Whittier Trust Co. of Nevada Inc. Sells 7,200 Shares of Brookfield Co. (NYSE:BN)

Whittier Trust Co. of Nevada Inc. reduced its holdings in Brookfield Co. (NYSE:BN) by 68.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,293 shares of the company’s stock after selling 7,200 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Brookfield were worth $175,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. American National Bank & Trust Co. VA acquired a new position in Brookfield during the 1st quarter valued at $5,716,000. M&G Plc acquired a new stake in shares of Brookfield during the 1st quarter valued at about $111,222,000. Cetera Investment Advisers increased its stake in Brookfield by 1,022.6% in the first quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock valued at $11,427,000 after acquiring an additional 248,506 shares during the period. Forsta AP Fonden raised its position in 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 purchasing an additional 29,500 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Brookfield by 324.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock worth $4,390,000 after purchasing an additional 80,762 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank boosted their target price on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research note on Friday, August 9th. BMO Capital Markets increased their target price on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada reduced 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. Two equities research 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, the stock has an average rating of “Moderate Buy” and an average target price of $51.59.

Brookfield Stock Performance

BN stock opened at $54.04 on Thursday. The stock has a market capitalization of $88.82 billion, a PE ratio of 88.59 and a beta of 1.54. 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 company has a 50 day moving average price of $50.74 and a 200 day moving average price of $45.76. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $56.83.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.57. The business had revenue of $23.05 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 earnings per share. Analysts forecast that Brookfield Co. will post 3.84 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 12th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Thursday, September 12th. Brookfield’s dividend payout ratio is 52.46%.

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.