16,274 Shares in Brookfield Co. (NYSE:BN) Bought by Schubert & Co

Schubert & Co bought a new stake in shares of Brookfield Co. (NYSE:BN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,274 shares of the company’s stock, valued at approximately $865,000. Brookfield makes up 0.6% of Schubert & Co’s holdings, making the stock its 17th largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. American National Bank & Trust Co. VA bought a new position in Brookfield during the 1st quarter valued at approximately $5,716,000. M&G Plc purchased a new position in shares of Brookfield in the 1st quarter worth about $111,222,000. Cetera Investment Advisers boosted its stake in Brookfield by 1,022.6% in the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock worth $11,427,000 after purchasing an additional 248,506 shares in the last quarter. Forsta AP Fonden grew its position in Brookfield by 12.8% during the 1st quarter. Forsta AP Fonden now owns 259,800 shares of the company’s stock valued at $10,882,000 after purchasing an additional 29,500 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Brookfield by 324.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock valued at $4,390,000 after purchasing an additional 80,762 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

BN has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. BMO Capital Markets increased their target price on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. TD Securities lifted their target price on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada lowered their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Scotiabank lifted 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $51.59.

Brookfield Stock Performance

Shares of NYSE BN traded up $1.06 during midday trading on Friday, hitting $56.39. 1,767,375 shares of the company’s stock traded hands, compared to its average volume of 2,904,365. The firm has a fifty day moving average of $50.34 and a 200 day moving average of $45.49. Brookfield Co. has a 1 year low of $28.84 and a 1 year high of $56.68. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The stock has a market capitalization of $92.69 billion, a price-to-earnings ratio of 92.46 and a beta of 1.54.

Brookfield (NYSE:BN) last announced its earnings results 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 net margin of 1.13% and a return on equity of 3.67%. The business had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period in the prior year, the company earned $0.75 earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. On average, analysts forecast that Brookfield Co. will post 3.84 earnings per share for the current year.

Brookfield Dividend Announcement

The business 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 0.57%. Brookfield’s dividend payout ratio (DPR) is presently 52.46%.

About Brookfield

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.