Cobblestone Capital Advisors LLC NY Boosts Stake in Brookfield Co. (NYSE:BN)

Cobblestone Capital Advisors LLC NY grew its position in shares of Brookfield Co. (NYSE:BN) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 477,043 shares of the company’s stock after purchasing an additional 3,762 shares during the period. Brookfield makes up about 1.2% of Cobblestone Capital Advisors LLC NY’s holdings, making the stock its 20th largest holding. Cobblestone Capital Advisors LLC NY’s holdings in Brookfield were worth $19,816,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Brookfield by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock worth $2,406,700,000 after purchasing an additional 1,063,110 shares during the period. Capital World Investors raised its holdings in Brookfield by 5.1% in the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after acquiring an additional 2,497,509 shares in the last quarter. TD Asset Management Inc grew its holdings in Brookfield by 16.2% during the 4th quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock worth $1,069,892,000 after acquiring an additional 3,702,266 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Brookfield by 1.3% in the 1st quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock valued at $946,495,000 after purchasing an additional 299,029 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Brookfield by 7.3% in the 4th quarter. CIBC Asset Management Inc now owns 16,187,795 shares of the company’s stock valued at $651,399,000 after purchasing an additional 1,098,854 shares in the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on BN. Royal Bank of Canada lowered their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Scotiabank increased their target price on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods boosted their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Finally, TD Securities raised their price objective on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.84.

Insider Transactions at Brookfield

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 11.00% of the company’s stock.

Brookfield Stock Performance

Shares of NYSE:BN traded down $1.03 during trading on Friday, reaching $46.13. The company had a trading volume of 2,916,731 shares, compared to its average volume of 3,102,887. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $50.46. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. The stock’s fifty day moving average price is $46.19 and its 200 day moving average price is $43.26. The firm has a market capitalization of $75.82 billion, a price-to-earnings ratio of 75.61 and a beta of 1.53.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. The company had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. Brookfield’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. As a group, equities research analysts predict that Brookfield Co. will post 3.84 EPS for the current year.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, September 12th. Brookfield’s dividend payout ratio 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.