Brookfield Co. (NYSE:BN) Stock Position Trimmed by First Manhattan CO. LLC.

First Manhattan CO. LLC. cut its stake in Brookfield Co. (NYSE:BN - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,907,751 shares of the company's stock after selling 225,147 shares during the period. Brookfield comprises about 2.9% of First Manhattan CO. LLC.'s holdings, making the stock its 6th largest holding. First Manhattan CO. LLC. owned about 1.03% of Brookfield worth $972,957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BN. Vanguard Group Inc. lifted its holdings in Brookfield by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company's stock worth $3,443,129,000 after buying an additional 974,533 shares during the last quarter. Capital World Investors lifted its holdings in Brookfield by 3.1% during the 4th quarter. Capital World Investors now owns 59,020,303 shares of the company's stock worth $3,390,786,000 after buying an additional 1,782,034 shares during the last quarter. FIL Ltd lifted its holdings in Brookfield by 8.8% during the 4th quarter. FIL Ltd now owns 20,354,516 shares of the company's stock worth $1,169,912,000 after buying an additional 1,640,903 shares during the last quarter. Norges Bank purchased a new stake in Brookfield during the 4th quarter worth about $973,591,000. Finally, CIBC Asset Management Inc lifted its holdings in Brookfield by 6.2% during the 4th quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company's stock worth $814,585,000 after buying an additional 823,428 shares during the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BN shares. Morgan Stanley cut their target price on Brookfield from $83.00 to $61.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. cut their target price on Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. CIBC cut their target price on Brookfield from $74.00 to $72.00 and set an "outperformer" rating on the stock in a research report on Friday. Scotiabank cut their target price on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 7th. Finally, TD Securities cut their target price on Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Brookfield has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

Brookfield Stock Performance

BN stock traded down $0.88 during trading on Friday, hitting $56.73. The company had a trading volume of 2,381,674 shares, compared to its average volume of 2,741,240. The firm has a market cap of $93.46 billion, a PE ratio of 189.11 and a beta of 1.64. Brookfield Co. has a 1-year low of $39.97 and a 1-year high of $62.78. The firm has a 50-day moving average price of $51.71 and a 200-day moving average price of $55.89. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.08. The firm had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. On average, analysts expect that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.63%. The ex-dividend date is Friday, June 13th. Brookfield's dividend payout ratio (DPR) is presently 128.57%.

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.