Bridges Investment Management Inc. Sells 3,783 Shares of Brookfield Co. (NYSE:BN)

Bridges Investment Management Inc. reduced its holdings in Brookfield Co. (NYSE:BN) by 10.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,617 shares of the company’s stock after selling 3,783 shares during the period. Bridges Investment Management Inc.’s holdings in Brookfield were worth $1,734,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Brookfield by 1.9% in the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after buying an additional 1,063,110 shares in the last quarter. Capital World Investors increased 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 purchasing an additional 2,497,509 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Brookfield by 1.3% in the 1st quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock valued at $946,495,000 after purchasing an additional 299,029 shares during the period. Cooke & Bieler LP lifted its stake in Brookfield by 5.0% in the 2nd quarter. Cooke & Bieler LP now owns 5,698,773 shares of the company’s stock valued at $236,727,000 after purchasing an additional 269,813 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in Brookfield by 3.7% during the first quarter. Bessemer Group Inc. now owns 3,215,411 shares of the company’s stock worth $134,629,000 after purchasing an additional 113,241 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Brookfield Price Performance

NYSE:BN opened at $57.09 on Friday. Brookfield Co. has a 52 week low of $31.43 and a 52 week high of $57.78. 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 firm’s 50-day simple moving average is $52.47 and its 200 day simple moving average is $47.11. The firm has a market cap of $93.99 billion, a price-to-earnings ratio of 98.43 and a beta of 1.53.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. The company had revenue of $23.05 billion during the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 earnings per share. As a group, sell-side analysts predict that Brookfield Co. will post 3.81 earnings per share for the current year.

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.