Gateway Investment Advisers LLC Sells 65,584 Shares of Brookfield Co. (NYSE:BN)

Gateway Investment Advisers LLC trimmed its holdings in shares of Brookfield Co. (NYSE:BN) by 30.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,258 shares of the company’s stock after selling 65,584 shares during the period. Gateway Investment Advisers LLC’s holdings in Brookfield were worth $6,200,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Brookfield by 1.9% in the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock worth $2,406,700,000 after purchasing an additional 1,063,110 shares during the period. Capital World Investors grew its stake in Brookfield by 5.1% in the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock valued at $2,173,923,000 after acquiring an additional 2,497,509 shares during the period. TD Asset Management Inc increased its holdings in shares of Brookfield by 16.2% in the fourth quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock worth $1,069,892,000 after acquiring an additional 3,702,266 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of Brookfield by 1.3% during the first quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock worth $946,495,000 after purchasing an additional 299,029 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in shares of Brookfield by 7.3% during the 4th quarter. CIBC Asset Management Inc now owns 16,187,795 shares of the company’s stock valued at $651,399,000 after purchasing an additional 1,098,854 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.90, for a total value of $4,760,000.00. Following the transaction, the director now owns 10,779,668 shares in the company, valued at $128,278,049.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.00% of the stock is currently owned by company insiders.

Brookfield Stock Performance

BN stock traded up $0.48 during trading hours on Friday, reaching $44.92. The stock had a trading volume of 1,905,807 shares, compared to its average volume of 3,224,635. The stock has a 50-day simple moving average of $43.76 and a 200 day simple moving average of $42.22. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $49.44. The stock has a market capitalization of $73.83 billion, a PE ratio of 73.64 and a beta of 1.52. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.17 and a quick ratio of 1.02.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. The business had revenue of $23.05 billion for the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. Analysts predict that Brookfield Co. will post 3.35 EPS for the current fiscal year.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 12th will be paid a $0.08 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.71%. Brookfield’s dividend payout ratio (DPR) is presently 52.46%.

Analyst Ratings Changes

Several research firms recently commented on BN. Keefe, Bruyette & Woods boosted their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday. Royal Bank of Canada cut their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday. TD Securities increased their price objective on Brookfield from $61.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Scotiabank lifted their target price on Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price target on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $48.78.

Brookfield 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.