Brink’s Company (The) $BCO is Channing Capital Management LLC’s 4th Largest Position

Channing Capital Management LLC reduced its holdings in shares of Brink’s Company (The) (NYSE:BCO) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 822,946 shares of the business services provider’s stock after selling 11,078 shares during the period. Brink’s makes up 2.5% of Channing Capital Management LLC’s investment portfolio, making the stock its 4th largest holding. Channing Capital Management LLC owned about 1.98% of Brink’s worth $96,169,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BCO. Royal Bank of Canada boosted its stake in shares of Brink’s by 10.9% during the first quarter. Royal Bank of Canada now owns 54,678 shares of the business services provider’s stock worth $4,711,000 after buying an additional 5,359 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Brink’s by 3.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,098 shares of the business services provider’s stock worth $2,249,000 after acquiring an additional 852 shares during the period. United Services Automobile Association acquired a new stake in Brink’s during the 1st quarter worth approximately $257,000. CWM LLC grew its stake in shares of Brink’s by 53.8% in the 2nd quarter. CWM LLC now owns 512 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 179 shares during the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Brink’s in the second quarter valued at approximately $1,786,000. 94.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Truist Financial increased their price target on Brink’s from $138.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $163.00.

Brink’s Stock Performance

NYSE BCO opened at $130.50 on Friday. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 33.38 and a beta of 1.09. The business’s 50 day moving average is $124.18 and its two-hundred day moving average is $116.90. Brink’s Company has a 12-month low of $80.10 and a 12-month high of $133.62. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 9.14.

Brink’s announced that its board has initiated a share buyback plan on Thursday, December 11th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the business services provider to repurchase up to 15.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Brink’s Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Monday, February 2nd will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, February 2nd. Brink’s’s payout ratio is presently 26.09%.

Insider Buying and Selling at Brink’s

In other news, insider Michael E. Sweeney sold 1,418 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $119.50, for a total transaction of $169,451.00. Following the transaction, the insider directly owned 5,755 shares of the company’s stock, valued at $687,722.50. This represents a 19.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.49% of the stock is currently owned by company insiders.

Brink’s Profile

The Brink’s Company (NYSE: BCO) is a global leader in secure logistics and cash management solutions. The company provides a comprehensive suite of services that span armored transportation, cash-in-transit (CIT), ATM services, smart safe solutions, and valuables storage. Through its network of service centers and armored vehicles, Brink’s ensures the safe and efficient movement of currency, precious metals, and other high-value assets for banks, retailers, mints, and government agencies.

Brink’s armored transport operations are complemented by technology-driven cash management offerings, including deposit automation and secure vaulting.