On September 15, 2023, it was reported that the Ontario Teachers Pension Plan Board has significantly increased its stake in The Brink’s Company (NYSE:BCO). According to the company’s disclosure with the Securities and Exchange Commission (SEC), the institutional investor now owns 23,682 shares of Brink’s stock after purchasing an additional 15,552 shares during the first quarter. This increase represents a significant jump of 191.3% in their stake. At the end of the most recent quarter, Ontario Teachers Pension Plan Board’s ownership of Brink’s was valued at approximately $1,582,000.
A number of equities research analysts have recently released reports on The Brink’s Company. In a research note published on Tuesday, StockNews.com downgraded their rating for Brink’s from “strong-buy” to “buy”. On Thursday, August 10th, The Goldman Sachs Group also weighed in on Brink’s by increasing their price target from $81.00 to $92.00 and giving the company a “buy” rating.
The trading session on Friday saw Brink’s stock open at $77.13. Over the past year, The Brink’s Company has reached a low of $48.38 and a high of $77.46 in terms of its share price. Currently, the firm holds a fifty-day moving average price of $72.18 and a two-hundred-day moving average price of $68.40. With a market capitalization of approximately $3.58 billion, Brink’s boasts a P/E ratio of 32.14 and a beta value of 1.34 which indicates higher volatility compared to the overall market trend.
In terms of financial ratios, The Brink’s Company has reported having a debt-to-equity ratio of 4.89 which reflects its relatively higher leverage position compared to industry peers. However, the company maintains a quick ratio of 1.55 and a current ratio of 1.55 which indicates that it has sufficient short-term liquidity to meet its obligations.
The Ontario Teachers Pension Plan Board’s notable increase in their stake in The Brink’s Company demonstrates their confidence in the business services provider. With positive ratings from analysts and a steady stock performance, Brink’s appears to be attracting investor attention. It will be interesting to monitor future developments and see how the company continues to grow in the coming months.
The Brink's Company
BCO
Strong Buy
Updated on: 03/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Institutional Investors Demonstrate Confidence in Brink’s Company with Increased Positions
September 15, 2023 – The Brink’s Company, a renowned business services provider, has recently experienced changes in its position due to alterations made by hedge funds and institutional investors. One notable change comes from JPMorgan Chase & Co., which increased its position in Brink’s shares by 38.9% during the first quarter. As a result, JPMorgan now owns 219,320 shares of the company’s stock valued at $14,913,000.
Similarly, Raymond James & Associates lifted its stake in Brink’s by 16.0% during the same period and now owns 34,178 shares worth $2,324,000. Bank of Montreal Can showed a smaller increase of 10.1%, acquiring an additional 397 shares valued at $296,000. Rhumbline Advisers also saw growth in their position by 2.9%, now owning 151,123 shares worth $10,276,000.
Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted their position by 10.5% as they purchased an additional 1,717 shares worth $1,225,000.
Based on these changes, it can be inferred that institutional investors are recognizing the potential value of investing in Brink’s Corporation.
In other news related to Brink’s Company stock trades, Director Arthelbert Louis Parker sold 1,650 shares on August 24th for a total value of $122,100 at an average price of $74 per share. Mr. Parker currently holds direct ownership of approximately 3,036 shares valued at $224,664.
Turning to analyst reports on Brink’s recent performance reveals that StockNews.com lowered its rating from “strong-buy” to “buy” in their research note published on Tuesday.
On the other hand, The Goldman Sachs Group raised their price target for Brink’s from $81.00 to $92.00 and maintained a “buy” rating on Thursday, August 10th.
Brink’s Quarterly Earnings Results
In terms of financial performance, Brink’s released its quarterly earnings results on Wednesday, August 9th. The company reported earnings per share (EPS) of $1.18 for the quarter, falling short of the consensus estimate by ($0.15). Revenue for the quarter stood at $1.22 billion compared to an estimated $1.21 billion.
Brink’s showcased a return on equity of 50.85% with a net margin of 2.40%. The company experienced a 7.2% increase in revenue on a year-over-year basis; however, it earned $1.29 EPS during the same period last year.
Analysts predict that The Brink’s Company will post earnings per share of 6.8 for the current fiscal year based on their average estimates.
Dividend Information
Furthermore, Brink’s recently disclosed a quarterly dividend which was paid to stockholders on September 1st, with a record date backdated to Monday, July 31st. This dividend amounted to $0.22 per share for shareholders and represents an annualized dividend yield of 1.14%.
Overall, these recent activities involving institutional investors, director transactions, analyst ratings, and earnings reports indicate both positive and negative aspects surrounding Brink’s Corporation stock performance.
Sources:
– Securities & Exchange Commission website
– StockNews.com
– Goldman Sachs Group research report
Discussion about this post