JARISLOWSKY FRASER Ltd Reduces Stock Position in Brookfield Co. (NYSE:BN)

JARISLOWSKY FRASER Ltd decreased its position in Brookfield Co. (NYSE:BN) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,144,135 shares of the company’s stock after selling 522,986 shares during the period. Brookfield makes up approximately 5.3% of JARISLOWSKY FRASER Ltd’s holdings, making the stock its 2nd biggest position. JARISLOWSKY FRASER Ltd owned 1.29% of Brookfield worth $879,234,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BN. Blacksheep Fund Management Ltd bought a new position in Brookfield during the 4th quarter valued at about $101,800,000. American National Bank & Trust Co. VA bought a new position in Brookfield during the 1st quarter valued at about $5,716,000. M&G Plc bought a new position in Brookfield during the 1st quarter valued at about $111,222,000. Cetera Investment Advisers lifted its stake in Brookfield by 1,022.6% during the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock valued at $11,427,000 after acquiring an additional 248,506 shares during the period. Finally, Gold Investment Management Ltd. bought a new position in Brookfield during the 4th quarter valued at about $4,473,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Trading Down 0.7 %

Brookfield stock opened at $49.95 on Thursday. The firm has a 50 day moving average of $47.08 and a 200 day moving average of $43.68. The firm has a market capitalization of $82.10 billion, a price-to-earnings ratio of 81.89 and a beta of 1.53. Brookfield Co. has a 12-month low of $28.84 and a 12-month high of $51.03. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

Brookfield (NYSE:BN) last released its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.57. The company had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 EPS. As a group, research analysts predict that Brookfield Co. will post 3.84 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is currently 52.46%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BN. BMO Capital Markets upped their price target on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Royal Bank of Canada reduced their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Keefe, Bruyette & Woods upped their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, TD Securities upped their price target on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $51.59.

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.