Redmont Wealth Advisors LLC Acquires New Position in Brink’s Company (The) $BCO

Redmont Wealth Advisors LLC bought a new stake in Brink’s Company (The) (NYSE:BCO) during the 3rd quarter, Holdings Channel reports. The firm bought 4,250 shares of the business services provider’s stock, valued at approximately $497,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CenterBook Partners LP lifted its holdings in shares of Brink’s by 170.1% in the 3rd quarter. CenterBook Partners LP now owns 48,641 shares of the business services provider’s stock worth $5,684,000 after acquiring an additional 30,635 shares during the last quarter. JPMorgan Chase & Co. raised its position in Brink’s by 34.0% in the third quarter. JPMorgan Chase & Co. now owns 206,737 shares of the business services provider’s stock valued at $24,159,000 after purchasing an additional 52,444 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Brink’s by 20.2% during the third quarter. PNC Financial Services Group Inc. now owns 775 shares of the business services provider’s stock worth $91,000 after buying an additional 130 shares during the period. Connable Office Inc. acquired a new stake in shares of Brink’s in the third quarter valued at $257,000. Finally, Haven Private LLC raised its holdings in shares of Brink’s by 26.5% in the 3rd quarter. Haven Private LLC now owns 4,648 shares of the business services provider’s stock valued at $543,000 after buying an additional 973 shares during the period. Institutional investors and hedge funds own 94.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BCO shares. Weiss Ratings upgraded Brink’s from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 24th. Truist Financial increased their price target on shares of Brink’s from $138.00 to $163.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $163.00.

Insiders Place Their Bets

In other Brink’s news, insider Michael E. Sweeney sold 1,418 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $119.50, for a total transaction of $169,451.00. Following the transaction, the insider owned 5,755 shares of the company’s stock, valued at approximately $687,722.50. This trade represents a 19.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.49% of the stock is currently owned by company insiders.

Brink’s Stock Up 0.0%

BCO stock opened at $129.86 on Thursday. Brink’s Company has a fifty-two week low of $80.10 and a fifty-two week high of $133.62. The company’s 50 day moving average price is $123.78 and its 200 day moving average price is $116.32. The company has a debt-to-equity ratio of 9.14, a quick ratio of 1.46 and a current ratio of 1.46. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 33.21 and a beta of 1.09.

Brink’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Monday, February 2nd will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, February 2nd. Brink’s’s dividend payout ratio (DPR) is currently 26.09%.

Brink’s declared that its board has initiated a share repurchase program on Thursday, December 11th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the business services provider to buy up to 15.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Brink’s Company Profile

The Brink’s Company (NYSE: BCO) is a global leader in secure logistics and cash management solutions. The company provides a comprehensive suite of services that span armored transportation, cash-in-transit (CIT), ATM services, smart safe solutions, and valuables storage. Through its network of service centers and armored vehicles, Brink’s ensures the safe and efficient movement of currency, precious metals, and other high-value assets for banks, retailers, mints, and government agencies.

Brink’s armored transport operations are complemented by technology-driven cash management offerings, including deposit automation and secure vaulting.