Lindbrook Capital LLC Cuts Stock Position in Brookfield Co. (NYSE:BN)

Lindbrook Capital LLC lessened its holdings in Brookfield Co. (NYSE:BN) by 6.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,333 shares of the company’s stock after selling 508 shares during the period. Lindbrook Capital LLC’s holdings in Brookfield were worth $294,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Brookfield by 8.9% during the 3rd quarter. Principal Financial Group Inc. now owns 63,734,864 shares of the company’s stock valued at $1,993,867,000 after purchasing an additional 5,192,256 shares in the last quarter. Vanguard Group Inc. grew its holdings in Brookfield by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 55,429,678 shares of the company’s stock worth $1,733,286,000 after acquiring an additional 1,016,222 shares in the last quarter. Bank of Nova Scotia grew its holdings in Brookfield by 1.2% during the 3rd quarter. Bank of Nova Scotia now owns 20,312,486 shares of the company’s stock worth $635,326,000 after acquiring an additional 242,567 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Brookfield by 21.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,233,299 shares of the company’s stock worth $602,966,000 after acquiring an additional 3,331,522 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its holdings in Brookfield by 8.3% during the 4th quarter. DAVENPORT & Co LLC now owns 10,335,443 shares of the company’s stock worth $416,260,000 after acquiring an additional 795,309 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $53.00 price objective on shares of Brookfield in a report on Friday, April 12th. JPMorgan Chase & Co. raised their price objective on shares of Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. TD Securities raised their price target on shares of Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a research report on Sunday, February 11th. BMO Capital Markets raised their price target on shares of Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Finally, TheStreet upgraded shares of Brookfield from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.45.

Brookfield Trading Up 1.6 %

Shares of NYSE:BN opened at $39.61 on Tuesday. The company has a market cap of $65.03 billion, a PE ratio of 63.88 and a beta of 1.49. The company’s 50-day moving average price is $40.75 and its 200 day moving average price is $37.78. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $43.17. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 1.35.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.14. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The firm had revenue of $24.52 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm posted $1.12 EPS. Brookfield’s quarterly revenue was up 1.3% compared to the same quarter last year. Sell-side analysts anticipate that Brookfield Co. will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.81%. This is an increase from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, March 12th. Brookfield’s payout ratio is 51.61%.

Insider Transactions at Brookfield

In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of Brookfield 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.00% of the company’s stock.

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.