Farther Finance Advisors LLC Cuts Position in Brookfield Co. (NYSE:BN)

Farther Finance Advisors LLC decreased its stake in shares of Brookfield Co. (NYSE:BN) by 46.8% during the third quarter, Holdings Channel reports. The firm owned 3,801 shares of the company’s stock after selling 3,341 shares during the quarter. Farther Finance Advisors LLC’s holdings in Brookfield were worth $202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BN. Nicholas Hoffman & Company LLC. increased its stake 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 worth $282,000 after purchasing an additional 257 shares in the last quarter. Blue Trust Inc. grew its stake in Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Brookfield by 2.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock worth $551,000 after buying an additional 292 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Brookfield by 20.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock worth $71,000 after buying an additional 296 shares in the last quarter. Finally, Pembroke Management LTD grew its stake in shares of Brookfield by 4.4% in the 1st quarter. Pembroke Management LTD now owns 7,339 shares of the company’s stock worth $307,000 after buying an additional 310 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BN. BMO Capital Markets lifted their price objective on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. TD Securities boosted their target price on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods upped their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada dropped their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $53.31.

Brookfield Price Performance

Shares of BN opened at $57.09 on Friday. The firm has a 50-day simple moving average of $52.47 and a two-hundred day simple moving average of $47.11. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. Brookfield Co. has a 1-year low of $31.43 and a 1-year high of $57.78. The stock has a market cap of $93.99 billion, a PE ratio of 98.43 and a beta of 1.53.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share 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 revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 EPS. As a group, analysts forecast that Brookfield Co. will post 3.81 EPS for the current year.

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.