Brookfield Co. (NYSE:BN) is First Manhattan CO. LLC.'s 6th Largest Position

First Manhattan CO. LLC. decreased its position in shares of Brookfield Co. (NYSE:BN - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,907,751 shares of the company's stock after selling 225,147 shares during the quarter. Brookfield comprises approximately 2.9% of First Manhattan CO. LLC.'s investment portfolio, making the stock its 6th largest position. First Manhattan CO. LLC. owned approximately 1.03% of Brookfield worth $972,957,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Family Management Corp acquired a new stake in Brookfield in the 4th quarter valued at $563,000. D. E. Shaw & Co. Inc. raised its stake in Brookfield by 426.7% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 23,700 shares of the company's stock valued at $1,361,000 after acquiring an additional 19,200 shares during the period. Deutsche Bank AG increased its position in shares of Brookfield by 10.3% during the fourth quarter. Deutsche Bank AG now owns 1,722,720 shares of the company's stock valued at $98,970,000 after buying an additional 160,841 shares during the period. Duquesne Family Office LLC bought a new stake in shares of Brookfield during the fourth quarter valued at about $35,057,000. Finally, EP Wealth Advisors LLC bought a new position in shares of Brookfield in the fourth quarter worth approximately $305,000. Institutional investors own 61.60% of the company's stock.

Brookfield Stock Up 0.5%

Shares of BN traded up $0.30 during mid-day trading on Wednesday, reaching $59.67. The company's stock had a trading volume of 1,105,260 shares, compared to its average volume of 2,730,392. The stock has a market cap of $98.30 billion, a PE ratio of 198.91 and a beta of 1.64. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. Brookfield Co. has a 12-month low of $39.97 and a 12-month high of $62.78. The company's 50 day moving average is $51.92 and its 200 day moving average is $55.95.

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

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Friday, June 13th. Brookfield's payout ratio is currently 128.57%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BN. CIBC dropped their price objective on Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a research note on Friday, May 9th. TD Securities reduced their price target on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price target on Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Morgan Stanley dropped their price objective on Brookfield from $83.00 to $61.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Finally, Scotiabank dropped 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $63.00.

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.