 on Wednesday, reaching $89.60. 339,926 shares of the company's stock were exchanged, compared to its average volume of 262,930. The stock has a fifty day moving average of $100.19 and a 200-day moving average of $103.56. The Brink's Company has a twelve month low of $79.03 and a twelve month high of $115.91. The firm has a market cap of $3.91 billion, a PE ratio of 33.94 and a beta of 1.40. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 8.76.

Brink's (NYSE:BCO - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The business services provider reported $1.51 earnings per share for the quarter, missing analysts' consensus estimates of $1.79 by ($0.28). Brink's had a return on equity of 71.46% and a net margin of 2.37%. The business had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company earned $1.92 EPS. The company's revenue was down 3.4% on a year-over-year basis. As a group, equities analysts predict that The Brink's Company will post 6.51 EPS for the current fiscal year.

Brink's Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were given a $0.2425 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.97 annualized dividend and a dividend yield of 1.08%. Brink's's dividend payout ratio is currently 36.74%.

Brink's Company 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.