CenterBook Partners LP Boosts Stock Holdings in Brink’s Company (The) $BCO

CenterBook Partners LP lifted its position in Brink’s Company (The) (NYSE:BCO) by 170.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,641 shares of the business services provider’s stock after acquiring an additional 30,635 shares during the quarter. CenterBook Partners LP owned approximately 0.12% of Brink’s worth $5,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caldwell Trust Co purchased a new stake in Brink’s in the 2nd quarter valued at about $27,000. Mather Group LLC. bought a new position in shares of Brink’s in the third quarter valued at approximately $34,000. CWM LLC grew its holdings in shares of Brink’s by 53.8% in the second quarter. CWM LLC now owns 512 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 179 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Brink’s by 161.5% during the second quarter. EverSource Wealth Advisors LLC now owns 523 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 323 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of Brink’s by 120.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 401 shares of the business services provider’s stock worth $47,000 after purchasing an additional 219 shares during the period. 94.96% of the stock is currently owned by hedge funds and other institutional investors.

Brink’s Trading Down 0.6%

Shares of BCO stock opened at $129.88 on Wednesday. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 33.22 and a beta of 1.09. The company’s fifty day simple moving average is $123.52 and its two-hundred day simple moving average is $116.22. Brink’s Company has a 1 year low of $80.10 and a 1 year high of $133.62. The company has a debt-to-equity ratio of 9.14, a current ratio of 1.46 and a quick ratio of 1.46.

Brink’s Announces Dividend

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

Brink’s announced that its board has authorized a share buyback program on Thursday, December 11th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the business services provider to reacquire up to 15.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Truist Financial lifted their price target on shares of Brink’s from $138.00 to $163.00 and gave the stock a “buy” rating in a report on Tuesday, February 10th. Weiss Ratings upgraded Brink’s from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, October 24th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $163.00.

Insider Buying and Selling

In other news, insider Michael E. Sweeney sold 1,418 shares of the company’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $119.50, for a total transaction of $169,451.00. Following the sale, the insider directly owned 5,755 shares in the company, valued at $687,722.50. This represents a 19.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by corporate insiders.

About Brink’s

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.