LGT Capital Partners LTD. Lowers Stock Holdings in Brookfield Co. (NYSE:BN)

LGT Capital Partners LTD. lessened its holdings in shares of Brookfield Co. (NYSE:BN) by 5.5% during the fourth quarter, HoldingsChannel reports. The firm owned 614,000 shares of the company’s stock after selling 36,000 shares during the quarter. LGT Capital Partners LTD.’s holdings in Brookfield were worth $24,752,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in BN. GenTrust LLC acquired a new stake in shares of Brookfield in the fourth quarter worth approximately $248,000. Ritholtz Wealth Management raised its position in shares of Brookfield by 6.4% in the 4th quarter. Ritholtz Wealth Management now owns 9,676 shares of the company’s stock worth $388,000 after buying an additional 581 shares during the period. Procyon Advisors LLC boosted its holdings in Brookfield by 6.5% in the fourth quarter. Procyon Advisors LLC now owns 47,694 shares of the company’s stock valued at $1,913,000 after acquiring an additional 2,922 shares during the last quarter. Laurus Investment Counsel Inc. acquired a new stake in Brookfield during the fourth quarter worth about $162,000. Finally, Heartwood Wealth Advisors LLC purchased a new position in shares of Brookfield in the 4th quarter worth about $247,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Trading Up 0.7 %

Brookfield stock opened at $41.87 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 1.15. Brookfield Co. has a 1 year low of $28.84 and a 1 year high of $43.17. The firm’s 50-day moving average is $40.83 and its 200-day moving average is $36.91. The company has a market cap of $68.70 billion, a P/E ratio of 67.53 and a beta of 1.49.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The company had revenue of $24.52 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the business posted $1.12 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts expect that Brookfield Co. will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a dividend of $0.08 per share. This is a boost from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, March 12th. This represents a $0.32 annualized dividend and a yield of 0.76%. Brookfield’s dividend payout ratio (DPR) is presently 51.61%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. TD Securities increased their target price on shares of Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a research report on Sunday, February 11th. CIBC upped their price target on shares of Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. BMO Capital Markets increased their target price on Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Scotiabank boosted their price target on Brookfield from $49.00 to $50.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada lifted their price objective on shares of Brookfield from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and an average price target of $47.45.

Insider Buying and Selling

In other news, major shareholder Gp Ltd Bcp sold 3,922,786 shares of Brookfield stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $2.20, for a total transaction of $8,630,129.20. Following the transaction, the insider now directly owns 23,352,826 shares in the company, valued at approximately $51,376,217.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Brookfield news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of Brookfield stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the transaction, the director now owns 15,492,168 shares in the company, valued at $175,526,263.44. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Gp Ltd Bcp sold 3,922,786 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $2.20, for a total value of $8,630,129.20. Following the sale, the insider now directly owns 23,352,826 shares of the company’s stock, valued at $51,376,217.20. The disclosure for this sale can be found here. 11.00% of the stock is owned by corporate 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.