Avalon Trust Co Decreases Stake in Brookfield Co. (NYSE:BN)

Avalon Trust Co cut its holdings in Brookfield Co. (NYSE:BN) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,249 shares of the company’s stock after selling 2,999 shares during the quarter. Avalon Trust Co’s holdings in Brookfield were worth $1,451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BN. Pittenger & Anderson Inc. lifted its position in shares of Brookfield by 14.9% in the fourth quarter. Pittenger & Anderson Inc. now owns 1,563 shares of the company’s stock valued at $90,000 after acquiring an additional 203 shares in the last quarter. Pinnacle Bancorp Inc. lifted its position in shares of Brookfield by 29.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after acquiring an additional 221 shares in the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Brookfield by 5.8% in the fourth quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company’s stock valued at $250,000 after acquiring an additional 240 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Brookfield by 10.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,579 shares of the company’s stock valued at $148,000 after acquiring an additional 245 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Brookfield by 2.7% in the fourth quarter. Fisher Asset Management LLC now owns 9,873 shares of the company’s stock valued at $567,000 after acquiring an additional 255 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BN. TD Securities upped their price objective on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. CIBC increased their target price on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. Scotiabank increased their target price on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley started coverage on Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Brookfield Stock Performance

Shares of NYSE:BN opened at $50.42 on Friday. The firm has a market capitalization of $82.99 billion, a PE ratio of 168.06 and a beta of 1.65. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. The business has a 50-day moving average of $57.49 and a two-hundred day moving average of $55.84. Brookfield Co. has a 12 month low of $38.18 and a 12 month high of $62.78.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, research analysts forecast that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.71%. Brookfield’s dividend payout ratio is presently 120.00%.

About Brookfield

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.