Clearstead Trust LLC Reduces Holdings in Brookfield Co. (NYSE:BN)

Clearstead Trust LLC lowered its position in Brookfield Co. (NYSE:BN) by 15.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 18,098 shares of the company’s stock after selling 3,235 shares during the period. Clearstead Trust LLC’s holdings in Brookfield were worth $726,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BN. FinTrust Capital Advisors LLC acquired a new position in Brookfield during the third quarter worth about $25,000. Sunbelt Securities Inc. boosted its holdings in shares of Brookfield by 4,670.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock worth $25,000 after purchasing an additional 794 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Brookfield by 256.2% in the fourth quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after purchasing an additional 638 shares during the last quarter. Oakworth Capital Inc. lifted its position in Brookfield by 172.3% during the fourth quarter. Oakworth Capital Inc. now owns 1,073 shares of the company’s stock worth $43,000 after buying an additional 679 shares in the last quarter. Finally, Castleview Partners LLC acquired a new position in Brookfield during the third quarter worth $34,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of BN stock traded up $0.98 during midday trading on Friday, reaching $42.63. 3,873,439 shares of the company were exchanged, compared to its average volume of 3,520,128. The company’s 50 day moving average price is $40.87 and its two-hundred day moving average price is $38.26. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 1.15. The company has a market cap of $70.00 billion, a P/E ratio of 68.76 and a beta of 1.48. Brookfield Co. has a 12 month low of $28.84 and a 12 month high of $43.17.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 8th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.69 by $0.14. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The firm had revenue of $24.52 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the company earned $1.12 earnings per share. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts expect that Brookfield Co. will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were issued a dividend of $0.08 per share. This is a positive change from Brookfield’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Tuesday, March 12th. Brookfield’s payout ratio is presently 51.61%.

Insider Buying and Selling at Brookfield

In related news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Brookfield news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the completion of the transaction, the director now directly owns 15,492,168 shares in the company, valued at $175,526,263.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The disclosure for this sale can be found here. 11.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BN has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their price target on Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Canaccord Genuity Group increased their price target on shares of Brookfield from $41.00 to $42.50 and gave the company a “hold” rating in a research note on Friday, February 9th. CIBC lifted their price target on shares of Brookfield from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Scotiabank increased their price objective on Brookfield from $49.00 to $50.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada reduced their target price on Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Brookfield has a consensus rating of “Moderate Buy” and a consensus price target of $47.25.

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.