Parkside Investments LLC Reduces Stock Position in Brookfield Co. (NYSE:BN)

Parkside Investments LLC lessened its position in shares of Brookfield Co. (NYSE:BN - Free Report) by 23.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 154,234 shares of the company's stock after selling 46,629 shares during the quarter. Parkside Investments LLC's holdings in Brookfield were worth $8,083,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in shares of Brookfield by 1.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 78,682 shares of the company's stock valued at $4,520,000 after acquiring an additional 974 shares during the period. Van ECK Associates Corp bought a new stake in Brookfield during the fourth quarter valued at about $341,000. AMS Capital Ltda bought a new stake in Brookfield during the fourth quarter valued at about $5,529,000. Blue Zone Wealth Advisors LLC increased its position in Brookfield by 0.9% in the fourth quarter. Blue Zone Wealth Advisors LLC now owns 145,497 shares of the company's stock worth $8,359,000 after buying an additional 1,293 shares in the last quarter. Finally, Baillie Gifford & Co. increased its holdings in Brookfield by 809.5% in the 4th quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company's stock worth $211,159,000 after acquiring an additional 3,271,403 shares in the last quarter. Institutional investors own 61.60% of the company's stock.

Wall Street Analyst Weigh In

BN has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. CIBC lowered their target price on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating on the stock in a research note on Friday, May 9th. Scotiabank dropped their target price on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a report on Monday, April 7th. Wall Street Zen raised Brookfield from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. Finally, Morgan Stanley restated an "overweight" rating on shares of Brookfield in a research report on Monday, May 19th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Brookfield Price Performance

NYSE BN traded down $1.49 on Friday, reaching $57.75. The company had a trading volume of 1,749,410 shares, compared to its average volume of 2,679,945. The stock has a market capitalization of $95.15 billion, a PE ratio of 192.52 and a beta of 1.66. Brookfield Co. has a 12 month low of $39.97 and a 12 month high of $62.78. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. The firm's 50 day moving average price is $54.79 and its 200 day moving average price is $56.25.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, beating 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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. As a group, equities analysts predict that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.62%. The ex-dividend date is Friday, June 13th. Brookfield's dividend payout ratio 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.