Brookfield Co. (NYSE:BN) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its stake in Brookfield Co. (NYSE:BN) by 6.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,200 shares of the company’s stock after selling 4,000 shares during the quarter. Gabelli Funds LLC’s holdings in Brookfield were worth $2,646,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 1,063,110 shares during the last quarter. Capital World Investors raised its holdings in shares of Brookfield by 5.1% in the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after acquiring an additional 2,497,509 shares during the last quarter. TD Asset Management Inc raised 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 during the last quarter. CIBC Asset Management Inc increased its stake in Brookfield by 7.3% in the fourth 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 during the last quarter. Finally, Norges Bank acquired a new position in Brookfield in the fourth quarter valued at $614,104,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Trading Up 2.0 %

BN stock traded up $0.94 during trading on Friday, reaching $47.26. 16,783,383 shares of the stock traded hands, compared to its average volume of 2,228,559. The business’s 50 day moving average price is $43.39 and its 200-day moving average price is $41.77. Brookfield Co. has a 52-week low of $28.84 and a 52-week high of $47.57. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.17 and a quick ratio of 1.02. The firm has a market capitalization of $77.69 billion, a PE ratio of 77.48 and a beta of 1.52.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. The firm had revenue of $22.91 billion during the quarter. During the same period last year, the firm posted $0.72 EPS. As a group, sell-side analysts forecast that Brookfield Co. will post 3.35 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Thursday, June 13th. Brookfield’s payout ratio is 52.46%.

Insider Transactions at Brookfield

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 11.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank of Canada dropped their target price on Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Keefe, Bruyette & Woods dropped their target price on Brookfield from $46.00 to $44.00 and set a “market perform” rating for the company in a research note on Friday, July 12th. Finally, Scotiabank dropped their target price on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating for the company in a research note on Friday, May 10th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and a consensus target price of $47.90.

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.