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

Key Points

• Allspring Global Investments reduced its stake in Brink's Company by 39.2% during the 2nd quarter, now holding 0.10% of the company valued at approximately $3.8 million after selling over 26,000 shares.
• Brink's reported earnings of $1.79 per share, exceeding analysts' expectations of $1.43, with revenues reaching $1.30 billion, up 3.8% from the previous year.
• The company declared a quarterly dividend of $0.255 per share, with the ex-dividend date set for November 3rd, representing a 0.9% dividend yield.

Allspring Global Investments Holdings LLC reduced its position in shares of Brink's Company (The) (NYSE:BCO - Free Report) by 39.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,802 shares of the business services provider's stock after selling 26,284 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.10% of Brink's worth $3,788,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. CWM LLC lifted its stake in Brink's by 53.8% in the 2nd quarter. CWM LLC now owns 512 shares of the business services provider's stock valued at $46,000 after buying an additional 179 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new position in Brink's in the 2nd quarter valued at about $32,000. Inspire Investing LLC lifted its stake in Brink's by 9.4% in the 2nd quarter. Inspire Investing LLC now owns 4,383 shares of the business services provider's stock valued at $391,000 after buying an additional 376 shares in the last quarter. Blue Trust Inc. lifted its stake in Brink's by 10.2% in the 2nd quarter. Blue Trust Inc. now owns 1,993 shares of the business services provider's stock valued at $178,000 after buying an additional 185 shares in the last quarter. Finally, KLP Kapitalforvaltning AS lifted its stake in Brink's by 2.3% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 9,000 shares of the business services provider's stock valued at $804,000 after buying an additional 200 shares in the last quarter. 94.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Michael E. Sweeney sold 746 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $115.00, for a total transaction of $85,790.00. Following the completion of the sale, the insider owned 7,785 shares in the company, valued at $895,275. This trade represents a 8.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith R. Wyche sold 475 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $106.15, for a total transaction of $50,421.25. Following the sale, the director owned 3,682 shares of the company's stock, valued at $390,844.30. This represents a 11.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,570 shares of company stock worth $2,900,153 over the last quarter. 0.49% of the stock is currently owned by corporate insiders.

Brink's Trading Up 1.9%

BCO opened at $113.71 on Tuesday. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.51 and a quick ratio of 1.51. The company's 50 day simple moving average is $113.50 and its two-hundred day simple moving average is $97.64. Brink's Company has a 1-year low of $80.10 and a 1-year high of $118.60. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 30.73 and a beta of 1.44.

Brink's (NYSE:BCO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The business services provider reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.36. The business had revenue of $1.30 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the firm earned $1.67 EPS. Analysts expect that Brink's Company will post 6.49 EPS for the current fiscal year.

Brink's Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 3rd will be issued a dividend of $0.255 per share. The ex-dividend date is Monday, November 3rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 0.9%. Brink's's dividend payout ratio (DPR) is currently 27.57%.

Analyst Ratings Changes

A number of brokerages recently weighed in on BCO. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Brink's in a research note on Wednesday, October 8th. Zacks Research lowered shares of Brink's from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 6th. Finally, Wall Street Zen raised shares of Brink's from a "hold" rating to a "strong-buy" rating in a research note on Sunday, August 10th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Brink's currently has an average rating of "Hold" and a consensus target price of $138.00.

Brink's Company 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.

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