Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Brookfield Co. (NYSE:BN)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Brookfield Co. (NYSE:BN) by 5.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 487,176 shares of the company’s stock after buying an additional 23,888 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brookfield were worth $20,258,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BN. International Assets Investment Management LLC acquired a new position in shares of Brookfield during the fourth quarter worth $14,210,000. Legacy Capital Wealth Partners LLC acquired a new position in shares of Brookfield during the fourth quarter worth $308,000. Gilbert & Cook Inc. increased its position in shares of Brookfield by 5.4% during the fourth quarter. Gilbert & Cook Inc. now owns 35,468 shares of the company’s stock worth $1,423,000 after purchasing an additional 1,833 shares in the last quarter. Choreo LLC acquired a new position in shares of Brookfield during the fourth quarter worth $754,000. Finally, Intrust Bank NA acquired a new position in shares of Brookfield during the fourth quarter worth $213,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the completion of the transaction, the director now owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 11.00% of the company’s stock.

Brookfield Price Performance

Shares of BN stock traded up $0.01 during mid-day trading on Friday, hitting $49.70. 484,332 shares of the stock were exchanged, compared to its average volume of 3,084,585. The firm has a fifty day moving average of $45.35 and a 200 day moving average of $42.92. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 1.35. Brookfield Co. has a 52-week low of $28.84 and a 52-week high of $50.33. The company has a market cap of $81.69 billion, a PE ratio of 81.46 and a beta of 1.52.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.57. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The business had revenue of $23.05 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. Research analysts anticipate that Brookfield Co. will post 3.35 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 12th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.64%. Brookfield’s dividend payout ratio (DPR) is presently 52.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BN. Royal Bank of Canada reduced their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank boosted their price objective on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a report on Friday, August 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Finally, TD Securities boosted their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.88.

Brookfield 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.