M&G Plc Decreases Stake in Brookfield Co. (NYSE:BN)

M&G Plc cut its holdings in Brookfield Co. (NYSE:BN) by 35.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,620,721 shares of the company’s stock after selling 884,032 shares during the period. M&G Plc’s holdings in Brookfield were worth $85,898,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Concurrent Investment Advisors LLC purchased a new stake in shares of Brookfield in the 3rd quarter worth about $246,000. Radnor Capital Management LLC raised its stake in Brookfield by 4.3% in the 3rd quarter. Radnor Capital Management LLC now owns 36,783 shares of the company’s stock valued at $1,955,000 after purchasing an additional 1,518 shares during the last quarter. NorthRock Partners LLC acquired a new position in Brookfield in the 3rd quarter valued at about $217,000. Global Wealth Management Investment Advisory Inc. raised its stake in Brookfield by 6.7% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 14,203 shares of the company’s stock valued at $755,000 after purchasing an additional 897 shares during the last quarter. Finally, PDS Planning Inc acquired a new position in Brookfield in the 3rd quarter valued at about $276,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Stock Up 2.2 %

BN opened at $56.97 on Thursday. The firm has a 50 day moving average price of $52.03 and a 200 day moving average price of $46.79. The company has a market cap of $93.79 billion, a PE ratio of 98.23 and a beta of 1.53. Brookfield Co. has a 1 year low of $31.43 and a 1 year high of $57.42. 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 (NYSE:BN) last posted its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The firm had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company earned $0.75 EPS. The company’s revenue was down 2.6% on a year-over-year basis. Sell-side analysts expect that Brookfield Co. will post 3.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BN shares. BMO Capital Markets boosted their target price on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Scotiabank upped their price objective on shares of Brookfield from $51.25 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods upped their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Royal Bank of Canada dropped their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $53.31.

Brookfield Company 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.