Sei Investments Co. Increases Stake in The Brink’s Company (NYSE:BCO)

Sei Investments Co. lifted its position in The Brink’s Company (NYSE:BCO) by 9.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 235,459 shares of the business services provider’s stock after acquiring an additional 21,194 shares during the quarter. Sei Investments Co. owned 0.53% of Brink’s worth $24,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BCO. Canada Pension Plan Investment Board raised its holdings in shares of Brink’s by 53.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 26,000 shares of the business services provider’s stock valued at $2,662,000 after purchasing an additional 9,100 shares in the last quarter. Intech Investment Management LLC bought a new position in Brink’s in the second quarter worth approximately $935,000. XTX Topco Ltd bought a new position in Brink’s in the second quarter worth approximately $565,000. Seven Eight Capital LP purchased a new stake in Brink’s during the second quarter worth $829,000. Finally, Hsbc Holdings PLC boosted its position in Brink’s by 24.4% during the 2nd quarter. Hsbc Holdings PLC now owns 20,621 shares of the business services provider’s stock valued at $2,125,000 after acquiring an additional 4,051 shares in the last quarter. 94.96% of the stock is currently owned by institutional investors.

Brink’s Stock Performance

Shares of BCO opened at $111.89 on Wednesday. The Brink’s Company has a 12 month low of $64.15 and a 12 month high of $114.49. The stock has a fifty day moving average price of $106.00 and a 200-day moving average price of $98.97. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 7.78. The firm has a market cap of $4.97 billion, a PE ratio of 42.87 and a beta of 1.43.

Brink’s (NYSE:BCO) last issued its quarterly earnings results on Wednesday, August 7th. The business services provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.20. Brink’s had a return on equity of 69.80% and a net margin of 2.73%. 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 company earned $1.18 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Equities research analysts predict that The Brink’s Company will post 7.51 earnings per share for the current fiscal year.

Brink’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 0.87%. Brink’s’s payout ratio is 37.16%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com raised Brink’s from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 16th. Truist Financial boosted their target price on shares of Brink’s from $110.00 to $144.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $123.50.

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.