PNC Financial Services Group Inc. Increases Position in Brunswick Co. (NYSE:BC)

PNC Financial Services Group Inc. increased its position in shares of Brunswick Co. (NYSE:BC) by 56.2% during the fourth quarter, Holdings Channel reports. The fund owned 5,537 shares of the company’s stock after acquiring an additional 1,992 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Brunswick were worth $358,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BC. Massachusetts Financial Services Co. MA boosted its holdings in shares of Brunswick by 17.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,090,078 shares of the company’s stock worth $259,010,000 after purchasing an additional 452,116 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Brunswick by 7.4% during the third quarter. JPMorgan Chase & Co. now owns 1,487,773 shares of the company’s stock worth $124,705,000 after buying an additional 102,780 shares during the period. Principal Financial Group Inc. boosted its stake in Brunswick by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,075,845 shares of the company’s stock worth $90,171,000 after buying an additional 28,781 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Brunswick by 16.7% in the 4th quarter. Bank of New York Mellon Corp now owns 766,509 shares of the company’s stock valued at $49,578,000 after buying an additional 109,728 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Brunswick by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 715,358 shares of the company’s stock valued at $46,269,000 after acquiring an additional 14,089 shares during the last quarter. 99.34% of the stock is owned by hedge funds and other institutional investors.

Brunswick Stock Performance

Brunswick stock opened at $56.38 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65. Brunswick Co. has a one year low of $54.97 and a one year high of $96.65. The stock’s 50 day moving average price is $63.54 and its 200 day moving average price is $72.73. The firm has a market capitalization of $3.71 billion, a PE ratio of 29.68 and a beta of 1.54.

Brunswick (NYSE:BC) last posted its earnings results on Thursday, January 30th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. Brunswick had a net margin of 2.48% and a return on equity of 15.41%. During the same quarter in the previous year, the company earned $1.45 EPS. As a group, sell-side analysts expect that Brunswick Co. will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 3.05%. This is a positive change from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, February 24th. Brunswick’s payout ratio is presently 90.53%.

Insider Buying and Selling

In other news, Director Nancy E. Cooper sold 433 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $65.65, for a total value of $28,426.45. Following the sale, the director now owns 25,361 shares in the company, valued at approximately $1,664,949.65. This represents a 1.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Randall S. Altman sold 3,417 shares of Brunswick stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total value of $215,988.57. Following the completion of the transaction, the senior vice president now owns 26,683 shares of the company’s stock, valued at $1,686,632.43. This trade represents a 11.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BC. DA Davidson decreased their target price on shares of Brunswick from $80.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 22nd. B. Riley raised shares of Brunswick to a “hold” rating in a research note on Wednesday, February 12th. Morgan Stanley increased their target price on Brunswick from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Truist Financial lowered their price target on Brunswick from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, Roth Mkm cut their price objective on Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.62.

Brunswick Company Profile

Brunswick Corporation designs, manufactures, and markets recreation products in the United States, Europe, the Asia-Pacific, Canada, and internationally. It operates through four segments: Propulsion, Engine P&A, Navico Group, and Boat. The Propulsion segment provides outboard, sterndrive, inboard engines, propulsion-related controls, rigging, and propellers for boat builders through marine retail dealers under the Mercury, Mercury MerCruiser, Mariner, Mercury Racing, Mercury Diesel, Avator, and Fliteboard brands.