Brookfield Co. (NYSE:BN) Stake Lessened by Cross Staff Investments Inc

Cross Staff Investments Inc decreased its holdings in shares of Brookfield Co. (NYSE:BN) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,666 shares of the company’s stock after selling 432 shares during the period. Cross Staff Investments Inc’s holdings in Brookfield were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Eldred Rock Partners LLC acquired a new position in Brookfield during the fourth quarter worth $9,868,000. Private Trust Co. NA grew its stake in Brookfield by 30.5% during the third quarter. Private Trust Co. NA now owns 2,055 shares of the company’s stock worth $64,000 after buying an additional 480 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Brookfield by 4.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,841,070 shares of the company’s stock worth $182,650,000 after buying an additional 273,474 shares during the last quarter. Northside Capital Management LLC acquired a new stake in Brookfield in the fourth quarter valued at approximately $229,000. Finally, Lazard Asset Management LLC bought a new position in Brookfield in the third quarter valued at about $23,667,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BN shares. BMO Capital Markets boosted their price target on shares of Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Canaccord Genuity Group raised their price objective on shares of Brookfield from $41.00 to $42.50 and gave the company a “hold” rating in a research report on Friday, February 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $53.00 price objective on shares of Brookfield in a research note on Friday, April 12th. TD Securities lifted their price target on shares of Brookfield from $61.00 to $62.00 and gave the stock an “action list buy” rating in a research note on Sunday, February 11th. Finally, CIBC boosted their price objective on Brookfield from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and an average target price of $47.45.

Insider Transactions at Brookfield

In other Brookfield news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the sale, the director now directly owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 11.00% of the stock is owned by insiders.

Brookfield Stock Performance

Shares of BN stock traded up $0.65 during trading hours on Friday, hitting $40.88. The stock had a trading volume of 1,162,139 shares, compared to its average volume of 2,696,579. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.15 and a quick ratio of 0.99. The firm has a market capitalization of $67.13 billion, a PE ratio of 64.87 and a beta of 1.49. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $43.17. The stock’s 50 day moving average is $40.79 and its 200 day moving average is $37.88.

Brookfield (NYSE:BN) last posted its quarterly 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 net margin of 1.18% and a return on equity of 3.22%. The company had revenue of $24.52 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm earned $1.12 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, research analysts forecast that Brookfield Co. will post 3.75 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.78%. This is a positive change from Brookfield’s previous quarterly dividend of $0.07. Brookfield’s payout ratio is 51.61%.

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.