Clearbridge Investments LLC Sells 36,731 Shares of Brookfield Co. (NYSE:BN)

Clearbridge Investments LLC trimmed its stake in shares of Brookfield Co. (NYSE:BN) by 2.1% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 1,748,176 shares of the company’s stock after selling 36,731 shares during the quarter. Clearbridge Investments LLC’s holdings in Brookfield were worth $72,617,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Cetera Investment Advisers grew its stake in Brookfield by 16.1% during the second quarter. Cetera Investment Advisers now owns 316,644 shares of the company’s stock worth $13,168,000 after buying an additional 43,837 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Brookfield by 4.5% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 20,902 shares of the company’s stock worth $869,000 after acquiring an additional 893 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Brookfield by 4.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 164,176 shares of the company’s stock worth $6,820,000 after acquiring an additional 7,318 shares in the last quarter. Creative Planning increased its stake in Brookfield by 1.2% in the second quarter. Creative Planning now owns 326,427 shares of the company’s stock valued at $13,560,000 after acquiring an additional 3,879 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its position in Brookfield by 37.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 70,000 shares of the company’s stock valued at $2,908,000 after purchasing an additional 18,900 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BN shares. Keefe, Bruyette & Woods lifted their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. TD Securities boosted their target price on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. BMO Capital Markets raised their price target 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. Royal Bank of Canada decreased their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.59.

Brookfield Trading Down 0.2 %

Shares of NYSE BN opened at $52.95 on Thursday. The stock has a market cap of $87.03 billion, a P/E ratio of 86.80 and a beta of 1.53. The firm has a 50 day moving average price of $48.49 and a two-hundred day moving average price of $44.50. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. Brookfield Co. has a 52-week low of $28.84 and a 52-week high of $54.29.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The business had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period last year, the company earned $0.75 EPS. Brookfield’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, equities analysts forecast that Brookfield Co. will post 3.84 EPS for the current year.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 12th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Thursday, September 12th. Brookfield’s dividend payout ratio is currently 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.