Greenleaf Trust Acquires Shares of 6,233 Brookfield Co. (NYSE:BN)

Greenleaf Trust bought a new position in shares of Brookfield Co. (NYSE:BN) during the 3rd quarter, Holdings Channel reports. The firm bought 6,233 shares of the company’s stock, valued at approximately $331,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nicholas Hoffman & Company LLC. lifted its position in Brookfield by 3.9% during the 2nd quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock worth $282,000 after buying an additional 257 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after acquiring an additional 272 shares during the last quarter. Mckinley Capital Management LLC lifted its position in shares of Brookfield by 0.9% during the first quarter. Mckinley Capital Management LLC now owns 32,649 shares of the company’s stock worth $1,367,000 after purchasing an additional 283 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Brookfield by 20.6% during the second quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock valued at $71,000 after purchasing an additional 296 shares during the last quarter. Finally, Pembroke Management LTD increased its holdings in shares of Brookfield by 4.4% in the first quarter. Pembroke Management LTD now owns 7,339 shares of the company’s stock valued at $307,000 after purchasing an additional 310 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Down 1.4 %

Brookfield stock opened at $53.50 on Friday. The firm has a market capitalization of $87.94 billion, a price-to-earnings ratio of 87.70 and a beta of 1.54. The company’s 50 day simple moving average is $51.19 and its 200 day simple moving average is $46.00. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $56.83.

Brookfield (NYSE:BN) last announced its quarterly 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. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The company had revenue of $23.05 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same period last year, the firm posted $0.75 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Brookfield Co. will post 3.84 EPS for the current year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.60%. Brookfield’s dividend payout ratio (DPR) is currently 52.46%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. BMO Capital Markets upped their price objective on Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Royal Bank of Canada decreased their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Keefe, Bruyette & Woods upped their target price on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Scotiabank raised their target price on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research note on Friday, August 9th. Finally, TD Securities boosted their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and a consensus price target of $51.59.

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.