Public Sector Pension Investment Board Cuts Stock Holdings in Brookfield Co. (NYSE:BN)

Public Sector Pension Investment Board lowered its holdings in Brookfield Co. (NYSE:BN) by 5.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 177,928 shares of the company’s stock after selling 9,819 shares during the quarter. Public Sector Pension Investment Board’s holdings in Brookfield were worth $7,399,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Fortis Group Advisors LLC boosted its position in Brookfield by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after purchasing an additional 337 shares in the last quarter. Blue Trust Inc. increased its position in shares of 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 in the last quarter. Kings Path Partners LLC acquired a new position in Brookfield during the 2nd quarter valued at about $31,000. Family Firm Inc. purchased a new position in shares of Brookfield in the 2nd quarter valued at approximately $36,000. Finally, Salem Investment Counselors Inc. purchased a new stake in Brookfield during the 1st quarter worth approximately $42,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of BN stock opened at $52.80 on Wednesday. Brookfield Co. has a 52-week low of $28.84 and a 52-week high of $53.20. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The stock has a market cap of $86.78 billion, a PE ratio of 86.56 and a beta of 1.53. The business has a 50-day simple moving average of $47.70 and a 200-day simple moving average of $44.04.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. The company had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. Brookfield’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. On average, equities analysts expect that Brookfield Co. will post 3.84 EPS for the current year.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 12th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is presently 52.46%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Scotiabank raised their price target on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. raised their target price on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada lowered their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Keefe, Bruyette & Woods increased their price objective on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Finally, TD Securities lifted their target price on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. 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 presently has an average rating of “Moderate Buy” and an average price target of $51.59.

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.