DekaBank Deutsche Girozentrale Cuts Stock Holdings in Brookfield Co. (NYSE:BN)

DekaBank Deutsche Girozentrale lowered its position in shares of Brookfield Co. (NYSE:BN) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,684 shares of the company’s stock after selling 4,092 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Brookfield were worth $12,942,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nicholas Hoffman & Company LLC. grew its position in shares of Brookfield by 3.9% in the second quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock valued at $282,000 after purchasing an additional 257 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Brookfield by 62.8% during 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. Mckinley Capital Management LLC increased its position in Brookfield by 0.9% during the first quarter. Mckinley Capital Management LLC now owns 32,649 shares of the company’s stock worth $1,367,000 after purchasing an additional 283 shares during the last quarter. Rosenberg Matthew Hamilton raised its stake in Brookfield by 20.6% during the second quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock worth $71,000 after purchasing an additional 296 shares during the period. Finally, Pembroke Management LTD boosted its holdings in Brookfield by 4.4% in the 1st quarter. Pembroke Management LTD now owns 7,339 shares of the company’s stock valued at $307,000 after purchasing an additional 310 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Trading Down 1.8 %

NYSE BN opened at $53.67 on Wednesday. Brookfield Co. has a one year low of $28.84 and a one year high of $56.83. The firm has a 50 day simple moving average of $51.48 and a 200-day simple moving average of $46.26. The firm has a market cap of $88.21 billion, a price-to-earnings ratio of 87.98 and a beta of 1.54. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20.

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

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Thursday, September 12th. Brookfield’s dividend payout ratio is currently 52.46%.

Analysts Set New Price Targets

Several research firms have recently commented on BN. TD Securities lifted their price target on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada decreased 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 raised their price objective on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Scotiabank upped their target price on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.59.

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.