Envestnet Asset Management Inc. Purchases 29,795 Shares of Brunswick Corporation $BC

Envestnet Asset Management Inc. increased its position in Brunswick Corporation (NYSE:BC) by 14.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 237,783 shares of the company’s stock after purchasing an additional 29,795 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Brunswick were worth $13,095,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Verdence Capital Advisors LLC grew its holdings in Brunswick by 3.1% during the second quarter. Verdence Capital Advisors LLC now owns 6,524 shares of the company’s stock worth $360,000 after purchasing an additional 195 shares during the period. Blue Trust Inc. boosted its stake in shares of Brunswick by 24.7% during the 2nd quarter. Blue Trust Inc. now owns 1,041 shares of the company’s stock worth $58,000 after acquiring an additional 206 shares during the period. Voya Investment Management LLC increased its holdings in shares of Brunswick by 2.8% during the 1st quarter. Voya Investment Management LLC now owns 8,196 shares of the company’s stock worth $441,000 after acquiring an additional 221 shares during the last quarter. Belpointe Asset Management LLC increased its holdings in shares of Brunswick by 7.5% during the 2nd quarter. Belpointe Asset Management LLC now owns 4,695 shares of the company’s stock worth $259,000 after acquiring an additional 329 shares during the last quarter. Finally, Peterson Wealth Services raised its stake in Brunswick by 2.5% in the 1st quarter. Peterson Wealth Services now owns 13,599 shares of the company’s stock valued at $732,000 after acquiring an additional 331 shares during the period. 99.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on BC shares. Morgan Stanley lifted their price objective on shares of Brunswick from $51.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Monday, October 27th. Robert W. Baird lifted their target price on shares of Brunswick from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Zacks Research lowered shares of Brunswick from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 21st. Weiss Ratings restated a “hold (c-)” rating on shares of Brunswick in a research report on Wednesday, October 8th. Finally, B. Riley boosted their price objective on Brunswick from $60.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, September 8th. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.54.

Brunswick Price Performance

Shares of Brunswick stock opened at $65.72 on Friday. The company has a quick ratio of 0.73, a current ratio of 1.78 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -18.05 and a beta of 1.40. Brunswick Corporation has a twelve month low of $41.00 and a twelve month high of $87.65. The company has a 50-day simple moving average of $64.88 and a two-hundred day simple moving average of $59.11.

Brunswick (NYSE:BC) last announced its earnings results on Thursday, October 23rd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.84 by $0.13. Brunswick had a negative net margin of 4.60% and a positive return on equity of 10.55%. The company had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period last year, the firm earned $1.17 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Brunswick has set its FY 2025 guidance at 3.250-3.25 EPS. Analysts forecast that Brunswick Corporation will post 4.19 EPS for the current year.

Brunswick Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Wednesday, November 26th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $1.72 annualized dividend and a yield of 2.6%. Brunswick’s payout ratio is currently -47.25%.

Brunswick 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.