Norges Bank Makes New Investment in The Brink’s Company (NYSE:BCO)

Norges Bank purchased a new stake in shares of The Brink’s Company (NYSE:BCO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 502,350 shares of the business services provider’s stock, valued at approximately $46,603,000. Norges Bank owned about 1.15% of Brink’s at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in BCO. Mather Group LLC. increased its stake in Brink’s by 146.2% during the 4th quarter. Mather Group LLC. now owns 293 shares of the business services provider’s stock valued at $27,000 after buying an additional 174 shares during the period. Sierra Ocean LLC bought a new position in shares of Brink’s in the fourth quarter valued at approximately $36,000. Golden State Wealth Management LLC acquired a new position in shares of Brink’s during the fourth quarter valued at approximately $55,000. First Horizon Advisors Inc. raised its holdings in Brink’s by 41.0% during the fourth quarter. First Horizon Advisors Inc. now owns 860 shares of the business services provider’s stock worth $80,000 after purchasing an additional 250 shares in the last quarter. Finally, KBC Group NV lifted its position in Brink’s by 61.6% in the fourth quarter. KBC Group NV now owns 1,721 shares of the business services provider’s stock worth $160,000 after purchasing an additional 656 shares during the period. 94.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Brink’s from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 8th.

Brink’s Stock Performance

NYSE:BCO opened at $84.53 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 8.76. The company has a 50-day moving average of $90.07 and a 200-day moving average of $96.38. The Brink’s Company has a twelve month low of $82.78 and a twelve month high of $115.91. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 32.02 and a beta of 1.42.

Brink’s (NYSE:BCO) last issued its earnings results on Wednesday, February 26th. The business services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.26. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Brink’s had a net margin of 2.37% and a return on equity of 71.46%. Analysts forecast that The Brink’s Company will post 6.49 earnings per share for the current fiscal year.

Brink’s Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 3rd were paid a $0.2425 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 1.15%. Brink’s’s dividend payout ratio is currently 26.87%.

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.