Raymond James Financial Inc. Buys 15,996 Shares of Brink's Company (The) $BCO

Key Points

• Raymond James Financial Inc. increased its stake in Brink's Company by 18.0%, owning approximately 105,005 shares valued at $9.05 million as of the latest quarter.
• Brink's reported $1.79 earnings per share for the last quarter, exceeding analysts' expectations and reflecting a 3.8% annual revenue increase to $1.30 billion.
• The company declared a quarterly dividend of $0.255 per share, representing a yield of 0.9%, with a dividend payout ratio of 27.57%.

Raymond James Financial Inc. increased its stake in shares of Brink's Company (The) (NYSE:BCO - Free Report) by 18.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 105,005 shares of the business services provider's stock after purchasing an additional 15,996 shares during the quarter. Raymond James Financial Inc. owned 0.24% of Brink's worth $9,047,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. American Century Companies Inc. increased its position in shares of Brink's by 1.9% during the 1st quarter. American Century Companies Inc. now owns 1,525,099 shares of the business services provider's stock valued at $131,403,000 after purchasing an additional 28,439 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Brink's by 11.8% during the 1st quarter. Russell Investments Group Ltd. now owns 23,279 shares of the business services provider's stock valued at $2,006,000 after purchasing an additional 2,458 shares during the last quarter. Nuveen LLC bought a new position in shares of Brink's during the 1st quarter valued at approximately $9,929,000. Ontario Teachers Pension Plan Board bought a new position in shares of Brink's during the 1st quarter valued at approximately $338,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Brink's by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 546,372 shares of the business services provider's stock valued at $47,075,000 after purchasing an additional 4,524 shares during the last quarter. Institutional investors own 94.96% of the company's stock.

Insider Transactions at Brink's

In other Brink's news, EVP Daniel J. Castillo sold 21,700 shares of the company's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $109.70, for a total value of $2,380,490.00. Following the completion of the sale, the executive vice president directly owned 22,188 shares in the company, valued at approximately $2,434,023.60. This represents a 49.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael E. Sweeney sold 746 shares of the company's stock in a transaction 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 owned 7,785 shares of the company's stock, valued at $895,275. This represents a 8.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,058 shares of company stock valued at $2,946,513 over the last 90 days. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded 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.com, the company currently has an average rating of "Buy" and a consensus price target of $138.00.

Brink's Stock Up 0.8%

Shares of BCO stock traded up $0.89 during mid-day trading on Thursday, hitting $113.54. The stock had a trading volume of 227,983 shares, compared to its average volume of 316,058. Brink's Company has a 12-month low of $80.10 and a 12-month high of $115.91. The firm has a market capitalization of $4.73 billion, a P/E ratio of 30.68 and a beta of 1.48. The firm's 50-day moving average is $99.50 and its two-hundred day moving average is $91.64. The company has a debt-to-equity ratio of 9.84, a current ratio of 1.51 and a quick ratio of 1.51.

Brink's (NYSE:BCO - Get Free Report) last issued its earnings results 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 period in the prior year, the business earned $1.67 EPS. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts predict that Brink's Company will post 6.49 earnings per share for the current fiscal year.

Brink's Dividend Announcement

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

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.