Callahan Advisors LLC Reduces Stock Holdings in Brookfield Co. (NYSE:BN)

Callahan Advisors LLC trimmed its holdings in shares of Brookfield Co. (NYSE:BN) by 0.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 475,004 shares of the company’s stock after selling 200 shares during the period. Brookfield comprises approximately 2.5% of Callahan Advisors LLC’s investment portfolio, making the stock its 9th biggest position. Callahan Advisors LLC’s holdings in Brookfield were worth $25,246,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in Brookfield during the 2nd quarter worth about $128,321,000. M&G Plc acquired a new stake in shares of Brookfield in the first quarter worth about $111,222,000. Capital World Investors boosted its stake in shares of Brookfield by 5.1% during the 1st 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 in the last quarter. Wulff Hansen & CO. increased its holdings in shares of Brookfield by 4,054.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock valued at $64,076,000 after acquiring an additional 1,505,372 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Brookfield by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after acquiring an additional 1,063,110 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

BN has been the topic of several recent analyst reports. Scotiabank lifted their price target on Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. BMO Capital Markets increased their price objective on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. TD Securities increased their price target on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Keefe, Bruyette & Woods lifted their price objective on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.31.

Brookfield Stock Performance

NYSE BN opened at $55.75 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The company has a market capitalization of $91.78 billion, a P/E ratio of 96.05 and a beta of 1.53. The company has a fifty day moving average of $51.91 and a 200-day moving average of $46.67. Brookfield Co. has a 52-week low of $31.43 and a 52-week high of $56.83.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $23.05 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the previous year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. As a group, equities research analysts predict that Brookfield Co. will post 3.81 EPS for the current fiscal 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 given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.57%. Brookfield’s payout ratio is presently 55.17%.

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.