MCF Advisors LLC Sells 1,650 Shares of Brookfield Co. (NYSE:BN)

MCF Advisors LLC trimmed its holdings in shares of Brookfield Co. (NYSE:BN) by 69.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 712 shares of the company’s stock after selling 1,650 shares during the quarter. MCF Advisors LLC’s holdings in Brookfield were worth $30,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Fortis Group Advisors LLC raised its position in shares of Brookfield by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after buying an additional 337 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Brookfield by 4,670.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock valued at $25,000 after buying an additional 794 shares in the last quarter. Allworth Financial LP raised its position in shares of Brookfield by 256.2% during the 4th quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after buying an additional 638 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in shares of Brookfield during the 1st quarter valued at about $42,000. Finally, GAMMA Investing LLC raised its position in Brookfield by 161.8% in the 1st quarter. GAMMA Investing LLC now owns 1,047 shares of the company’s stock worth $44,000 after purchasing an additional 647 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of recent analyst reports. Scotiabank reduced their price objective on shares of Brookfield from $50.00 to $49.50 and set a “sector outperform” rating on the stock in a research report on Friday, May 10th. Royal Bank of Canada reduced their price objective on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $46.00 target price (up from $45.00) on shares of Brookfield in a research report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $48.10.

Insider Buying and Selling at Brookfield

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 shares were 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 through the SEC website. In other Brookfield news, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the transaction, the director now owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s 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 disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.

Brookfield Stock Down 0.0 %

Shares of NYSE BN traded down $0.02 during midday trading on Friday, reaching $41.54. 1,549,328 shares of the company’s stock traded hands, compared to its average volume of 5,315,918. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 1.35. The stock’s 50 day simple moving average is $42.43 and its 200-day simple moving average is $40.96. Brookfield Co. has a one year low of $28.84 and a one year high of $45.11. The company has a market cap of $68.28 billion, a price-to-earnings ratio of 68.10 and a beta of 1.51.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. The firm had revenue of $22.91 billion for the quarter. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. During the same quarter in the prior year, the business posted $0.72 earnings per share. On average, analysts predict that Brookfield Co. will post 3.35 EPS for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 13th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.32 annualized dividend and a yield of 0.77%. Brookfield’s dividend payout ratio (DPR) is 52.46%.

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.