King Luther Capital Management Corp Sells 3,962 Shares of Brookfield Co. (NYSE:BN)

King Luther Capital Management Corp reduced its holdings in shares of Brookfield Co. (NYSE:BN) by 3.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 100,908 shares of the company’s stock after selling 3,962 shares during the quarter. King Luther Capital Management Corp’s holdings in Brookfield were worth $4,192,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Nicholas Hoffman & Company LLC. boosted its stake in shares of Brookfield by 3.9% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock worth $282,000 after acquiring an additional 257 shares during the period. Blue Trust Inc. boosted its stake in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares during the period. Mckinley Capital Management LLC boosted its stake in Brookfield by 0.9% in the 1st quarter. Mckinley Capital Management LLC now owns 32,649 shares of the company’s stock valued at $1,367,000 after purchasing an additional 283 shares during the period. Checchi Capital Advisers LLC boosted its stake in Brookfield by 4.5% in the 1st quarter. Checchi Capital Advisers LLC now owns 6,622 shares of the company’s stock valued at $277,000 after purchasing an additional 288 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its stake in Brookfield by 20.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock valued at $71,000 after purchasing an additional 296 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

Brookfield stock opened at $52.18 on Friday. 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 Co. has a 52 week low of $28.84 and a 52 week high of $52.48. The stock has a market capitalization of $85.77 billion, a P/E ratio of 85.54 and a beta of 1.53. The stock has a fifty day moving average of $47.46 and a 200-day moving average of $43.86.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the firm earned $0.75 EPS. Brookfield’s revenue was down 2.6% on a year-over-year basis. On average, sell-side analysts expect that Brookfield Co. will post 3.84 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

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 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 currently 52.46%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BN shares. TD Securities boosted their price target on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada reduced 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 upped their target price on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Finally, Keefe, Bruyette & Woods upped their target price on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. 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 company currently has a consensus rating of “Moderate Buy” and a consensus 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.