Brown Brothers Harriman & Co. Sells 390 Shares of Brookfield Co. (NYSE:BN)

Brown Brothers Harriman & Co. lessened its position in Brookfield Co. (NYSE:BN) by 1.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 34,917 shares of the company’s stock after selling 390 shares during the period. Brown Brothers Harriman & Co.’s holdings in Brookfield were worth $1,450,000 at the end of the most recent quarter.

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

Brookfield Stock Performance

Shares of Brookfield stock opened at $50.41 on Tuesday. The company has a market capitalization of $82.86 billion, a PE ratio of 82.64 and a beta of 1.53. 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 company has a 50-day simple moving average of $46.93 and a two-hundred day simple moving average of $43.62. Brookfield Co. has a one year low of $28.84 and a one year high of $50.46.

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

Brookfield Dividend Announcement

The company also recently announced 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 of this dividend is Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.63%. Brookfield’s dividend payout ratio is presently 52.46%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Scotiabank upped their price objective on shares of Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. Royal Bank of Canada lowered their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Keefe, Bruyette & Woods upped their price objective on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. BMO Capital Markets upped their price objective on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.59.

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.