Brookfield Co. (NYSE:BN) Stake Trimmed by Hi Line Capital Management LLC

Hi Line Capital Management LLC reduced its position in Brookfield Co. (NYSE:BN) by 18.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 253,123 shares of the company’s stock after selling 56,557 shares during the quarter. Brookfield accounts for approximately 6.6% of Hi Line Capital Management LLC’s holdings, making the stock its 3rd biggest holding. Hi Line Capital Management LLC’s holdings in Brookfield were worth $13,453,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BN. Blue Trust Inc. boosted its stake in shares of Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares in the last quarter. Kings Path Partners LLC bought a new position in shares of Brookfield during the second quarter valued at approximately $31,000. Family Firm Inc. bought a new position in shares of Brookfield during the second quarter valued at approximately $36,000. Nisa Investment Advisors LLC boosted its stake in shares of Brookfield by 63.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock valued at $48,000 after purchasing an additional 450 shares in the last quarter. Finally, Pittenger & Anderson Inc. boosted its stake in shares of Brookfield by 100.3% during the first quarter. Pittenger & Anderson Inc. now owns 1,238 shares of the company’s stock valued at $52,000 after purchasing an additional 620 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Trading Down 1.9 %

NYSE BN opened at $53.02 on Friday. The company has a fifty day simple moving average of $51.74 and a two-hundred day simple moving average of $46.36. The stock has a market cap of $87.29 billion, a P/E ratio of 91.42 and a beta of 1.54. Brookfield Co. has a 12-month low of $28.84 and a 12-month high of $56.83. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39.

Brookfield (NYSE:BN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. The business had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the company posted $0.75 earnings per share. On average, analysts forecast that Brookfield Co. will post 3.81 earnings per share for the current year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were issued a dividend of $0.08 per share. 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 presently 55.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. raised their target price on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. TD Securities raised their target price on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Keefe, Bruyette & Woods raised their target price on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Finally, Scotiabank raised their target price on shares of Brookfield from $51.25 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.31.

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.