Northern Trust Corp Reduces Position in Brink's Company (The) $BCO

Key Points

• Northern Trust Corp reduced its stake in Brink's Company by 3.8%, selling 23,424 shares, and now holds approximately 1.37% of the company valued at $50.8 million.
• Brink's received an upgrade from Wall Street Zen, moving from a "hold" to a "strong-buy" rating, with a consensus price target of $138.00.
• The company reported earnings of $1.79 per share for the quarter, beating estimates by $0.36, alongside a revenue of $1.30 billion, reflecting a 3.8% increase year-over-year.

Northern Trust Corp cut its stake in shares of Brink's Company (The) (NYSE:BCO - Free Report) by 3.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 589,877 shares of the business services provider's stock after selling 23,424 shares during the period. Northern Trust Corp owned 1.37% of Brink's worth $50,824,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Corient IA LLC bought a new stake in shares of Brink's during the first quarter valued at about $302,000. Raymond James Financial Inc. increased its position in shares of Brink's by 18.0% during the first quarter. Raymond James Financial Inc. now owns 105,005 shares of the business services provider's stock valued at $9,047,000 after buying an additional 15,996 shares during the period. American Century Companies Inc. increased its position in shares of Brink's by 1.9% during the first quarter. American Century Companies Inc. now owns 1,525,099 shares of the business services provider's stock valued at $131,403,000 after buying an additional 28,439 shares during the period. Russell Investments Group Ltd. increased its position in shares of Brink's by 11.8% during the first quarter. Russell Investments Group Ltd. now owns 23,279 shares of the business services provider's stock valued at $2,006,000 after buying an additional 2,458 shares during the period. Finally, Nuveen LLC bought a new position in shares of Brink's in the first quarter worth approximately $9,929,000. 94.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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 research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $138.00.

Brink's Price Performance

Shares of BCO stock traded up $1.23 during trading on Tuesday, hitting $113.27. The company had a trading volume of 323,279 shares, compared to its average volume of 378,262. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 9.84. The stock's 50-day moving average is $99.03 and its two-hundred day moving average is $91.49. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 30.61 and a beta of 1.48. Brink's Company has a 52 week low of $80.10 and a 52 week high of $115.91.

Brink's (NYSE:BCO - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The business services provider reported $1.79 earnings per share 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 analysts' expectations of $1.27 billion. Brink's had a net margin of 3.21% and a return on equity of 86.86%. Brink's's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.67 earnings per share. As a group, analysts predict that Brink's Company will post 6.49 EPS for the current fiscal year.

Brink's Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, July 28th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Monday, July 28th. This represents a $1.02 annualized dividend and a yield of 0.9%. Brink's's dividend payout ratio is currently 27.57%.

Insider Transactions at Brink's

In other Brink's news, Director Keith R. Wyche sold 475 shares of the company'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 value of $50,421.25. Following the completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael E. Sweeney sold 746 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $115.00, for a total value of $85,790.00. Following the completion of the sale, the insider directly owned 7,785 shares of the company's stock, valued at approximately $895,275. This represents a 8.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,058 shares of company stock worth $2,946,513 in the last three months. Corporate insiders own 0.72% of the company's stock.

About Brink's

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.