Legacy Capital Wealth Partners LLC Invests $330,000 in Brookfield Co. (NYSE:BN)

Legacy Capital Wealth Partners LLC purchased a new position in shares of Brookfield Co. (NYSE:BN) in the 2nd quarter, Holdings Channel reports. The firm purchased 7,955 shares of the company’s stock, valued at approximately $330,000.

Other institutional investors also recently modified their holdings of the company. Fortis Group Advisors LLC increased its holdings in shares of Brookfield by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after buying an additional 337 shares in the last quarter. Blue Trust Inc. increased its holdings in Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares during the period. Kings Path Partners LLC acquired a new stake in Brookfield in the second quarter valued at $31,000. Family Firm Inc. acquired a new stake in Brookfield in the second quarter valued at $36,000. Finally, Salem Investment Counselors Inc. acquired a new stake in Brookfield in the first quarter valued at $42,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Brookfield

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the transaction, the director now owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on BN shares. Royal Bank of Canada decreased their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Scotiabank increased their price objective on Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a report on Friday, August 9th. TD Securities increased their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Keefe, Bruyette & Woods increased their price target on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $50.84.

Brookfield Stock Performance

Shares of Brookfield stock opened at $47.50 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. The business has a 50-day moving average price of $45.99 and a two-hundred day moving average price of $43.19. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $50.46. The company has a market cap of $78.07 billion, a P/E ratio of 77.87 and a beta of 1.52.

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

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.67%. Brookfield’s dividend payout ratio (DPR) is presently 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.