Brookfield Co. (NYSE:BN) Shares Sold by Cannell & Co.

Cannell & Co. cut its holdings in Brookfield Co. (NYSE:BN) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,988,248 shares of the company’s stock after selling 44,534 shares during the quarter. Brookfield comprises approximately 2.5% of Cannell & Co.’s holdings, making the stock its 7th largest position. Cannell & Co. owned about 0.12% of Brookfield worth $79,769,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC bought a new position in Brookfield during the third quarter worth $25,000. Sunbelt Securities Inc. increased its position in Brookfield by 4,670.6% during the third quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock worth $25,000 after acquiring an additional 794 shares during the period. 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 worth $36,000 after acquiring an additional 638 shares during the period. 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 worth $43,000 after acquiring an additional 679 shares during the period. Finally, Castleview Partners LLC bought a new position in Brookfield during the third quarter worth $34,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Brookfield Price Performance

NYSE BN traded up $0.31 on Wednesday, hitting $40.43. 1,402,694 shares of the company were exchanged, compared to its average volume of 2,714,209. The firm has a 50 day moving average of $40.81 and a two-hundred day moving average of $38.09. The company has a market cap of $66.39 billion, a P/E ratio of 65.13 and a beta of 1.49. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $43.17.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The company had revenue of $24.52 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the company posted $1.12 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. On average, equities analysts predict that Brookfield Co. will post 3.75 EPS for the current year.

Brookfield Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were paid a $0.08 dividend. The ex-dividend date was Tuesday, March 12th. This is a boost from Brookfield’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.79%. Brookfield’s dividend payout ratio is 51.61%.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. TD Securities boosted their price target on shares of Brookfield from $61.00 to $62.00 and gave the company an “action list buy” rating in a report on Sunday, February 11th. Canaccord Genuity Group boosted their price target on shares of Brookfield from $41.00 to $42.50 and gave the company a “hold” rating in a report on Friday, February 9th. TheStreet raised shares of Brookfield from a “c” rating to a “b” rating in a report on Thursday, February 8th. Finally, BMO Capital Markets boosted their price target on shares of Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Two equities research 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.