Meixler Investment Management Ltd. Sells 14,788 Shares of Brookfield Co. (NYSE:BN)

Meixler Investment Management Ltd. lowered its holdings in Brookfield Co. (NYSE:BN) by 47.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,216 shares of the company’s stock after selling 14,788 shares during the period. Meixler Investment Management Ltd.’s holdings in Brookfield were worth $651,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. FinTrust Capital Advisors LLC bought a new position in shares of Brookfield in the 3rd quarter valued at about $25,000. Sunbelt Securities Inc. grew its position in shares of Brookfield by 4,670.6% in the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock valued at $25,000 after acquiring an additional 794 shares during the period. Castleview Partners LLC bought a new position in shares of Brookfield in the 3rd quarter valued at about $34,000. Allworth Financial LP grew its position in shares of Brookfield by 256.2% in the 4th quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after acquiring an additional 638 shares during the period. Finally, First Command Advisory Services Inc. bought a new position in shares of Brookfield in the 3rd quarter valued at about $37,000. Institutional investors own 61.60% of the company’s stock.

Analysts Set New Price Targets

BN has been the subject of a number of analyst reports. TheStreet raised shares of Brookfield from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Royal Bank of Canada restated an “outperform” rating and set a $53.00 target price on shares of Brookfield in a research note on Friday, April 12th. JPMorgan Chase & Co. raised their target price on shares of Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Scotiabank raised their target price on shares of Brookfield from $49.00 to $50.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 9th. Finally, Canaccord Genuity Group raised their target price on shares of Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, seven have issued 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 a consensus target price of $47.45.

Brookfield Stock Performance

Brookfield stock traded up $0.73 during midday trading on Friday, hitting $40.96. The company’s stock had a trading volume of 3,230,696 shares, compared to its average volume of 2,957,519. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $43.17. 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 company has a 50-day moving average price of $40.80 and a two-hundred day moving average price of $38.00. The company has a market cap of $67.26 billion, a price-to-earnings ratio of 66.07 and a beta of 1.49.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.14. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The business had revenue of $24.52 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company earned $1.12 EPS. The business’s revenue was up 1.3% on a year-over-year basis. As a group, sell-side analysts predict that Brookfield Co. will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a $0.08 dividend. 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 0.78%. Brookfield’s payout ratio is 51.61%.

Insiders Place Their Bets

In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total value of $155,099.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total value of $155,099.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.

Brookfield 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.