Trust Co. of Vermont Sells 9,314 Shares of Brookfield Co. (NYSE:BN)

Trust Co. of Vermont lessened its stake in shares of Brookfield Co. (NYSE:BN) by 19.4% in the second quarter, Holdings Channel reports. The institutional investor owned 38,618 shares of the company’s stock after selling 9,314 shares during the period. Trust Co. of Vermont’s holdings in Brookfield were worth $1,604,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Connectus Wealth LLC increased its holdings in shares of Brookfield by 1,049.1% in the 4th quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock worth $25,000 after purchasing an additional 557,749 shares in the last quarter. Fortis Group Advisors LLC increased its position in Brookfield by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after acquiring an additional 337 shares during the last quarter. Allworth Financial LP increased its position in Brookfield by 256.2% during the fourth quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after acquiring an additional 638 shares during the last quarter. Salem Investment Counselors Inc. purchased a new stake in Brookfield during the first quarter valued at $42,000. Finally, Oakworth Capital Inc. increased its position in Brookfield by 172.3% during the fourth quarter. Oakworth Capital Inc. now owns 1,073 shares of the company’s stock valued at $43,000 after acquiring an additional 679 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Insider Activity at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the completion of the transaction, the director now directly owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The sale was disclosed in a filing with the SEC, which is available through this link. 11.00% of the stock is owned by corporate insiders.

Brookfield Price Performance

Shares of NYSE BN traded up $0.90 during mid-day trading on Tuesday, reaching $44.67. The company’s stock had a trading volume of 4,563,115 shares, compared to its average volume of 3,237,120. The firm has a market capitalization of $73.42 billion, a PE ratio of 73.23 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. The stock has a fifty day moving average of $43.67 and a two-hundred day moving average of $42.15. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $49.44.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.77 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 company had revenue of $22.91 billion during the quarter. During the same period in the previous year, the company posted $0.72 earnings per share. As a group, sell-side analysts anticipate that Brookfield Co. will post 3.35 EPS for the current fiscal year.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 13th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend was Thursday, June 13th. Brookfield’s payout ratio is presently 52.46%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BN. TD Securities upped their price objective on Brookfield from $61.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada cut their price target on Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Keefe, Bruyette & Woods cut their price target on Brookfield from $46.00 to $44.00 and set a “market perform” rating for the company in a report on Friday, July 12th. JPMorgan Chase & Co. boosted their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Scotiabank boosted their price target on Brookfield from $49.50 to $50.50 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

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.