Allspring Global Investments Holdings LLC Has $2.21 Million Stake in Brink's Company (The) $BCO

Key Points

• Allspring Global Investments cut its stake in Brink's by 57.5% in Q4, selling 25,660 shares and holding 18,951 shares worth about $2.21 million per its SEC filing.
• Brink's beat quarterly estimates with EPS of $2.54 versus $2.47 expected and reported revenue of $1.38 billion, up 9.1% year-over-year.
• The board authorized a $750 million share repurchase program, enabling buybacks of up to 15.4% of outstanding shares.

Allspring Global Investments Holdings LLC decreased its holdings in shares of Brink's Company (The) (NYSE:BCO - Free Report) by 57.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,951 shares of the business services provider's stock after selling 25,660 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Brink's were worth $2,207,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BCO. Caldwell Trust Co acquired a new position in Brink's during the second quarter worth $27,000. Advisory Services Network LLC acquired a new stake in Brink's in the third quarter valued at $33,000. Mather Group LLC. acquired a new stake in Brink's in the third quarter valued at $34,000. Optiver Holding B.V. lifted its stake in Brink's by 42.9% in the third quarter. Optiver Holding B.V. now owns 353 shares of the business services provider's stock valued at $41,000 after acquiring an additional 106 shares during the last quarter. Finally, Wexford Capital LP acquired a new stake in Brink's in the third quarter valued at $42,000. Institutional investors and hedge funds own 94.96% of the company's stock.

Brink's Stock Performance

Shares of BCO stock opened at $106.14 on Thursday. The stock has a market cap of $4.37 billion, a P/E ratio of 22.63 and a beta of 1.12. The company has a debt-to-equity ratio of 9.35, a current ratio of 1.51 and a quick ratio of 1.51. The company has a fifty day moving average price of $116.96 and a two-hundred day moving average price of $116.62. Brink's Company has a one year low of $80.10 and a one year high of $136.37.

Brink's (NYSE:BCO - Get Free Report) last posted its earnings results on Thursday, February 26th. The business services provider reported $2.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.07. The company had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.35 billion. Brink's had a net margin of 3.80% and a return on equity of 89.90%. Brink's's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.12 EPS. As a group, equities analysts predict that Brink's Company will post 6.49 EPS for the current year.

Brink's Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Stockholders of record on Monday, February 2nd were paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Monday, February 2nd. Brink's's dividend payout ratio (DPR) is currently 21.75%.

Brink's announced that its board has initiated a share repurchase program on Thursday, December 11th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the business services provider to reacquire up to 15.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have commented on BCO shares. Wall Street Zen upgraded shares of Brink's from a "buy" rating to a "strong-buy" rating in a research note on Sunday, March 15th. Truist Financial increased their price target on shares of Brink's from $138.00 to $163.00 and gave the company a "buy" rating in a research note on Tuesday, February 10th. Finally, The Goldman Sachs Group increased their price target on shares of Brink's from $129.00 to $145.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Brink's has a consensus rating of "Moderate Buy" and an average target price of $154.00.

Brink's Profile

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.

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