Raymond James & Associates Buys 62,942 Shares of The Brink's Company (NYSE:BCO)

Raymond James & Associates boosted its stake in The Brink's Company (NYSE:BCO - Free Report) by 202.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 94,055 shares of the business services provider's stock after purchasing an additional 62,942 shares during the quarter. Raymond James & Associates owned about 0.21% of Brink's worth $10,876,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Jupiter Asset Management Ltd. acquired a new position in shares of Brink's during the first quarter worth $1,945,000. Capstone Investment Advisors LLC acquired a new stake in Brink's in the first quarter valued at $745,000. Tidal Investments LLC raised its holdings in Brink's by 228.6% in the first quarter. Tidal Investments LLC now owns 17,105 shares of the business services provider's stock valued at $1,580,000 after acquiring an additional 11,899 shares in the last quarter. SG Americas Securities LLC raised its holdings in Brink's by 219.9% in the second quarter. SG Americas Securities LLC now owns 8,846 shares of the business services provider's stock valued at $906,000 after acquiring an additional 6,081 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Brink's by 1.4% in the first quarter. Vanguard Group Inc. now owns 4,662,790 shares of the business services provider's stock valued at $430,749,000 after acquiring an additional 63,853 shares in the last quarter. 94.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Brink's from $110.00 to $144.00 and gave the company a "buy" rating in a research note on Friday, September 20th. StockNews.com upgraded shares of 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Brink's presently has a consensus rating of "Buy" and a consensus target price of $123.50.

Brink's Price Performance

BCO traded down $0.13 on Tuesday, reaching $104.28. The company had a trading volume of 183,800 shares, compared to its average volume of 254,674. The company has a fifty day moving average of $109.17 and a 200-day moving average of $102.66. The company has a market capitalization of $4.60 billion, a P/E ratio of 35.21 and a beta of 1.43. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 7.78. The Brink's Company has a one year low of $65.97 and a one year high of $115.91.

Brink's (NYSE:BCO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The business services provider reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.20. Brink's had a net margin of 2.73% and a return on equity of 69.80%. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the company earned $1.18 EPS. Brink's's revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts anticipate that The Brink's Company will post 7.4 earnings per share for the current year.

Brink's Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a $0.2425 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.97 dividend on an annualized basis and a yield of 0.93%. Brink's's dividend payout ratio is currently 32.77%.

About Brink's

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.