Massmutual Trust Co. FSB ADV lifted its stake in shares of Brookfield Co. (NYSE:BN – Free Report) by 39.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,491 shares of the company’s stock after acquiring an additional 420 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Brookfield were worth $47,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Money Concepts Capital Corp acquired a new position in Brookfield in the 4th quarter valued at approximately $34,000. Venturi Wealth Management LLC acquired a new position in Brookfield in the 1st quarter valued at approximately $41,000. Parkside Financial Bank & Trust raised its holdings in Brookfield by 32.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,349 shares of the company’s stock valued at $45,000 after acquiring an additional 329 shares in the last quarter. Milestone Investment Advisors LLC acquired a new position in Brookfield in the 1st quarter valued at approximately $52,000. Finally, WASHINGTON TRUST Co acquired a new position in Brookfield in the 1st quarter valued at approximately $61,000. Institutional investors and hedge funds own 58.22% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on BN. Keefe, Bruyette & Woods increased their target price on Brookfield from $36.00 to $37.00 and gave the stock a “market perform” rating in a report on Friday, November 10th. Credit Suisse Group dropped their target price on Brookfield from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, August 31st. TD Securities increased their target price on Brookfield from $54.00 to $55.00 and gave the stock an “action list buy” rating in a report on Sunday, November 12th. JPMorgan Chase & Co. increased their target price on Brookfield from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. Finally, BMO Capital Markets dropped their target price on Brookfield from $45.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, November 10th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and an average price target of $43.78.
Brookfield Trading Down 0.6 %
BN traded down $0.20 during mid-day trading on Friday, reaching $33.87. The stock had a trading volume of 2,906,650 shares, compared to its average volume of 2,587,542. The stock has a market capitalization of $55.51 billion, a P/E ratio of -1,128.62 and a beta of 1.45. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.04 and a current ratio of 1.22. The firm’s fifty day simple moving average is $32.29 and its two-hundred day simple moving average is $32.60. Brookfield Co. has a 52 week low of $28.25 and a 52 week high of $47.53.
Brookfield (NYSE:BN – Get Free Report) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. The firm had revenue of $24.44 billion for the quarter, compared to analyst estimates of $1.07 billion. Brookfield had a return on equity of 2.23% and a net margin of 0.12%.
Brookfield Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be given a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $0.28 dividend on an annualized basis and a yield of 0.83%. Brookfield’s payout ratio is -933.02%.
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.
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