Envestnet Portfolio Solutions Inc. Grows Position in Brunswick Co. (NYSE:BC)

Envestnet Portfolio Solutions Inc. grew its position in shares of Brunswick Co. (NYSE:BC) by 11.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,431 shares of the company’s stock after acquiring an additional 572 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Brunswick were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Armstrong Advisory Group Inc. bought a new stake in Brunswick during the fourth quarter worth $39,000. Financial Perspectives Inc bought a new stake in shares of Brunswick during the 4th quarter worth $42,000. KBC Group NV boosted its holdings in shares of Brunswick by 42.8% in the 4th quarter. KBC Group NV now owns 2,892 shares of the company’s stock worth $187,000 after buying an additional 867 shares during the last quarter. Verdence Capital Advisors LLC bought a new position in Brunswick during the fourth quarter valued at about $273,000. Finally, Paloma Partners Management Co purchased a new stake in Brunswick during the third quarter worth about $313,000. Institutional investors own 99.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Robert W. Baird set a $90.00 target price on shares of Brunswick in a research report on Friday, January 31st. B. Riley raised Brunswick to a “hold” rating in a report on Wednesday, February 12th. Truist Financial lowered their target price on Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Benchmark cut their price target on Brunswick from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Finally, DA Davidson lowered their price objective on Brunswick from $80.00 to $60.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.62.

Insider Activity at Brunswick

In related news, SVP Randall S. Altman sold 3,417 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total transaction of $215,988.57. Following the transaction, the senior vice president now directly owns 26,683 shares of the company’s stock, valued at approximately $1,686,632.43. This trade represents a 11.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Nancy E. Cooper sold 433 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $65.65, for a total value of $28,426.45. Following the completion of the sale, the director now owns 25,361 shares of the company’s stock, valued at $1,664,949.65. The trade was a 1.68 % decrease in their position. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by insiders.

Brunswick Price Performance

Shares of NYSE:BC opened at $56.02 on Friday. Brunswick Co. has a 12 month low of $54.97 and a 12 month high of $96.65. The company has a current ratio of 1.65, a quick ratio of 0.63 and a debt-to-equity ratio of 1.11. The stock has a market cap of $3.69 billion, a P/E ratio of 29.48 and a beta of 1.54. The company has a 50 day moving average of $62.63 and a 200 day moving average of $72.01.

Brunswick (NYSE:BC) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate 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 period in the previous year, the company earned $1.45 EPS. As a group, sell-side analysts forecast that Brunswick Co. will post 4.19 EPS for the current fiscal year.

Brunswick Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 24th were issued a dividend of $0.43 per share. This is a positive change from Brunswick’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, February 24th. This represents a $1.72 annualized dividend and a dividend yield of 3.07%. Brunswick’s payout ratio is presently 90.53%.

About Brunswick

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.