PenderFund Capital Management Ltd. Decreases Holdings in Brookfield Co. (NYSE:BN)

PenderFund Capital Management Ltd. trimmed its position in Brookfield Co. (NYSE:BN) by 41.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 23,940 shares of the company’s stock after selling 16,750 shares during the quarter. Brookfield makes up approximately 0.0% of PenderFund Capital Management Ltd.’s portfolio, making the stock its 29th biggest position. PenderFund Capital Management Ltd.’s holdings in Brookfield were worth $960,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Brookfield during the fourth quarter worth about $251,000. Connectus Wealth LLC increased its stake in Brookfield by 1,049.1% during the 4th quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock valued at $25,000 after purchasing an additional 557,749 shares in the last quarter. Quadrature Capital Ltd raised its holdings in shares of Brookfield by 61.0% in the fourth quarter. Quadrature Capital Ltd now owns 44,457 shares of the company’s stock worth $1,784,000 after buying an additional 16,851 shares during the last quarter. RE Dickinson Investment Advisors LLC lifted its stake in shares of Brookfield by 6.2% during the fourth quarter. RE Dickinson Investment Advisors LLC now owns 7,313 shares of the company’s stock worth $293,000 after buying an additional 430 shares during the period. Finally, Cetera Advisor Networks LLC grew its holdings in shares of Brookfield by 32.7% during the fourth quarter. Cetera Advisor Networks LLC now owns 233,730 shares of the company’s stock valued at $9,423,000 after buying an additional 57,607 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the completion of the sale, the director now owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the transaction, the director now directly owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total value of $155,099.25. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Brookfield Stock Down 1.2 %

Shares of BN stock opened at $41.14 on Wednesday. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $45.11. The stock has a market cap of $67.55 billion, a P/E ratio of 67.44 and a beta of 1.51. The stock has a 50 day moving average of $42.02 and a 200 day moving average of $40.52. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The business had revenue of $22.91 billion for the quarter. During the same period in the previous year, the business earned $0.72 EPS. As a group, sell-side analysts expect that Brookfield Co. will post 3.35 EPS for the current year.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.78%. Brookfield’s payout ratio is 52.46%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BN. Scotiabank reduced their target price on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating for the company in a research note on Friday, May 10th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $46.00 price objective (up from $45.00) on shares of Brookfield in a research note on Friday, May 10th. Finally, Royal Bank of Canada decreased their target price on Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $48.10.

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.