Zurcher Kantonalbank Zurich Cantonalbank Grows Stake in Brookfield Co. (NYSE:BN)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Brookfield Co. (NYSE:BN) by 4.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 436,205 shares of the company’s stock after buying an additional 17,153 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brookfield were worth $17,582,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BN. TIAA FSB purchased a new position in Brookfield during the 4th quarter worth approximately $799,000. Triasima Portfolio Management inc. purchased a new position in Brookfield during the 4th quarter worth approximately $37,672,000. Victory Capital Management Inc. purchased a new position in Brookfield during the 4th quarter worth approximately $1,548,000. American Century Companies Inc. purchased a new position in Brookfield during the 4th quarter worth approximately $1,483,000. Finally, Barclays PLC purchased a new position in Brookfield during the 4th quarter worth approximately $748,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of research reports. TD Securities raised their price target on Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a research note on Sunday, February 11th. JPMorgan Chase & Co. increased their price objective on Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Scotiabank increased their price objective on Brookfield from $49.00 to $50.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $53.00 price objective on shares of Brookfield in a research report on Friday, April 12th. Finally, BMO Capital Markets increased their price objective on Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a research 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and an average price target of $47.45.

Insider Activity

In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of Brookfield stock in a transaction on Monday, March 18th. The stock was sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the completion of the transaction, the director now directly owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 11.00% of the company’s stock.

Brookfield Stock Down 1.1 %

BN opened at $38.57 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.15 and a quick ratio of 0.99. The business has a 50 day simple moving average of $40.81 and a 200-day simple moving average of $37.55. The stock has a market capitalization of $63.33 billion, a P/E ratio of 62.21 and a beta of 1.49. Brookfield Co. has a 12 month low of $28.84 and a 12 month high of $43.17.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.83 EPS for the quarter, beating the consensus estimate 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 company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $1.12 EPS. On average, equities analysts anticipate that Brookfield Co. will post 3.75 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were issued a $0.08 dividend. This is a boost from Brookfield’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Tuesday, March 12th. Brookfield’s dividend payout ratio (DPR) is currently 51.61%.

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.