The Brink’s Company (NYSE:BCO) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lessened its stake in The Brink’s Company (NYSE:BCO) by 15.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,348 shares of the business services provider’s stock after selling 423 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Brink’s were worth $272,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC purchased a new position in Brink’s in the second quarter worth approximately $37,000. MFA Wealth Advisors LLC purchased a new stake in shares of Brink’s during the 2nd quarter worth $47,000. First Horizon Advisors Inc. grew its stake in shares of Brink’s by 200.5% during the third quarter. First Horizon Advisors Inc. now owns 610 shares of the business services provider’s stock worth $71,000 after purchasing an additional 407 shares in the last quarter. Rothschild Investment LLC purchased a new position in Brink’s in the second quarter valued at $85,000. Finally, Quarry LP raised its stake in Brink’s by 21.4% in the second quarter. Quarry LP now owns 852 shares of the business services provider’s stock valued at $87,000 after buying an additional 150 shares in the last quarter. 94.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Brink’s Price Performance

Shares of BCO opened at $96.58 on Tuesday. The company has a debt-to-equity ratio of 8.76, a current ratio of 1.57 and a quick ratio of 1.57. The Brink’s Company has a 1-year low of $79.03 and a 1-year high of $115.91. The stock has a market cap of $4.21 billion, a PE ratio of 36.58 and a beta of 1.40. The firm has a fifty day moving average price of $100.52 and a 200 day moving average price of $103.62.

Brink’s (NYSE:BCO) last announced its earnings results on Wednesday, November 6th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.28). The firm had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.27 billion. Brink’s had a net margin of 2.37% and a return on equity of 71.46%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period last year, the company earned $1.92 earnings per share. As a group, sell-side analysts anticipate that The Brink’s Company will post 6.51 EPS for the current year.

Brink’s Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 4th were given a $0.2425 dividend. The ex-dividend date was Monday, November 4th. This represents a $0.97 annualized dividend and a yield of 1.00%. Brink’s’s dividend payout ratio (DPR) is 36.74%.

Insider Buying and Selling

In other news, EVP James K. Parks sold 4,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $96.51, for a total transaction of $386,040.00. Following the completion of the sale, the executive vice president now owns 11,103 shares in the company, valued at approximately $1,071,550.53. This represents a 26.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.49% of the stock is owned by company insiders.

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.