Brookfield Co. (NYSE:BN) is Chemistry Wealth Management LLC’s 9th Largest Position

Chemistry Wealth Management LLC increased its position in Brookfield Co. (NYSE:BN) by 5.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 210,382 shares of the company’s stock after acquiring an additional 10,729 shares during the period. Brookfield comprises approximately 2.4% of Chemistry Wealth Management LLC’s holdings, making the stock its 9th largest position. Chemistry Wealth Management LLC’s holdings in Brookfield were worth $8,809,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Blacksheep Fund Management Ltd bought a new stake in Brookfield in the 4th quarter worth approximately $101,800,000. Eldred Rock Partners LLC bought a new stake in Brookfield in the 4th quarter worth approximately $9,868,000. Choreo LLC bought a new stake in shares of Brookfield during the 4th quarter valued at $754,000. Norges Bank bought a new stake in shares of Brookfield during the 4th quarter valued at $614,104,000. Finally, Gold Investment Management Ltd. bought a new stake in shares of Brookfield during the 4th quarter valued at $4,473,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BN. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $46.00 price objective (up previously from $45.00) on shares of Brookfield in a research report on Friday, May 10th. Royal Bank of Canada lowered their target price on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Finally, Scotiabank lowered their target price on shares of Brookfield from $50.00 to $49.50 and set a “sector outperform” rating on the stock in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.10.

Insiders Place Their Bets

In other Brookfield news, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the transaction, the director now directly owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ocm Growth Holdings Llc sold 400,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the sale, the director now directly owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

Brookfield Trading Down 1.2 %

NYSE:BN traded down $0.49 during mid-day trading on Wednesday, hitting $40.85. 16,593,910 shares of the stock traded hands, compared to its average volume of 3,137,035. The stock has a market capitalization of $67.14 billion, a price-to-earnings ratio of 66.97 and a beta of 1.51. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $45.11. The firm’s 50 day moving average is $42.32 and its two-hundred day moving average is $40.92. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 1.35.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. The company had revenue of $22.91 billion for the quarter. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. During the same quarter in the previous year, the company posted $0.72 earnings per share. On average, equities research analysts predict that Brookfield Co. will post 3.35 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.32 dividend on an annualized basis and a yield of 0.78%. Brookfield’s dividend payout ratio is currently 52.46%.

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.