Maryland State Retirement & Pension System Increases Holdings in Brookfield Co. (NYSE:BN)

Maryland State Retirement & Pension System lifted its position in shares of Brookfield Co. (NYSE:BN) by 0.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,974 shares of the company’s stock after buying an additional 467 shares during the period. Maryland State Retirement & Pension System’s holdings in Brookfield were worth $2,046,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Eldred Rock Partners LLC bought a new position in Brookfield during the 4th quarter worth approximately $9,868,000. Choreo LLC purchased a new position in shares of Brookfield during the fourth quarter valued at approximately $754,000. JPMorgan Chase & Co. increased its stake in shares of Brookfield by 4.9% during the third quarter. JPMorgan Chase & Co. now owns 5,841,070 shares of the company’s stock valued at $182,650,000 after buying an additional 273,474 shares during the period. Northside Capital Management LLC purchased a new position in shares of Brookfield during the fourth quarter valued at approximately $229,000. Finally, Lazard Asset Management LLC purchased a new position in shares of Brookfield during the third quarter valued at approximately $23,667,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 currently owned by company insiders.

Brookfield Stock Performance

BN stock traded down $0.31 during trading on Wednesday, reaching $43.42. The stock had a trading volume of 681,226 shares, compared to its average volume of 2,782,156. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. The stock’s 50 day moving average is $40.97 and its two-hundred day moving average is $38.52. The firm has a market cap of $71.30 billion, a PE ratio of 69.42 and a beta of 1.48. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $43.99.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.14. The business had revenue of $24.52 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.12 earnings per share. As a group, equities analysts anticipate that Brookfield Co. will post 3.35 earnings per share for the current year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.74%. This is a boost from Brookfield’s previous quarterly dividend of $0.07. Brookfield’s dividend payout ratio (DPR) is currently 51.61%.

Analysts Set New Price Targets

BN has been the topic of several research analyst reports. Scotiabank boosted their target price on Brookfield from $49.00 to $50.00 and gave the company a “sector outperform” rating in a research note on Friday, February 9th. CIBC upped their price target on Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. JPMorgan Chase & Co. upped their price target on Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. BMO Capital Markets upped their price target on Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Finally, TheStreet raised Brookfield from a “c” rating to a “b” rating in a report on Thursday, February 8th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and a consensus target price of $47.25.

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.