Bridgewater Associates LP Sells 11,387 Shares of The Brink’s Company (NYSE:BCO)

Bridgewater Associates LP reduced its position in shares of The Brink’s Company (NYSE:BCO) by 23.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 36,983 shares of the business services provider’s stock after selling 11,387 shares during the period. Bridgewater Associates LP’s holdings in Brink’s were worth $4,277,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BCO. Townsquare Capital LLC bought a new position in shares of Brink’s in the third quarter valued at approximately $278,000. Hancock Whitney Corp increased its holdings in Brink’s by 1.4% during the 3rd quarter. Hancock Whitney Corp now owns 14,279 shares of the business services provider’s stock valued at $1,651,000 after purchasing an additional 192 shares in the last quarter. Larson Financial Group LLC raised its position in Brink’s by 144.5% in the 3rd quarter. Larson Financial Group LLC now owns 2,423 shares of the business services provider’s stock valued at $280,000 after purchasing an additional 1,432 shares during the last quarter. Cerity Partners LLC boosted its stake in Brink’s by 32.7% in the third quarter. Cerity Partners LLC now owns 14,378 shares of the business services provider’s stock worth $1,663,000 after purchasing an additional 3,544 shares in the last quarter. Finally, Citigroup Inc. increased its stake in shares of Brink’s by 134.2% in the third quarter. Citigroup Inc. now owns 42,301 shares of the business services provider’s stock valued at $4,892,000 after buying an additional 24,236 shares in the last quarter. 94.96% of the stock is currently owned by institutional investors and hedge funds.

Brink’s Trading Up 0.8 %

Shares of BCO opened at $96.97 on Friday. The stock’s fifty day simple moving average is $104.61 and its 200-day simple moving average is $103.89. 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 has a market capitalization of $4.23 billion, a PE ratio of 36.73 and a beta of 1.44. The Brink’s Company has a 12-month low of $78.13 and a 12-month high of $115.91.

Brink’s (NYSE:BCO) last issued its quarterly earnings results on Wednesday, November 6th. The business services provider reported $1.51 EPS for the quarter, missing the consensus estimate 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 quarter in the prior year, the firm earned $1.92 EPS. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. As a group, research analysts predict that The Brink’s Company will post 6.51 earnings per share for the current year.

Brink’s Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be paid a dividend of $0.2425 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 1.00%. Brink’s’s dividend payout ratio (DPR) is presently 36.74%.

Analysts Set New Price Targets

BCO has been the topic of several research reports. StockNews.com upgraded shares of Brink’s from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Truist Financial reduced their target price on shares of Brink’s from $144.00 to $138.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Three investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Brink’s has a consensus rating of “Buy” and a consensus target price of $120.50.

Insider Activity at Brink’s

In related news, EVP James K. Parks sold 4,000 shares of Brink’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $96.51, for a total transaction of $386,040.00. Following the transaction, the executive vice president now 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is currently owned by corporate insiders.

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.