Fmr LLC Sells 91,856 Shares of Brookfield Co. (NYSE:BN)

Fmr LLC lowered its stake in shares of Brookfield Co. (NYSE:BN) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,070,599 shares of the company’s stock after selling 91,856 shares during the quarter. Fmr LLC’s holdings in Brookfield were worth $578,729,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Brookfield in the 4th quarter worth $973,591,000. Baillie Gifford & Co. grew its position in Brookfield by 809.5% during the fourth quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock worth $211,159,000 after buying an additional 3,271,403 shares in the last quarter. Regents of The University of California bought a new position in Brookfield during the fourth quarter valued at about $154,140,000. Geode Capital Management LLC raised its holdings in Brookfield by 32.0% in the 4th quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company’s stock valued at $460,489,000 after acquiring an additional 1,930,218 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Brookfield in the 4th quarter valued at approximately $82,795,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Down 2.8 %

Shares of NYSE:BN opened at $44.61 on Wednesday. The company’s fifty day moving average is $55.11 and its 200-day moving average is $56.15. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. Brookfield Co. has a 52 week low of $38.18 and a 52 week high of $62.78. The company has a market capitalization of $73.46 billion, a PE ratio of 148.70 and a beta of 1.60.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. Equities research analysts predict that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.09 per share. The ex-dividend date was Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.81%. Brookfield’s dividend payout ratio (DPR) is presently 120.00%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on BN shares. Scotiabank lowered their price objective on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a research report on Monday. TD Securities lifted their price target on shares of Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. CIBC increased their price objective on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley began coverage on shares of Brookfield in a report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective for the company. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and an average price target of $63.63.

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.