Brookfield Co. (NYSE:BN) Stock Position Reduced by Blair William & Co. IL

Blair William & Co. IL lessened its stake in Brookfield Co. (NYSE:BN) by 5.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 108,519 shares of the company’s stock after selling 5,756 shares during the quarter. Blair William & Co. IL’s holdings in Brookfield were worth $4,508,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Brookfield by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after acquiring an additional 1,063,110 shares in the last quarter. Capital World Investors boosted its position in Brookfield by 5.1% during the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after purchasing an additional 2,497,509 shares during the last quarter. TD Asset Management Inc grew its stake in Brookfield by 16.2% in the fourth quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock valued at $1,069,892,000 after purchasing an additional 3,702,266 shares in the last quarter. 1832 Asset Management L.P. increased its position in Brookfield by 1.3% in the 1st quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock worth $946,495,000 after purchasing an additional 299,029 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Brookfield by 7.3% during the 4th quarter. CIBC Asset Management Inc now owns 16,187,795 shares of the company’s stock worth $651,399,000 after purchasing an additional 1,098,854 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on BN. Royal Bank of Canada lowered their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. BMO Capital Markets boosted their target price on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. TD Securities raised their price target on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Scotiabank upped their price objective on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.59.

Brookfield Stock Performance

NYSE:BN opened at $52.18 on Friday. The firm has a market capitalization of $85.77 billion, a PE ratio of 85.54 and a beta of 1.53. Brookfield Co. has a 1 year low of $28.84 and a 1 year high of $52.48. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The firm’s fifty day simple moving average is $47.46 and its 200 day simple moving average is $43.86.

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

Brookfield Announces Dividend

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