Legacy Private Trust Co. Lowers Stock Holdings in Brookfield Co. (NYSE:BN)

Legacy Private Trust Co. lowered its stake in Brookfield Co. (NYSE:BN) by 12.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,400 shares of the company’s stock after selling 1,198 shares during the period. Legacy Private Trust Co.’s holdings in Brookfield were worth $446,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Fortis Group Advisors LLC increased its holdings in shares of Brookfield by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after purchasing an additional 337 shares during the period. Blue Trust Inc. increased its holdings in shares of Brookfield by 62.8% in the second 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. Kings Path Partners LLC acquired a new position in shares of Brookfield in the second quarter valued at approximately $31,000. Family Firm Inc. acquired a new position in shares of Brookfield in the second quarter valued at approximately $36,000. Finally, Salem Investment Counselors Inc. acquired a new position in shares of Brookfield in the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Down 0.3 %

BN opened at $52.40 on Wednesday. The business’s fifty day moving average is $48.92 and its two-hundred day moving average is $44.83. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The company has a market cap of $86.13 billion, a price-to-earnings ratio of 85.90 and a beta of 1.54. Brookfield Co. has a one year low of $28.84 and a one year high of $54.29.

Brookfield (NYSE:BN) last posted its 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. The company had revenue of $23.05 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.75 earnings per share. Analysts anticipate that Brookfield Co. will post 3.84 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 12th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.61%. Brookfield’s dividend payout ratio is currently 52.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BN shares. Scotiabank boosted their target price on Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a report on Friday, August 9th. TD Securities lifted 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. BMO Capital Markets lifted their price target on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Royal Bank of Canada decreased their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods lifted their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Brookfield has a consensus rating of “Moderate Buy” and a consensus price target of $51.59.

Brookfield Company 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.