Asset Dedication LLC Makes New Investment in Brookfield Co. (NYSE:BN)

Asset Dedication LLC purchased a new position in Brookfield Co. (NYSE:BN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,350 shares of the company’s stock, valued at approximately $56,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BN. Capital World Investors grew its stake in Brookfield by 102.2% in the fourth quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock valued at $1,982,903,000 after purchasing an additional 24,975,364 shares during the last quarter. Norges Bank purchased a new position in shares of Brookfield in the 4th quarter worth approximately $614,104,000. TD Asset Management Inc grew its position in shares of Brookfield by 16.2% in the 4th quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock worth $1,069,892,000 after buying an additional 3,702,266 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Brookfield during the 2nd quarter worth approximately $128,321,000. Finally, M&G Plc acquired a new stake in Brookfield in the first quarter valued at approximately $111,222,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

Shares of NYSE:BN opened at $47.17 on Tuesday. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $50.46. 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 has a market cap of $77.56 billion, a PE ratio of 77.33 and a beta of 1.53. The company’s 50 day moving average is $46.32 and its 200 day moving average is $43.34.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. The firm had revenue of $23.05 billion for the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 earnings per share. On average, sell-side analysts forecast that Brookfield Co. will post 3.84 EPS for the current year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.68%. Brookfield’s payout ratio is currently 52.46%.

Analyst Upgrades and Downgrades

BN has been the topic of a number of recent analyst reports. Scotiabank upped their price target on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. TD Securities increased their price target on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada dropped their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Keefe, Bruyette & Woods increased their price objective 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, JPMorgan Chase & Co. lifted their target price on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and an average target price of $50.84.

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.