Brookfield Co. (NYSE:BN) Shares Sold by Novo Holdings A S

Novo Holdings A S trimmed its stake in shares of Brookfield Co. (NYSE:BN) by 10.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,491,230 shares of the company’s stock after selling 389,000 shares during the quarter. Brookfield accounts for 9.2% of Novo Holdings A S’s holdings, making the stock its 3rd largest holding. Novo Holdings A S owned about 0.21% of Brookfield worth $185,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of BN. Diversified Trust Co purchased a new stake in Brookfield during the 1st quarter worth about $222,000. Dixon Mitchell Investment Counsel Inc. lifted its holdings in shares of Brookfield by 1.1% in the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,732,196 shares of the company’s stock valued at $72,552,000 after purchasing an additional 19,434 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Brookfield in the 1st quarter valued at about $208,000. Trust Co. of Oklahoma lifted its holdings in shares of Brookfield by 20.8% in the 1st quarter. Trust Co. of Oklahoma now owns 6,100 shares of the company’s stock valued at $255,000 after purchasing an additional 1,050 shares during the last quarter. Finally, Norden Group LLC lifted its holdings in shares of Brookfield by 2,342.0% in the 1st quarter. Norden Group LLC now owns 134,920 shares of the company’s stock valued at $5,649,000 after purchasing an additional 129,395 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BN has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price objective on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Royal Bank of Canada reduced their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Scotiabank upped their price objective on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets boosted their target price on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.59.

Brookfield Stock Down 1.4 %

Shares of NYSE:BN opened at $53.50 on Friday. The company has a market capitalization of $87.94 billion, a P/E ratio of 87.70 and a beta of 1.54. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The stock’s fifty day simple moving average is $51.19 and its 200-day simple moving average is $46.00. Brookfield Co. has a 52-week low of $28.84 and a 52-week high of $56.83.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The business had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the business earned $0.75 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, equities research analysts forecast that Brookfield Co. will post 3.84 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.60%. Brookfield’s dividend payout ratio (DPR) is presently 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.