Dorsey & Whitney Trust CO LLC Sells 665 Shares of Brookfield Co. (NYSE:BN)

Dorsey & Whitney Trust CO LLC cut its position in shares of Brookfield Co. (NYSE:BN) by 9.1% during the second quarter, Holdings Channel reports. The institutional investor owned 6,669 shares of the company’s stock after selling 665 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Brookfield were worth $277,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fortis Group Advisors LLC lifted its holdings in shares of 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 acquiring an additional 337 shares during the period. Blue Trust Inc. lifted its stake in Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares during the period. Kings Path Partners LLC acquired a new stake in Brookfield during the second quarter valued at approximately $31,000. Family Firm Inc. bought a new stake in shares of Brookfield in the 2nd quarter valued at approximately $36,000. Finally, Salem Investment Counselors Inc. acquired a new position in shares of Brookfield in the 1st quarter worth approximately $42,000. 61.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods upped their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. TD Securities increased their target price on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada cut their price target 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. 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 note on Wednesday, July 31st. Finally, BMO Capital Markets lifted their target price on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and an average price target of $51.59.

Brookfield Stock Performance

BN stock opened at $48.95 on Friday. The stock has a market capitalization of $80.46 billion, a PE ratio of 80.25 and a beta of 1.53. 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 $46.64 and a 200 day moving average price of $43.46. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $50.46.

Brookfield (NYSE:BN) last issued 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 analyst estimates of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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 disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 12th will be issued a $0.08 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.65%. Brookfield’s dividend payout ratio is currently 52.46%.

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.