Bristol Gate Capital Partners Inc. Acquires 2,958 Shares of Brookfield Co. (NYSE:BN)

Bristol Gate Capital Partners Inc. lifted its holdings in shares of Brookfield Co. (NYSE:BN) by 12.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,343 shares of the company’s stock after purchasing an additional 2,958 shares during the quarter. Brookfield accounts for approximately 0.1% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 23rd largest position. Bristol Gate Capital Partners Inc.’s holdings in Brookfield were worth $1,095,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Gilbert & Cook Inc. grew its stake in Brookfield by 5.4% in the 4th quarter. Gilbert & Cook Inc. now owns 35,468 shares of the company’s stock worth $1,423,000 after buying an additional 1,833 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Brookfield by 0.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 194,907 shares of the company’s stock worth $7,820,000 after acquiring an additional 839 shares in the last quarter. Wells Fargo & Company MN grew its position in Brookfield by 1.1% in the fourth quarter. Wells Fargo & Company MN now owns 2,612,251 shares of the company’s stock worth $104,881,000 after acquiring an additional 27,313 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Brookfield by 5.6% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 119,076 shares of the company’s stock valued at $4,777,000 after acquiring an additional 6,280 shares during the last quarter. Finally, Commerce Bank raised its position in Brookfield by 32.3% during the fourth quarter. Commerce Bank now owns 10,480 shares of the company’s stock valued at $420,000 after purchasing an additional 2,557 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Trading Up 4.5 %

NYSE:BN opened at $52.21 on Friday. The firm has a market capitalization of $85.82 billion, a P/E ratio of 85.59 and a beta of 1.53. The company has a fifty day moving average of $47.19 and a 200 day moving average of $43.72. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $52.30.

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

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 12th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is currently 52.46%.

Analyst Ratings Changes

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