Private Management Group Inc. lowered its position in Brookfield Co. (NYSE:BN – Free Report) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 660,465 shares of the company’s stock after selling 13,076 shares during the period. Private Management Group Inc.’s holdings in Brookfield were worth $27,436,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Connectus Wealth LLC grew its holdings in Brookfield by 1,049.1% in the fourth quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock worth $25,000 after purchasing an additional 557,749 shares during the last quarter. Fortis Group Advisors LLC boosted its position in shares of Brookfield by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after purchasing an additional 337 shares in the last quarter. Blue Trust Inc. grew its stake in Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after buying an additional 272 shares during the last quarter. Kings Path Partners LLC acquired a new position in Brookfield during the 2nd quarter valued at about $31,000. Finally, Family Firm Inc. purchased a new stake in Brookfield in the second quarter valued at about $36,000. Institutional investors own 61.60% of the company’s stock.
Wall Street Analyst Weigh In
BN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. TD Securities boosted their target price on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada cut their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Scotiabank boosted their price objective on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods raised their target price on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.84.
Brookfield Price Performance
NYSE:BN opened at $46.13 on Monday. The firm’s fifty day moving average is $46.19 and its two-hundred day moving average is $43.30. The firm has a market cap of $75.85 billion, a price-to-earnings ratio of 75.62 and a beta of 1.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. Brookfield Co. has a one year low of $28.84 and a one year high of $50.46.
Brookfield (NYSE:BN – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The business had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the business posted $0.75 EPS. The company’s revenue was down 2.6% on a year-over-year basis. Research analysts expect that Brookfield Co. will post 3.84 EPS for the current year.
Brookfield Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, September 12th. Brookfield’s payout ratio is presently 52.46%.
Brookfield Profile
Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.
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