Brunswick Co. (NYSE:BC) Shares Sold by Truist Financial Corp

Truist Financial Corp trimmed its holdings in shares of Brunswick Co. (NYSE:BC) by 24.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,982 shares of the company’s stock after selling 2,317 shares during the period. Truist Financial Corp’s holdings in Brunswick were worth $452,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BC. Armstrong Advisory Group Inc. acquired a new position in Brunswick during the fourth quarter worth about $39,000. Avior Wealth Management LLC grew its holdings in Brunswick by 1,073.7% during the third quarter. Avior Wealth Management LLC now owns 669 shares of the company’s stock worth $56,000 after acquiring an additional 612 shares during the period. Covestor Ltd grew its holdings in Brunswick by 669.0% during the third quarter. Covestor Ltd now owns 969 shares of the company’s stock worth $81,000 after acquiring an additional 843 shares during the period. KBC Group NV grew its holdings in Brunswick by 21.7% during the third quarter. KBC Group NV now owns 2,025 shares of the company’s stock worth $170,000 after acquiring an additional 361 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new position in Brunswick during the third quarter worth about $219,000. 99.34% of the stock is owned by institutional investors and hedge funds.

Brunswick Stock Down 3.1 %

BC opened at $58.96 on Tuesday. The business has a 50 day moving average price of $65.53 and a 200 day moving average price of $74.57. Brunswick Co. has a twelve month low of $58.61 and a twelve month high of $96.65. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.63 and a current ratio of 1.65. The firm has a market cap of $3.88 billion, a P/E ratio of 31.03 and a beta of 1.54.

Brunswick (NYSE:BC) last posted its 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 return on equity of 15.41% and a net margin of 2.48%. During the same period last year, the company posted $1.45 earnings per share. Research analysts forecast that Brunswick Co. will post 4.19 EPS for the current year.

Brunswick Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 24th will be given a $0.43 dividend. This is an increase from Brunswick’s previous quarterly dividend of $0.42. This represents a $1.72 annualized dividend and a yield of 2.92%. The ex-dividend date is Monday, February 24th. Brunswick’s payout ratio is currently 90.53%.

Analyst Ratings Changes

A number of research firms recently issued reports on BC. Truist Financial lowered their target price on Brunswick from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. B. Riley raised Brunswick to a “hold” rating in a research note on Wednesday, February 12th. Roth Mkm dropped their price target on Brunswick from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, January 24th. Citigroup dropped their price target on Brunswick from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Finally, Benchmark dropped their price target on Brunswick from $100.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.62.

Insiders Place Their Bets

In related news, SVP Randall S. Altman sold 3,417 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $63.21, for a total value of $215,988.57. Following the sale, the senior vice president now owns 26,683 shares of the company’s stock, valued at $1,686,632.43. The trade was a 11.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nancy E. Cooper sold 433 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were 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 directly owns 25,361 shares in the company, valued at approximately $1,664,949.65. This represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.81% of the company’s stock.

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.