Principal Financial Group Inc. Sells 43,382 Shares of The Brink’s Company (NYSE:BCO)

Principal Financial Group Inc. decreased its position in The Brink’s Company (NYSE:BCO) by 25.8% during the third quarter, HoldingsChannel reports. The firm owned 124,599 shares of the business services provider’s stock after selling 43,382 shares during the quarter. Principal Financial Group Inc.’s holdings in Brink’s were worth $14,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Covestor Ltd lifted its position in shares of Brink’s by 154.8% during the 1st 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 last quarter. LRI Investments LLC bought a new position in Brink’s in the 1st quarter worth approximately $37,000. Headlands Technologies LLC acquired a new position in shares of Brink’s during the second quarter worth approximately $37,000. GAMMA Investing LLC boosted its position in shares of Brink’s by 119.0% in the second quarter. GAMMA Investing LLC now owns 460 shares of the business services provider’s stock valued at $47,000 after acquiring an additional 250 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Brink’s in the second quarter worth $47,000. 94.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on BCO shares. StockNews.com upgraded shares of Brink’s from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 16th. Truist Financial dropped their price objective 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Brink’s presently has an average rating of “Buy” and a consensus target price of $120.50.

Brink’s Price Performance

Shares of NYSE:BCO opened at $91.41 on Friday. The firm has a market capitalization of $3.99 billion, a PE ratio of 34.63 and a beta of 1.44. 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 Brink’s Company has a 1-year low of $75.41 and a 1-year high of $115.91. The business’s 50 day moving average is $107.09 and its 200-day moving average is $103.78.

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

Brink’s Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be paid a $0.2425 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.97 dividend on an annualized basis and a yield of 1.06%. Brink’s’s payout ratio is currently 36.74%.

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.