Public Sector Pension Investment Board Decreases Stake in Brookfield Co. (NYSE:BN)

Public Sector Pension Investment Board lessened its position in shares of Brookfield Co. (NYSE:BN) by 5.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,928 shares of the company’s stock after selling 9,819 shares during the quarter. Public Sector Pension Investment Board’s holdings in Brookfield were worth $7,399,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Connectus Wealth LLC grew its holdings in shares of Brookfield by 1,049.1% in the fourth quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock valued at $25,000 after purchasing an additional 557,749 shares in the last quarter. Fortis Group Advisors LLC grew its stake in shares of Brookfield by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after buying an additional 337 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after buying an additional 272 shares during the last quarter. Kings Path Partners LLC purchased a new stake in shares of Brookfield during the 2nd quarter valued at about $31,000. Finally, Family Firm Inc. bought a new position in shares of Brookfield in the 2nd quarter valued at about $36,000. Institutional investors own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

BN has been the topic of several analyst reports. Scotiabank boosted their price objective on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. TD Securities boosted their target price 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 raised their price target on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective 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, Royal Bank of Canada lowered their target price 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. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.59.

Brookfield Stock Up 0.5 %

Shares of BN opened at $52.80 on Wednesday. The firm has a market capitalization of $86.78 billion, a P/E ratio of 86.56 and a beta of 1.53. Brookfield Co. has a 12-month low of $28.84 and a 12-month high of $53.20. The firm has a fifty day moving average price of $47.70 and a 200-day moving average price of $44.04. 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 quarterly earnings data 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. The company had revenue of $23.05 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. Equities research analysts expect that Brookfield Co. will post 3.84 earnings per share for the current year.

Brookfield Dividend Announcement

The company 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. The ex-dividend date is Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.61%. Brookfield’s payout ratio is currently 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.