Perpetual Ltd Reduces Position in Brookfield Co. (NYSE:BN)

Perpetual Ltd cut its holdings in shares of Brookfield Co. (NYSE:BN) by 26.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,656 shares of the company’s stock after selling 8,000 shares during the quarter. Perpetual Ltd’s holdings in Brookfield were worth $1,204,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. American National Bank & Trust Co. VA purchased a new stake in Brookfield during the first quarter valued at about $5,716,000. M&G Plc purchased a new stake in Brookfield during the first quarter valued at about $111,222,000. Cetera Investment Advisers lifted its holdings in Brookfield by 1,022.6% during the first quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock valued at $11,427,000 after purchasing an additional 248,506 shares during the last quarter. Forsta AP Fonden lifted its holdings in shares of Brookfield by 12.8% in the first quarter. Forsta AP Fonden now owns 259,800 shares of the company’s stock worth $10,882,000 after buying an additional 29,500 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Brookfield by 324.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock worth $4,390,000 after buying an additional 80,762 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Up 1.0 %

BN stock opened at $53.57 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The company’s 50 day moving average is $49.28 and its 200 day moving average is $45.03. The stock has a market cap of $88.12 billion, a price-to-earnings ratio of 92.36 and a beta of 1.54. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $54.43.

Brookfield (NYSE:BN) last issued its quarterly 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 for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period last year, the business earned $0.75 earnings per share. The business’s quarterly revenue was down 2.6% on a year-over-year basis. Sell-side analysts predict that Brookfield Co. will post 3.84 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Thursday, September 12th. Brookfield’s payout ratio is currently 55.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BN shares. Scotiabank increased their price target on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. TD Securities increased their price target on shares of 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 shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Finally, BMO Capital Markets increased their price target on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.59.

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.