Private Management Group Inc. Trims Stock Position in Brookfield Co. (NYSE:BN)

Private Management Group Inc. cut its holdings in Brookfield Co. (NYSE:BN) by 10.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 594,125 shares of the company’s stock after selling 66,340 shares during the quarter. Brookfield comprises approximately 1.1% of Private Management Group Inc.’s portfolio, making the stock its 27th largest holding. Private Management Group Inc.’s holdings in Brookfield were worth $31,578,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. grew 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 acquiring an additional 272 shares in the last quarter. Kings Path Partners LLC bought a new stake in Brookfield during the second quarter worth approximately $31,000. Family Firm Inc. acquired a new position in shares of Brookfield in the second quarter worth about $36,000. Nisa Investment Advisors LLC grew its holdings 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 buying an additional 450 shares in the last quarter. Finally, Pittenger & Anderson Inc. increased its stake in Brookfield by 100.3% in the 1st quarter. Pittenger & Anderson Inc. now owns 1,238 shares of the company’s stock valued at $52,000 after buying an additional 620 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Price Performance

NYSE BN traded up $0.14 on Friday, hitting $53.14. The company had a trading volume of 1,174,246 shares, compared to its average volume of 2,835,617. The company has a market capitalization of $87.48 billion, a PE ratio of 91.64 and a beta of 1.54. The company’s fifty day moving average price is $51.82 and its 200-day moving average price is $46.46. Brookfield Co. has a 12-month low of $31.05 and a 12-month high of $56.83. 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 (NYSE:BN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping the consensus estimate of $0.78 by $0.57. The firm had revenue of $23.05 billion for the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. Brookfield’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.75 EPS. As a group, analysts predict that Brookfield Co. will post 3.81 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.60%. The ex-dividend date was Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is 55.17%.

Wall Street Analysts Forecast Growth

BN has been the topic of several recent analyst reports. BMO Capital Markets lifted their price target on Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods boosted their target price on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Scotiabank raised their target price on shares of Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Securities increased their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Royal Bank of Canada dropped their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and an average target price of $53.31.

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.