Forsta AP Fonden Sells 40,400 Shares of Brookfield Co. (NYSE:BN)

Forsta AP Fonden lowered its holdings in Brookfield Co. (NYSE:BN) by 15.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 219,400 shares of the company’s stock after selling 40,400 shares during the period. Forsta AP Fonden’s holdings in Brookfield were worth $9,123,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Nicholas Hoffman & Company LLC. boosted its holdings in shares of Brookfield by 3.9% in the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock worth $282,000 after buying an additional 257 shares during the last quarter. Blue Trust Inc. raised its position in Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after acquiring an additional 272 shares during the period. Mckinley Capital Management LLC boosted its stake in Brookfield by 0.9% in the first quarter. Mckinley Capital Management LLC now owns 32,649 shares of the company’s stock valued at $1,367,000 after acquiring an additional 283 shares during the last quarter. Checchi Capital Advisers LLC grew its position in shares of Brookfield by 4.5% during the 1st quarter. Checchi Capital Advisers LLC now owns 6,622 shares of the company’s stock valued at $277,000 after acquiring an additional 288 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in shares of Brookfield by 20.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock worth $71,000 after purchasing an additional 296 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 0.8 %

Shares of NYSE BN opened at $49.37 on Friday. The business has a 50-day simple moving average of $46.78 and a two-hundred day simple moving average of $43.52. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $50.46. The company has a market cap of $81.18 billion, a P/E ratio of 80.94 and a beta of 1.53. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39.

Brookfield (NYSE:BN) last released its quarterly earnings data 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 analyst estimates of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. Brookfield’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share. Research analysts anticipate that Brookfield Co. will post 3.84 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders 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 0.65%. Brookfield’s payout ratio is currently 52.46%.

Wall Street Analyst Weigh In

Several research firms recently commented on BN. JPMorgan Chase & Co. upped their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Scotiabank upped their price target on Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research report on Friday, August 9th. TD Securities lifted their price objective on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods upped their price objective 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. Finally, Royal Bank of Canada cut their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.59.

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.