Legacy Capital Wealth Partners LLC Lowers Stock Holdings in Brookfield Co. (NYSE:BN)

Legacy Capital Wealth Partners LLC trimmed its position in Brookfield Co. (NYSE:BN) by 56.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,994 shares of the company’s stock after selling 7,688 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Brookfield were worth $344,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pinnacle Bancorp Inc. lifted its holdings in shares of Brookfield by 29.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock worth $56,000 after buying an additional 221 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Brookfield by 10.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,579 shares of the company’s stock worth $148,000 after buying an additional 245 shares in the last quarter. Joel Isaacson & Co. LLC increased its position in shares of Brookfield by 5.3% in the fourth quarter. Joel Isaacson & Co. LLC now owns 5,625 shares of the company’s stock worth $323,000 after purchasing an additional 283 shares during the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Brookfield by 2.9% in the third quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock worth $551,000 after purchasing an additional 292 shares during the last quarter. Finally, Caprock Group LLC increased its position in shares of Brookfield by 2.5% in the third quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock worth $655,000 after purchasing an additional 300 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Up 0.8 %

Shares of Brookfield stock opened at $60.88 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. Brookfield Co. has a 52-week low of $38.18 and a 52-week high of $62.78. The stock has a market capitalization of $100.20 billion, a price-to-earnings ratio of 129.53 and a beta of 1.57. The company’s 50 day moving average price is $58.44 and its 200-day moving average price is $54.61.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.74% and a net margin of 1.00%. Equities research analysts forecast that Brookfield Co. will post 3.83 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Friday, March 14th. Brookfield’s payout ratio is 68.09%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BN. Morgan Stanley began coverage on shares of Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective on the stock. TD Securities upped their price objective on shares of Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price objective (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. CIBC upped their price objective on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. Finally, Scotiabank upped their price objective on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

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.