Radnor Capital Management LLC Decreases Position in Brookfield Co. (NYSE:BN)

Radnor Capital Management LLC cut its stake in shares of Brookfield Co. (NYSE:BN) by 19.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,052 shares of the company’s stock after selling 14,000 shares during the period. Brookfield accounts for about 0.8% of Radnor Capital Management LLC’s portfolio, making the stock its 26th biggest position. Radnor Capital Management LLC’s holdings in Brookfield were worth $1,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Brookfield Corp ON raised its position in Brookfield by 1.4% during the first quarter. Brookfield Corp ON now owns 133,723,524 shares of the company’s stock valued at $4,358,050,000 after purchasing an additional 1,835,778 shares during the period. Moneta Group Investment Advisors LLC bought a new position in shares of Brookfield during the fourth quarter valued at approximately $3,727,998,000. Principal Financial Group Inc. grew its stake in shares of Brookfield by 4.4% during the first quarter. Principal Financial Group Inc. now owns 53,020,933 shares of the company’s stock valued at $1,727,621,000 after buying an additional 2,246,576 shares during the last quarter. FIL Ltd grew its stake in shares of Brookfield by 21.8% during the first quarter. FIL Ltd now owns 25,474,211 shares of the company’s stock valued at $829,915,000 after buying an additional 4,567,237 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Brookfield by 4.8% during the first quarter. Mackenzie Financial Corp now owns 24,686,137 shares of the company’s stock valued at $804,184,000 after buying an additional 1,122,703 shares during the last quarter. 58.22% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BN. Credit Suisse Group cut their target price on Brookfield from $42.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, August 31st. TD Securities increased their price objective on Brookfield from $60.00 to $61.00 and gave the stock an “action list buy” rating in a research note on Monday, August 14th. Royal Bank of Canada dropped their price objective on Brookfield from $50.00 to $48.00 and set an “outperform” rating on the stock in a research note on Thursday. CSFB dropped their price objective on Brookfield from $42.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, August 31st. Finally, Canaccord Genuity Group cut Brookfield from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.60.

Brookfield Stock Down 0.3 %

Shares of BN traded down $0.10 during midday trading on Friday, hitting $36.00. 481,561 shares of the company’s stock traded hands, compared to its average volume of 2,375,839. Brookfield Co. has a 1 year low of $28.25 and a 1 year high of $48.44. The firm’s fifty day moving average is $33.95 and its 200-day moving average is $32.45. The company has a current ratio of 1.19, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36. The stock has a market capitalization of $58.97 billion, a price-to-earnings ratio of 401.16 and a beta of 1.43.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, August 10th. The company reported $0.75 EPS for the quarter. Brookfield had a return on equity of 1.80% and a net margin of 0.33%. The firm had revenue of $23.67 billion during the quarter, compared to analyst estimates of $1.10 billion.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.07 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.28 annualized dividend and a dividend yield of 0.78%. Brookfield’s dividend payout ratio is presently 311.15%.

Insider Buying and Selling

In related news, major shareholder Opps Eb Holdings Ltd. Ocm sold 3,781,561 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $58.00, for a total value of $219,330,538.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 11.00% of the stock is currently owned by company insiders.

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.