State of New Jersey Common Pension Fund D Reduces Stock Position in The Brink’s Company (NYSE:BCO)

State of New Jersey Common Pension Fund D lowered its holdings in shares of The Brink’s Company (NYSE:BCO) by 46.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,506 shares of the business services provider’s stock after selling 16,376 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Brink’s were worth $1,895,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Arizona State Retirement System boosted its holdings in Brink’s by 1.1% during the 2nd quarter. Arizona State Retirement System now owns 12,521 shares of the business services provider’s stock valued at $1,282,000 after acquiring an additional 140 shares during the period. Retirement Systems of Alabama raised its position in Brink’s by 0.3% during the 1st quarter. Retirement Systems of Alabama now owns 56,573 shares of the business services provider’s stock valued at $5,226,000 after purchasing an additional 148 shares in the last quarter. Covestor Ltd raised its position in Brink’s by 154.8% during the 1st quarter. Covestor Ltd now owns 316 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 192 shares in the last quarter. Natixis Advisors LLC raised its position in Brink’s by 0.9% during the 2nd quarter. Natixis Advisors LLC now owns 21,543 shares of the business services provider’s stock valued at $2,206,000 after purchasing an additional 199 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in Brink’s by 2.2% during the 1st quarter. ProShare Advisors LLC now owns 10,235 shares of the business services provider’s stock valued at $946,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 94.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in 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 lifted their target price on Brink’s from $110.00 to $144.00 and gave the company a “buy” rating in a research report on Friday. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $123.50.

Brink’s Trading Up 1.0 %

BCO opened at $112.93 on Monday. The firm has a market cap of $5.02 billion, a price-to-earnings ratio of 43.27 and a beta of 1.43. 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 Brink’s Company has a 12 month low of $64.15 and a 12 month high of $113.63. The stock has a fifty day moving average price of $105.74 and a 200-day moving average price of $98.57.

Brink’s (NYSE:BCO) last released its quarterly earnings results on Wednesday, August 7th. The business services provider reported $1.67 EPS for the quarter, topping the consensus estimate of $1.47 by $0.20. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.26 billion. Brink’s had a return on equity of 69.80% and a net margin of 2.73%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 EPS. As a group, equities research analysts anticipate that The Brink’s Company will post 7.51 earnings per share for the current fiscal year.

Brink’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be given a dividend of $0.2425 per share. This represents a $0.97 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, November 4th. Brink’s’s dividend payout ratio 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.