Brink’s (BCO) Shares Bought by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. grew its position in Brink’s (NYSE:BCO) by 12.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 539,000 shares of the business services provider’s stock after buying an additional 59,000 shares during the period. Pictet Asset Management Ltd. owned approximately 1.06% of Brink’s worth $37,595,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in BCO. Amalgamated Bank grew its holdings in Brink’s by 23.4% in the 2nd quarter. Amalgamated Bank now owns 8,210 shares of the business services provider’s stock worth $655,000 after buying an additional 1,558 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Brink’s by 498.0% in the second quarter. Parallel Advisors LLC now owns 1,477 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 1,230 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Brink’s by 30.2% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,586 shares of the business services provider’s stock valued at $525,000 after purchasing an additional 1,529 shares in the last quarter. TD Asset Management Inc. lifted its holdings in shares of Brink’s by 18.9% in the second quarter. TD Asset Management Inc. now owns 44,094 shares of the business services provider’s stock valued at $3,516,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new stake in shares of Brink’s in the second quarter valued at $17,890,000. 99.22% of the stock is owned by institutional investors.

Several brokerages recently issued reports on BCO. Zacks Investment Research lowered Brink’s from a “hold” rating to a “sell” rating in a report on Wednesday, September 26th. SunTrust Banks cut their price objective on Brink’s to $90.00 and set a “buy” rating for the company in a report on Monday, October 15th. ValuEngine upgraded Brink’s from a “sell” rating to a “hold” rating in a report on Saturday, October 27th. Finally, Berenberg Bank began coverage on Brink’s in a report on Wednesday, September 12th. They set a “buy” rating and a $90.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. Brink’s presently has a consensus rating of “Buy” and a consensus target price of $94.33.

In other Brink’s news, CFO Ronald James Domanico purchased 2,000 shares of the stock in a transaction dated Friday, September 7th. The shares were bought at an average cost of $69.45 per share, with a total value of $138,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.48% of the company’s stock.

NYSE BCO opened at $70.82 on Friday. Brink’s has a fifty-two week low of $61.47 and a fifty-two week high of $88.10. The company has a debt-to-equity ratio of 5.89, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 1.36 and a beta of 1.60.

Brink’s (NYSE:BCO) last posted its earnings results on Wednesday, October 24th. The business services provider reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.11. Brink’s had a positive return on equity of 56.86% and a negative net margin of 3.46%. The company had revenue of $852.00 million for the quarter, compared to analyst estimates of $843.96 million. During the same period last year, the company earned $0.83 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. Analysts anticipate that Brink’s will post 3.32 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Friday, November 9th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, November 8th. Brink’s’s dividend payout ratio is currently 19.80%.

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About Brink’s

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

Further Reading: What is Cost of Capital?

Institutional Ownership by Quarter for Brink`s (NYSE:BCO)

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