Soroban Capital Partners LP decreased its stake in Brookfield Co. (NYSE:BN - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,273,462 shares of the company's stock after selling 808,929 shares during the period. Brookfield accounts for 7.9% of Soroban Capital Partners LP's investment portfolio, making the stock its 5th largest holding. Soroban Capital Partners LP owned about 0.62% of Brookfield worth $590,210,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Barclays PLC boosted its stake in Brookfield by 521.1% during the 3rd quarter. Barclays PLC now owns 71,402 shares of the company's stock worth $3,794,000 after purchasing an additional 59,906 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in Brookfield during the 4th quarter worth $204,000. Fifth Third Wealth Advisors LLC purchased a new position in Brookfield during the 4th quarter worth $232,000. Carnegie Investment Counsel purchased a new position in Brookfield during the 4th quarter worth $201,000. Finally, Triangle Securities Wealth Management raised its position in Brookfield by 11.2% during the 4th quarter. Triangle Securities Wealth Management now owns 90,137 shares of the company's stock worth $5,178,000 after buying an additional 9,048 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have commented on BN. TD Securities cut their price objective on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Scotiabank cut their price objective on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a research report on Monday, April 7th. Morgan Stanley cut their price target on shares of Brookfield from $83.00 to $61.00 and set an "overweight" rating for the company in a report on Monday, April 14th. CIBC cut their price target on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. cut their price target on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.
Check Out Our Latest Stock Analysis on Brookfield
Brookfield Price Performance
NYSE:BN traded up $0.22 during mid-day trading on Thursday, hitting $57.17. 1,955,767 shares of the company's stock traded hands, compared to its average volume of 2,730,036. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The firm's 50 day simple moving average is $52.98 and its 200 day simple moving average is $56.15. Brookfield Co. has a 1 year low of $39.97 and a 1 year high of $62.78. The company has a market cap of $94.18 billion, a PE ratio of 190.57 and a beta of 1.64.
Brookfield (NYSE:BN - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.08. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Sell-side analysts expect that Brookfield Co. will post 3.85 EPS for the current year.
Brookfield Dividend Announcement
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 paid a dividend of $0.09 per share. The ex-dividend date is Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.63%. Brookfield's dividend payout ratio is currently 128.57%.
Brookfield Company Profile
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Free Report)
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.
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