Norden Group LLC Trims Stock Holdings in Brookfield Co. (NYSE:BN)

Norden Group LLC reduced its stake in shares of Brookfield Co. (NYSE:BN) by 13.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,756 shares of the company’s stock after selling 917 shares during the period. Norden Group LLC’s holdings in Brookfield were worth $239,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Blacksheep Fund Management Ltd purchased a new position in Brookfield during the fourth quarter valued at approximately $101,800,000. American National Bank & Trust Co. VA purchased a new position in shares of Brookfield during the 1st quarter valued at $5,716,000. M&G Plc bought a new position in Brookfield in the 1st quarter worth $111,222,000. Cetera Investment Advisers boosted its holdings in Brookfield by 1,022.6% in the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock worth $11,427,000 after buying an additional 248,506 shares during the period. Finally, Norges Bank purchased a new stake in Brookfield in the 4th quarter worth $614,104,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. TD Securities upped their price target on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods lifted 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. Scotiabank boosted their target price 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. Finally, Royal Bank of Canada cut 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $50.84.

Brookfield Stock Up 2.3 %

NYSE BN opened at $47.17 on Tuesday. The stock has a 50 day moving average price of $46.32 and a 200-day moving average price of $43.34. Brookfield Co. has a one year low of $28.84 and a one year high of $50.46. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The company has a market capitalization of $77.56 billion, a P/E ratio of 77.33 and a beta of 1.53.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (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 company had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Brookfield’s revenue was down 2.6% on a year-over-year basis. As a group, equities analysts predict that Brookfield Co. will post 3.84 EPS for the current fiscal 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 of this dividend is Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.68%. Brookfield’s payout ratio is currently 52.46%.

Brookfield Company 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.