Connable Office Inc. Sells 1,651 Shares of The Brink’s Company (NYSE:BCO)

Connable Office Inc. cut its position in shares of The Brink’s Company (NYSE:BCO) by 36.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,900 shares of the business services provider’s stock after selling 1,651 shares during the period. Connable Office Inc.’s holdings in Brink’s were worth $297,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Covestor Ltd boosted its position in Brink’s by 154.8% during the first quarter. Covestor Ltd now owns 316 shares of the business services provider’s stock worth $29,000 after purchasing an additional 192 shares during the period. LRI Investments LLC bought a new stake in shares of Brink’s during the 1st quarter worth about $37,000. GAMMA Investing LLC grew its stake in Brink’s by 119.0% in the 2nd quarter. GAMMA Investing LLC now owns 460 shares of the business services provider’s stock valued at $47,000 after buying an additional 250 shares during the last quarter. MFA Wealth Advisors LLC acquired a new position in Brink’s in the 2nd quarter valued at about $47,000. Finally, Mitsubishi UFJ Trust & Banking Corp bought a new position in Brink’s in the 1st quarter valued at about $49,000. 94.96% of the stock is owned by institutional investors.

Brink’s Stock Performance

NYSE BCO opened at $104.51 on Tuesday. The firm has a 50-day moving average price of $104.43 and a two-hundred day moving average price of $96.82. The Brink’s Company has a 12-month low of $64.15 and a 12-month high of $113.63. The company has a market capitalization of $4.61 billion, a P/E ratio of 40.04 and a beta of 1.43. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 7.78.

Brink’s (NYSE:BCO) last issued its quarterly earnings results on Wednesday, August 7th. The business services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.20. Brink’s had a return on equity of 69.80% and a net margin of 2.73%. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company posted $1.18 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts anticipate that The Brink’s Company will post 7.51 earnings per share for the current year.

Brink’s Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Monday, July 29th were given a dividend of $0.2425 per share. The ex-dividend date was Monday, July 29th. This represents a $0.97 annualized dividend and a yield of 0.93%. Brink’s’s dividend payout ratio is 37.16%.

Analyst Upgrades and Downgrades

BCO has been the topic of several research reports. William Blair began coverage on Brink’s in a research report on Tuesday, May 21st. They issued an “outperform” rating on the stock. StockNews.com raised Brink’s from a “buy” rating to a “strong-buy” rating in a report on Friday, August 16th. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $106.50.

Brink’s Profile

The Brink's Company provides secure transportation, cash management, and other security-related services in North America, Latin America, Europe, and internationally. The company offers armored vehicle transportation of valuables; automated teller machine (ATM) management services, such as cash replenishment, cash forecasting, cash optimization, ATM remote monitoring, service call dispatching, transaction processing, installation, and first line maintenance services; and cash-in-transit services.