GenTrust LLC Acquires New Stake in Brookfield Co. (NYSE:BN)

GenTrust LLC acquired a new stake in shares of Brookfield Co. (NYSE:BN) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,190 shares of the company’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its holdings in shares of Brookfield by 30.5% in the 3rd quarter. Private Trust Co. NA now owns 2,055 shares of the company’s stock worth $64,000 after purchasing an additional 480 shares in the last quarter. Salvus Wealth Management LLC grew its holdings in shares of Brookfield by 12.2% in the third quarter. Salvus Wealth Management LLC now owns 110,110 shares of the company’s stock worth $3,443,000 after acquiring an additional 12,007 shares during the period. Eldred Rock Partners LLC bought a new stake in shares of Brookfield in the fourth quarter worth $9,868,000. JPMorgan Chase & Co. grew its holdings in shares of Brookfield by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 5,841,070 shares of the company’s stock worth $182,650,000 after acquiring an additional 273,474 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of Brookfield in the third quarter worth $23,667,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of BN opened at $41.87 on Friday. The business’s 50-day moving average is $40.83 and its two-hundred day moving average is $36.91. The company has a market capitalization of $68.70 billion, a P/E ratio of 67.53 and a beta of 1.49. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 1.15. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $43.17.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 8th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The business had revenue of $24.52 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the firm earned $1.12 earnings per share. The business’s revenue was up 1.3% compared to the same quarter last year. Research analysts predict that Brookfield Co. will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.08 per share. This is a positive change from Brookfield’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Tuesday, March 12th. Brookfield’s dividend payout ratio (DPR) is currently 51.61%.

Insider Transactions at Brookfield

In other Brookfield news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the sale, the director now directly owns 15,492,168 shares in the company, valued at $175,526,263.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $11.33, for a total value of $11,330,000.00. Following the transaction, the director now owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Gp Ltd Bcp sold 3,922,786 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $2.20, for a total value of $8,630,129.20. Following the completion of the transaction, the insider now owns 23,352,826 shares in the company, valued at approximately $51,376,217.20. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BN. Scotiabank lifted their target price on Brookfield from $49.00 to $50.00 and gave the company a “sector outperform” rating in a research report on Friday, February 9th. BMO Capital Markets boosted their price objective on Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. TD Securities boosted their price objective on Brookfield from $61.00 to $62.00 and gave the company an “action list buy” rating in a research report on Sunday, February 11th. Royal Bank of Canada lifted their target price on Brookfield from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Finally, CIBC lifted their target price on Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and a consensus price target of $47.45.

About Brookfield

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.