Geode Capital Management LLC Purchases 8,841 Shares of The Brink’s Company (NYSE:BCO)

Geode Capital Management LLC lifted its position in The Brink’s Company (NYSE:BCO) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,046,336 shares of the business services provider’s stock after buying an additional 8,841 shares during the period. Geode Capital Management LLC owned approximately 2.40% of Brink’s worth $121,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of BCO. Headlands Technologies LLC bought a new stake in shares of Brink’s during the 2nd quarter valued at about $37,000. First Horizon Advisors Inc. raised its position in Brink’s by 200.5% in 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 period. Rothschild Investment LLC purchased a new position in shares of Brink’s during the 2nd quarter worth $85,000. Quarry LP grew its position in shares of Brink’s by 21.4% during the 2nd quarter. Quarry LP now owns 852 shares of the business services provider’s stock valued at $87,000 after acquiring an additional 150 shares during the period. Finally, Larson Financial Group LLC purchased a new stake in shares of Brink’s in the 2nd quarter worth $101,000. Institutional investors own 94.96% of the company’s stock.

Analyst Ratings Changes

Separately, Truist Financial cut their price target on Brink’s from $144.00 to $138.00 and set a “buy” rating for the company in a report on Thursday, November 7th. Three investment 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, the company has a consensus rating of “Buy” and an average price target of $120.50.

Brink’s Price Performance

Shares of NYSE:BCO opened at $94.64 on Wednesday. The firm’s 50 day simple moving average is $100.52 and its two-hundred day simple moving average is $103.62. The company has a debt-to-equity ratio of 8.76, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market capitalization of $4.13 billion, a P/E ratio of 35.85 and a beta of 1.40. The Brink’s Company has a 1-year low of $79.03 and a 1-year high of $115.91.

Brink’s (NYSE:BCO) last released its earnings results 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 net margin of 2.37% and a return on equity of 71.46%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter last year, the firm posted $1.92 EPS. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. Research analysts expect that The Brink’s Company will post 6.51 EPS for the current fiscal year.

Brink’s Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were given a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Monday, November 4th. Brink’s’s dividend payout ratio is currently 36.74%.

Insider Activity at Brink’s

In other Brink’s news, EVP James K. Parks sold 4,000 shares of Brink’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $96.51, for a total value of $386,040.00. Following the sale, the executive vice president now directly owns 11,103 shares in the company, valued at approximately $1,071,550.53. The trade was a 26.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.49% of the stock is 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.