OLD National Bancorp IN Cuts Stock Position in The Brink’s Company (NYSE:BCO)

OLD National Bancorp IN cut its holdings in shares of The Brink’s Company (NYSE:BCO) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,443 shares of the business services provider’s stock after selling 128 shares during the period. OLD National Bancorp IN’s holdings in Brink’s were worth $227,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BCO. Wasatch Advisors LP purchased a new stake in Brink’s during the third quarter worth about $59,308,000. Fiera Capital Corp purchased a new stake in Brink’s during the third quarter worth about $27,460,000. State Street Corp increased its stake 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 purchasing an additional 82,999 shares during the period. Raymond James & Associates increased its stake in Brink’s by 202.3% during the third quarter. Raymond James & Associates now owns 94,055 shares of the business services provider’s stock worth $10,876,000 after purchasing an additional 62,942 shares during the period. Finally, Barclays PLC increased its stake in Brink’s by 204.3% during the third quarter. Barclays PLC now owns 81,878 shares of the business services provider’s stock worth $9,469,000 after purchasing an additional 54,975 shares during the period. 94.96% of the stock is currently owned by hedge funds and other institutional investors.

Brink’s Stock Down 2.6 %

BCO stock opened at $93.37 on Monday. The company’s 50 day moving average price is $93.43 and its 200 day moving average price is $101.19. The company has a debt-to-equity ratio of 8.76, a quick ratio of 1.57 and a current ratio of 1.57. The Brink’s Company has a fifty-two week low of $79.03 and a fifty-two week high of $115.91. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 35.37 and a beta of 1.40.

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 return on equity of 71.46% and a net margin of 2.37%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the previous year, the company posted $1.92 earnings per share. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. On average, equities research analysts anticipate that The Brink’s Company will post 6.51 EPS for the current fiscal year.

Brink’s Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Monday, February 3rd will be issued a $0.2425 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Monday, February 3rd. Brink’s’s dividend payout ratio (DPR) is 36.74%.

Analysts Set New Price Targets

Separately, Truist Financial cut their price target on shares of Brink’s from $144.00 to $138.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brink’s has an average rating of “Buy” and an average price target of $120.50.

Insider Activity at Brink’s

In related news, EVP James K. Parks sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $96.51, for a total value of $386,040.00. Following the completion of the transaction, the executive vice president now directly owns 11,103 shares of the company’s stock, valued at $1,071,550.53. This represents a 26.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.49% of the stock is currently owned by corporate insiders.

Brink’s Profile

The Brink’s Co engages in providing cash management services, digital retail solutions, and ATM managed services. It operates through the following geographical segments: North America, Latin America, Europe, and Rest of World. The North America segment operates in the U.S. and Canada. The Latin America segment refers to the operations in Latin American countries.