Gulf International Bank UK Ltd Sells 5,026 Shares of Brookfield Co. (NYSE:BN)

Gulf International Bank UK Ltd cut its stake in Brookfield Co. (NYSE:BN) by 55.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,003 shares of the company’s stock after selling 5,026 shares during the period. Gulf International Bank UK Ltd’s holdings in Brookfield were worth $212,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BN. Blue Trust Inc. raised its position in shares of Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after acquiring an additional 272 shares in the last quarter. Kings Path Partners LLC bought a new stake in Brookfield in the second quarter worth approximately $31,000. Family Firm Inc. acquired a new position in Brookfield in the second quarter valued at approximately $36,000. Nisa Investment Advisors LLC boosted its holdings in shares of Brookfield by 63.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock worth $48,000 after buying an additional 450 shares in the last quarter. Finally, Asset Dedication LLC acquired a new stake in shares of Brookfield during the 2nd quarter worth approximately $56,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BN. Royal Bank of Canada dropped their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. BMO Capital Markets increased their price objective on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. TD Securities boosted their target price on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. upped their price target on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Scotiabank raised their price objective on Brookfield from $51.25 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.31.

Brookfield Stock Performance

Shares of BN opened at $57.09 on Friday. Brookfield Co. has a 52 week low of $31.43 and a 52 week high of $57.78. 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 50 day moving average price of $52.47 and a two-hundred day moving average price of $47.11. The firm has a market capitalization of $93.99 billion, a P/E ratio of 98.43 and a beta of 1.53.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.57. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The business had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. Brookfield’s revenue was down 2.6% compared to the same quarter last year. Equities analysts forecast that Brookfield Co. will post 3.81 earnings per share for the current fiscal year.

Brookfield Company 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.