Hohimer Wealth Management LLC Purchases New Position in Brookfield Co. (NYSE:BN)

Hohimer Wealth Management LLC acquired a new position in shares of Brookfield Co. (NYSE:BN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 101,312 shares of the company’s stock, valued at approximately $4,208,000. Brookfield makes up about 1.0% of Hohimer Wealth Management LLC’s investment portfolio, making the stock its 28th biggest position.

Several other institutional investors and hedge funds also recently modified their holdings of BN. Capital World Investors grew its holdings in Brookfield by 102.2% during the 4th quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock valued at $1,982,903,000 after purchasing an additional 24,975,364 shares in the last quarter. Norges Bank purchased a new stake in shares of Brookfield during the fourth quarter worth about $614,104,000. TD Asset Management Inc lifted its stake in shares of Brookfield by 16.2% in the fourth quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock worth $1,069,892,000 after acquiring an additional 3,702,266 shares in the last quarter. SG Americas Securities LLC purchased a new position in Brookfield in the second quarter valued at about $128,321,000. Finally, M&G Plc acquired a new stake in Brookfield during the 1st quarter valued at approximately $111,222,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of Brookfield stock traded up $0.22 during trading hours on Thursday, reaching $47.72. The company’s stock had a trading volume of 398,690 shares, compared to its average volume of 3,093,551. Brookfield Co. has a one year low of $28.84 and a one year high of $50.46. The company’s 50 day simple moving average is $45.99 and its 200 day simple moving average is $43.19. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The stock has a market cap of $78.44 billion, a P/E ratio of 77.87 and a beta of 1.52.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. The company had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. Brookfield’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. As a group, analysts expect that Brookfield Co. will post 3.84 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be issued a $0.08 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.67%. Brookfield’s dividend payout ratio is currently 52.46%.

Insider Transactions at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the transaction, the director now owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BN shares. Royal Bank of Canada cut their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Keefe, Bruyette & Woods upped their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. TD Securities raised their price objective on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. boosted their target price on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Scotiabank increased their price target on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.84.

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.