EdgePoint Investment Group Inc. Sells 59,753 Shares of Brookfield Co. (NYSE:BN)

EdgePoint Investment Group Inc. reduced its stake in shares of Brookfield Co. (NYSE:BN) by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,316,027 shares of the company’s stock after selling 59,753 shares during the quarter. Brookfield accounts for approximately 4.0% of EdgePoint Investment Group Inc.’s portfolio, making the stock its 10th largest holding. EdgePoint Investment Group Inc.’s holdings in Brookfield were worth $470,716,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of BN. Connectus Wealth LLC lifted its holdings in shares of Brookfield by 1,049.1% in the fourth quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock valued at $25,000 after purchasing an additional 557,749 shares in the last quarter. Fortis Group Advisors LLC lifted its holdings in shares of Brookfield by 100.0% in 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. lifted its holdings in shares of 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 in the last quarter. Kings Path Partners LLC purchased a new stake in shares of Brookfield in the second quarter valued at about $31,000. Finally, Family Firm Inc. purchased a new position in shares of Brookfield during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BN shares. BMO Capital Markets upped their price objective on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. upped their price target 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. Royal Bank of Canada dropped their price objective on shares of 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 shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Finally, TD Securities raised their price target on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Brookfield has a consensus rating of “Moderate Buy” and a consensus price target of $51.59.

Brookfield Stock Performance

BN stock opened at $52.25 on Thursday. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $53.20. The stock has a market cap of $85.96 billion, a P/E ratio of 85.66 and a beta of 1.53. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The firm has a 50 day simple moving average of $47.81 and a 200 day simple moving average of $44.10.

Brookfield (NYSE:BN) last announced its quarterly earnings data 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. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The company had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the company posted $0.75 EPS. The business’s revenue was down 2.6% on a year-over-year basis. Research analysts anticipate that Brookfield Co. will post 3.84 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 is Thursday, September 12th. Brookfield’s dividend payout ratio is currently 52.46%.

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.