First Manhattan CO. LLC. Lowers Stock Position in Brink’s Company (The) $BCO

First Manhattan CO. LLC. cut its holdings in shares of Brink’s Company (The) (NYSE:BCO) by 6.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,387 shares of the business services provider’s stock after selling 670 shares during the period. First Manhattan CO. LLC.’s holdings in Brink’s were worth $809,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BCO. Aquatic Capital Management LLC purchased a new position in shares of Brink’s during the fourth quarter worth approximately $56,000. Northern Trust Corp grew its position in Brink’s by 14.0% in the 4th quarter. Northern Trust Corp now owns 613,301 shares of the business services provider’s stock valued at $56,896,000 after buying an additional 75,138 shares during the last quarter. Algert Global LLC grew its position in Brink’s by 66.5% in the 4th quarter. Algert Global LLC now owns 10,101 shares of the business services provider’s stock valued at $937,000 after buying an additional 4,035 shares during the last quarter. Ameriprise Financial Inc. grew its position in Brink’s by 210.0% in the 4th quarter. Ameriprise Financial Inc. now owns 198,656 shares of the business services provider’s stock valued at $18,429,000 after buying an additional 134,582 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in Brink’s by 26.1% in the 4th quarter. Cetera Investment Advisers now owns 2,732 shares of the business services provider’s stock valued at $253,000 after buying an additional 565 shares during the last quarter. 94.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Brink’s from a “hold” rating to a “strong-buy” rating in a research report on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $138.00.

Brink’s Price Performance

Shares of NYSE BCO opened at $112.44 on Thursday. The firm has a market capitalization of $4.68 billion, a P/E ratio of 30.39 and a beta of 1.48. Brink’s Company has a one year low of $80.10 and a one year high of $115.91. The company’s fifty day moving average is $99.50 and its two-hundred day moving average is $91.64. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.51 and a current ratio of 1.51.

Brink’s (NYSE:BCO) last issued its earnings results on Wednesday, August 6th. The business services provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.43 by $0.36. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.27 billion. Brink’s had a net margin of 3.21% and a return on equity of 86.86%. The business’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 EPS. Analysts forecast that Brink’s Company will post 6.49 EPS for the current fiscal year.

Brink’s Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Monday, July 28th were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, July 28th. Brink’s’s payout ratio is presently 27.57%.

Insider Activity at Brink’s

In other news, insider Michael E. Sweeney sold 746 shares of Brink’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $115.00, for a total transaction of $85,790.00. Following the completion of the transaction, the insider owned 7,785 shares of the company’s stock, valued at $895,275. The trade was a 8.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Daniel J. Castillo sold 21,700 shares of Brink’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $109.70, for a total value of $2,380,490.00. Following the transaction, the executive vice president directly owned 22,188 shares of the company’s stock, valued at $2,434,023.60. This trade represents a 49.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,058 shares of company stock valued at $2,946,513 over the last 90 days. Company insiders own 0.72% of the company’s stock.

Brink’s Profile

The Brink’s Co engages in providing cash management services, digital retail solutions, and ATM managed services. It operates through the following geographical segments: North America, Latin America, Europe, and Rest of World. The North America segment operates in the U.S. and Canada. The Latin America segment refers to the operations in Latin American countries.