Renaissance Technologies LLC Buys 63,000 Shares of The Brink's Company (NYSE:BCO)

Renaissance Technologies LLC grew its stake in shares of The Brink's Company (NYSE:BCO - Free Report) by 36.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 234,000 shares of the business services provider's stock after purchasing an additional 63,000 shares during the quarter. Renaissance Technologies LLC owned approximately 0.53% of Brink's worth $23,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in Brink's by 0.3% in 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 acquiring an additional 3,319 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Brink's by 4.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 26,401 shares of the business services provider's stock worth $2,703,000 after purchasing an additional 1,082 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Brink's by 15.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 16,084 shares of the business services provider's stock valued at $1,647,000 after purchasing an additional 2,147 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new position in shares of Brink's during the second quarter valued at about $245,000. Finally, Headlands Technologies LLC purchased a new stake in Brink's in the second quarter worth about $37,000. Institutional investors own 94.96% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Brink's from a "buy" rating to a "strong-buy" rating in a research report on Friday, August 16th. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $106.50.

Brink's Stock Up 0.0 %

Shares of BCO traded up $0.05 during mid-day trading on Friday, reaching $111.85. The company had a trading volume of 96,227 shares, compared to its average volume of 252,771. The company has a market capitalization of $4.94 billion, a price-to-earnings ratio of 42.84 and a beta of 1.43. The firm has a 50-day moving average price of $105.56 and a 200 day moving average price of $98.16. The Brink's Company has a 52 week low of $64.15 and a 52 week high of $113.63. The company has a debt-to-equity ratio of 7.78, a quick ratio of 1.57 and a current ratio of 1.57.

Brink's (NYSE:BCO - Get Free Report) last issued its earnings results on Wednesday, August 7th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.20. Brink's had a net margin of 2.73% and a return on equity of 69.80%. The business had revenue of $1.25 billion during the quarter, compared to analysts' expectations of $1.26 billion. During the same period in the previous year, the company earned $1.18 earnings per share. The business's revenue for the quarter was up 3.0% compared to the same quarter last year. On average, sell-side analysts forecast that The Brink's Company will post 7.51 EPS for the current year.

Brink's Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, July 29th were paid a dividend of $0.2425 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $0.97 annualized dividend and a yield of 0.87%. Brink's's dividend payout ratio is 37.16%.

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.