Sound Income Strategies LLC Acquires 8,352 Shares of The Brink’s Company (NYSE:BCO)

Sound Income Strategies LLC boosted its stake in The Brink’s Company (NYSE:BCO) by 13.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,930 shares of the business services provider’s stock after acquiring an additional 8,352 shares during the period. Sound Income Strategies LLC’s holdings in Brink’s were worth $6,487,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in BCO. First Horizon Advisors Inc. boosted its stake in shares of Brink’s by 200.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 610 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 407 shares in the last quarter. Quarry LP raised its position in shares of Brink’s by 21.4% in the 2nd quarter. Quarry LP now owns 852 shares of the business services provider’s stock worth $87,000 after acquiring an additional 150 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Brink’s by 137.2% in the 3rd quarter. GAMMA Investing LLC now owns 1,091 shares of the business services provider’s stock valued at $126,000 after purchasing an additional 631 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Brink’s during the second quarter valued at approximately $152,000. Finally, US Bancorp DE grew its stake in Brink’s by 7.1% in the third quarter. US Bancorp DE now owns 1,584 shares of the business services provider’s stock worth $183,000 after purchasing an additional 105 shares during the period. 94.96% of the stock is owned by hedge funds and other institutional investors.

Brink’s Stock Performance

Brink’s stock opened at $92.17 on Friday. The Brink’s Company has a twelve month low of $79.03 and a twelve month high of $115.91. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 8.76. The company has a market capitalization of $4.02 billion, a P/E ratio of 34.91 and a beta of 1.40. The stock’s 50 day moving average is $93.29 and its 200 day moving average is $101.70.

Brink’s (NYSE:BCO) last issued its quarterly earnings results on Wednesday, November 6th. The business services provider reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.28). The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.27 billion. Brink’s had a net margin of 2.37% and a return on equity of 71.46%. Brink’s’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 earnings per share. On average, equities research analysts predict that The Brink’s Company will post 6.51 earnings per share for the current fiscal year.

Brink’s Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 3rd will be issued a dividend of $0.2425 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, February 3rd. Brink’s’s payout ratio is 36.74%.

Analyst Upgrades and Downgrades

Separately, Truist Financial dropped their target price on shares of Brink’s from $144.00 to $138.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $120.50.

Insider Activity at Brink’s

In related news, EVP James K. Parks sold 4,000 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $96.51, for a total transaction of $386,040.00. Following the sale, the executive vice president now directly owns 11,103 shares of the company’s stock, valued at $1,071,550.53. This trade represents a 26.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.49% of the stock is owned by insiders.

About Brink’s

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.