Cannell & Co. Trims Stake in Brookfield Co. (NYSE:BN)

Cannell & Co. cut its stake in Brookfield Co. (NYSE:BN) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,988,248 shares of the company’s stock after selling 44,534 shares during the period. Brookfield accounts for 2.5% of Cannell & Co.’s portfolio, making the stock its 7th biggest position. Cannell & Co.’s holdings in Brookfield were worth $79,769,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC boosted its holdings in shares of Brookfield by 42.3% during the 4th quarter. Kestra Private Wealth Services LLC now owns 70,856 shares of the company’s stock worth $2,843,000 after buying an additional 21,064 shares in the last quarter. Intrust Bank NA bought a new position in shares of Brookfield during the 4th quarter worth approximately $213,000. Choreo LLC bought a new position in shares of Brookfield during the 4th quarter worth approximately $754,000. Gilbert & Cook Inc. boosted its holdings in shares of Brookfield by 5.4% during the 4th quarter. Gilbert & Cook Inc. now owns 35,468 shares of the company’s stock worth $1,423,000 after buying an additional 1,833 shares in the last quarter. Finally, Legacy Capital Wealth Partners LLC bought a new position in shares of Brookfield during the 4th quarter worth approximately $308,000. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BN. CIBC upped their target price on Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. TheStreet raised Brookfield from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Royal Bank of Canada lowered their target price on Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday. TD Securities upped their target price on Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a research report on Sunday, February 11th. Finally, Canaccord Genuity Group upped their target price on Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a research report on Friday, February 9th. Two 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.25.

Brookfield Stock Performance

Shares of Brookfield stock traded up $0.31 during trading hours on Wednesday, hitting $40.43. 1,402,694 shares of the company’s stock traded hands, compared to its average volume of 2,714,209. Brookfield Co. has a 12-month low of $28.84 and a 12-month high of $43.17. The stock has a market capitalization of $66.39 billion, a price-to-earnings ratio of 65.13 and a beta of 1.49. The company has a fifty day simple moving average of $40.81 and a 200-day simple moving average of $38.09. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.15 and a quick ratio of 0.99.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.14. The firm had revenue of $24.52 billion during the quarter, compared to analyst estimates of $1.15 billion. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The business’s revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm posted $1.12 EPS. Equities research analysts anticipate that Brookfield Co. will post 3.75 EPS for the current fiscal 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 paid a dividend of $0.08 per share. This is an increase from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.79%. Brookfield’s dividend payout ratio is presently 51.61%.

Insider Transactions at Brookfield

In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total value of $155,099.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of Brookfield stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the sale, the director now owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The disclosure for this sale can be found here. 11.00% of the stock is owned by corporate insiders.

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.