Norden Group LLC Raises Stock Position in Brookfield Co. (NYSE:BN)

Norden Group LLC increased its holdings in shares of Brookfield Co. (NYSE:BN) by 2,342.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 134,920 shares of the company’s stock after purchasing an additional 129,395 shares during the period. Norden Group LLC’s holdings in Brookfield were worth $5,649,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Blacksheep Fund Management Ltd purchased a new position in shares of Brookfield during the fourth quarter worth $101,800,000. Eldred Rock Partners LLC purchased a new position in Brookfield in the fourth quarter valued at $9,868,000. Choreo LLC purchased a new position in Brookfield in the fourth quarter valued at $754,000. Norges Bank purchased a new position in Brookfield in the fourth quarter valued at $614,104,000. Finally, Gold Investment Management Ltd. purchased a new position in Brookfield in the fourth quarter valued at $4,473,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

BN has been the subject of a number of recent analyst reports. Royal Bank of Canada cut their price objective on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $46.00 target price (up previously from $45.00) on shares of Brookfield in a research report on Friday, May 10th. Finally, Scotiabank dropped their target price on shares of Brookfield from $50.00 to $49.50 and set a “sector outperform” rating on the stock in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.10.

Insider Buying and Selling at Brookfield

In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total value of $155,099.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the sale, the director now directly owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by company insiders.

Brookfield Stock Performance

BN opened at $43.05 on Friday. The firm has a market capitalization of $70.76 billion, a PE ratio of 70.57 and a beta of 1.52. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $45.11. The firm’s 50-day moving average price is $42.60 and its 200 day moving average price is $41.08. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, May 9th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.13. The company had revenue of $22.91 billion for the quarter. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, sell-side analysts expect that Brookfield Co. will post 3.35 EPS for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.32 annualized dividend and a yield of 0.74%. Brookfield’s payout ratio is 52.46%.

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.