Renaissance Technologies LLC Purchases 63,000 Shares of The Brink’s Company (NYSE:BCO)

Renaissance Technologies LLC raised its holdings in shares of The Brink’s Company (NYSE:BCO) by 36.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 234,000 shares of the business services provider’s stock after buying an additional 63,000 shares during the period. Renaissance Technologies LLC owned about 0.53% of Brink’s worth $23,962,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BCO. Covestor Ltd boosted its position in Brink’s by 154.8% during the first quarter. Covestor Ltd now owns 316 shares of the business services provider’s stock valued at $29,000 after buying an additional 192 shares during the period. LRI Investments LLC purchased a new stake in shares of Brink’s during the first quarter worth about $37,000. Headlands Technologies LLC purchased a new stake in shares of Brink’s during the second quarter worth about $37,000. GAMMA Investing LLC boosted its holdings in shares of Brink’s by 119.0% during the second quarter. GAMMA Investing LLC now owns 460 shares of the business services provider’s stock worth $47,000 after purchasing an additional 250 shares during the period. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Brink’s during the second quarter worth about $47,000. 94.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Brink’s from a “buy” rating to a “strong-buy” rating in a 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $106.50.

Brink’s Stock Performance

Shares of BCO opened at $111.80 on Friday. The Brink’s Company has a one year low of $64.15 and a one year high of $113.63. The company has a 50-day simple moving average of $105.56 and a two-hundred day simple moving average of $98.16. The firm has a market capitalization of $4.93 billion, a PE ratio of 42.84 and a beta of 1.43. The company has a debt-to-equity ratio of 7.78, a current ratio of 1.57 and a quick ratio of 1.57.

Brink’s (NYSE:BCO) last announced its 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 business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the firm earned $1.18 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts anticipate that The Brink’s Company will post 7.51 EPS for the current fiscal year.

Brink’s Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, July 29th were given a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, July 29th. Brink’s’s dividend payout ratio (DPR) is currently 37.16%.

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.