Channing Capital Management LLC Has $76.74 Million Holdings in Brink's Company (The) $BCO

Key Points

• Channing Capital Management LLC raised its stake in Brink's Company by 7.6% during Q1, now owning approximately 2.06% of the company, valued at $76.7 million.
• Brink's received a new rating upgrade from "hold" to "strong-buy" from Wall Street Zen, with an average target price set at $138.00.
• The company reported a quarterly earnings per share of $1.79, exceeding the consensus estimate of $1.43, with a year-over-year revenue increase of 3.8%.

Channing Capital Management LLC increased its holdings in Brink's Company (The) (NYSE:BCO - Free Report) by 7.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 890,700 shares of the business services provider's stock after purchasing an additional 62,676 shares during the quarter. Brink's accounts for 2.3% of Channing Capital Management LLC's holdings, making the stock its 10th biggest position. Channing Capital Management LLC owned about 2.06% of Brink's worth $76,743,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nomura Holdings Inc. acquired a new position in shares of Brink's in the 4th quarter worth $536,000. Principal Financial Group Inc. grew its holdings in shares of Brink's by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 126,741 shares of the business services provider's stock worth $10,920,000 after acquiring an additional 1,441 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Brink's by 16.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 67,086 shares of the business services provider's stock worth $5,959,000 after acquiring an additional 9,541 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Brink's by 16.2% in the 1st quarter. GAMMA Investing LLC now owns 1,081 shares of the business services provider's stock worth $93,000 after acquiring an additional 151 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Brink's by 26.1% during the first quarter. KBC Group NV now owns 2,170 shares of the business services provider's stock valued at $187,000 after acquiring an additional 449 shares during the period. 94.96% of the stock is currently owned by institutional investors.

Brink's Stock Performance

Shares of NYSE BCO traded down $1.1560 during trading hours on Monday, hitting $112.0240. 173,627 shares of the company's stock were exchanged, compared to its average volume of 316,883. Brink's Company has a 1-year low of $80.10 and a 1-year high of $115.91. 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 stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 30.28 and a beta of 1.46. The company's 50-day moving average price is $95.43 and its 200-day moving average price is $90.54.

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. Brink's had a return on equity of 86.86% and a net margin of 3.21%.The business had revenue of $1.30 billion during the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter in the previous year, the firm earned $1.67 EPS. The firm's revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts expect that Brink's Company will post 6.49 earnings per share for the current fiscal year.

Brink's Announces Dividend

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

Insider Activity at Brink's

In other Brink's news, Director Arthelbert Louis Parker sold 540 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $115.00, for a total value of $62,100.00. Following the completion of the sale, the director directly owned 6,603 shares of the company's stock, valued at $759,345. This represents a 7.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Keith R. Wyche sold 475 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $106.15, for a total transaction of $50,421.25. Following the completion of the sale, the director directly owned 3,682 shares of the company's stock, valued at approximately $390,844.30. This trade represents a 11.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,058 shares of company stock valued at $2,946,513 in the last quarter. Company insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Brink's from a "hold" rating to a "strong-buy" rating in a report on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $138.00.

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.