DekaBank Deutsche Girozentrale Acquires 12,854 Shares of Brookfield Co. (NYSE:BN)

DekaBank Deutsche Girozentrale grew its holdings in Brookfield Co. (NYSE:BN) by 5.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 248,776 shares of the company’s stock after purchasing an additional 12,854 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Brookfield were worth $10,346,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Connectus Wealth LLC grew its position in Brookfield by 1,049.1% in the fourth quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock valued at $25,000 after acquiring an additional 557,749 shares during the last quarter. Fortis Group Advisors LLC increased its position in Brookfield by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after purchasing an additional 337 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Kings Path Partners LLC bought a new position in Brookfield in the second quarter valued at about $31,000. Finally, Family Firm Inc. bought a new position in Brookfield in the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of Brookfield stock opened at $50.41 on Tuesday. The business has a 50-day simple moving average of $46.93 and a 200 day simple moving average of $43.62. 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 current ratio of 1.20 and a quick ratio of 1.03. The firm has a market capitalization of $82.86 billion, a price-to-earnings ratio of 82.64 and a beta of 1.53.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating the consensus estimate of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s quarterly revenue was down 2.6% on a year-over-year basis. On average, research analysts anticipate that Brookfield Co. will post 3.84 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, September 12th. Brookfield’s dividend payout ratio is currently 52.46%.

Wall Street Analyst Weigh In

BN has been the topic of a number of recent analyst reports. TD Securities lifted their price objective on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. BMO Capital Markets boosted their target price on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Royal Bank of Canada cut their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Scotiabank lifted their price objective on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $51.59.

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.