Channing Capital Management LLC Boosts Position 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 raised its position in Brink's Company (The) (NYSE:BCO - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 890,700 shares of the business services provider's stock after buying an additional 62,676 shares during the quarter. Brink's comprises about 2.3% of Channing Capital Management LLC's portfolio, making the stock its 10th largest position. Channing Capital Management LLC owned about 2.06% of Brink's worth $76,743,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Nomura Holdings Inc. bought a new position in Brink's in the 4th quarter valued at about $536,000. Principal Financial Group Inc. increased its holdings in 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 valued at $10,920,000 after buying an additional 1,441 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in 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 valued at $5,959,000 after buying an additional 9,541 shares during the period. GAMMA Investing LLC increased its holdings in Brink's by 16.2% in the 1st quarter. GAMMA Investing LLC now owns 1,081 shares of the business services provider's stock valued at $93,000 after buying an additional 151 shares during the period. Finally, KBC Group NV increased its holdings in Brink's by 26.1% in the 1st quarter. KBC Group NV now owns 2,170 shares of the business services provider's stock valued at $187,000 after buying an additional 449 shares during the period. 94.96% of the stock is owned by institutional investors.

Insider Activity at Brink's

In related news, Director Keith R. Wyche sold 475 shares of Brink's stock in a transaction that occurred 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 sale, the director directly owned 3,682 shares of the company's stock, valued at approximately $390,844.30. The trade was a 11.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arthelbert Louis Parker sold 540 shares of the business'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 transaction of $62,100.00. Following the sale, the director directly owned 6,603 shares in the company, valued at $759,345. The trade was a 7.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,058 shares of company stock valued at $2,946,513. Company insiders own 0.72% of the company's stock.

Brink's Price Performance

Shares of Brink's stock traded up $0.38 during midday trading on Tuesday, hitting $112.44. 118,542 shares of the company traded hands, compared to its average volume of 315,638. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 30.40 and a beta of 1.46. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.51 and a current ratio of 1.51. The firm's fifty day moving average price is $95.96 and its 200-day moving average price is $90.68. Brink's Company has a 12 month low of $80.10 and a 12 month high of $115.91.

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, beating 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 firm's revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.67 EPS. As a group, sell-side analysts forecast that Brink's Company will post 6.49 earnings per share for the current year.

Brink's Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.