Cambridge Investment Research Advisors Inc. raised its holdings in Brookfield Co. (NYSE:BN – Free Report) by 3.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 98,315 shares of the company’s stock after buying an additional 3,049 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Brookfield were worth $3,313,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pacer Advisors Inc. grew its position in shares of Brookfield by 6.4% in the 2nd quarter. Pacer Advisors Inc. now owns 12,004 shares of the company’s stock valued at $404,000 after acquiring an additional 726 shares during the period. Heron Bay Capital Management grew its position in shares of Brookfield by 35.2% in the 2nd quarter. Heron Bay Capital Management now owns 19,642 shares of the company’s stock valued at $661,000 after acquiring an additional 5,115 shares during the period. Maryland State Retirement & Pension System bought a new position in shares of Brookfield in the 2nd quarter valued at about $1,687,000. Cardinal Capital Management Inc. bought a new position in shares of Brookfield in the 2nd quarter valued at about $74,521,000. Finally, AE Wealth Management LLC grew its position in shares of Brookfield by 4.4% in the 2nd quarter. AE Wealth Management LLC now owns 15,988 shares of the company’s stock valued at $538,000 after acquiring an additional 675 shares during the period. 58.22% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
BN has been the subject of several research analyst reports. Royal Bank of Canada reduced their target price on shares of Brookfield from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday, September 14th. Canaccord Genuity Group downgraded shares of Brookfield from a “buy” rating to a “hold” rating in a report on Friday, August 11th. TD Securities lifted their target price on shares of Brookfield from $60.00 to $61.00 and gave the stock an “action list buy” rating in a report on Monday, August 14th. CSFB cut their price objective on shares of Brookfield from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, August 31st. Finally, Credit Suisse Group cut their price objective on shares of Brookfield from $42.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, August 31st. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.60.
Brookfield Price Performance
Shares of NYSE:BN opened at $31.45 on Thursday. The firm has a 50 day moving average of $33.94 and a 200-day moving average of $32.51. The stock has a market capitalization of $51.52 billion, a PE ratio of 349.48 and a beta of 1.43. The company has a current ratio of 1.19, a quick ratio of 1.01 and a debt-to-equity ratio of 1.36. Brookfield Co. has a 12 month low of $28.25 and a 12 month high of $47.53.
Brookfield (NYSE:BN – Get Free Report) last issued its earnings results on Thursday, August 10th. The company reported $0.75 EPS for the quarter. The company had revenue of $23.67 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Brookfield had a net margin of 0.33% and a return on equity of 1.80%.
Brookfield Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, August 30th. Brookfield’s payout ratio is presently 311.15%.
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.
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