K.J. Harrison & Partners Inc Sells 37,650 Shares of Brookfield Co. (NYSE:BN)

K.J. Harrison & Partners Inc lowered its holdings in Brookfield Co. (NYSE:BN) by 35.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 69,332 shares of the company’s stock after selling 37,650 shares during the period. K.J. Harrison & Partners Inc’s holdings in Brookfield were worth $2,786,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Brookfield by 8.9% during the third quarter. Principal Financial Group Inc. now owns 63,734,864 shares of the company’s stock worth $1,993,867,000 after acquiring an additional 5,192,256 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Brookfield by 21.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,233,299 shares of the company’s stock worth $602,966,000 after purchasing an additional 3,331,522 shares in the last quarter. FMR LLC lifted its holdings in Brookfield by 37.8% during the 3rd quarter. FMR LLC now owns 10,025,978 shares of the company’s stock valued at $313,502,000 after purchasing an additional 2,752,801 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Brookfield by 153.1% in the third quarter. Envestnet Asset Management Inc. now owns 1,848,871 shares of the company’s stock valued at $57,842,000 after buying an additional 1,118,396 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Brookfield by 1.9% during the third quarter. Vanguard Group Inc. now owns 55,429,678 shares of the company’s stock worth $1,733,286,000 after buying an additional 1,016,222 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. CIBC lifted their target price on shares of Brookfield from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Scotiabank boosted their price objective on Brookfield from $49.00 to $50.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 9th. TD Securities raised their target price on Brookfield from $61.00 to $62.00 and gave the company an “action list buy” rating in a research note on Sunday, February 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $53.00 price target on shares of Brookfield in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and a consensus target price of $47.45.

Insiders Place Their Bets

In related news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Brookfield news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the sale, the director now directly owns 15,492,168 shares in the company, valued at $175,526,263.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

Brookfield Trading Up 1.8 %

Brookfield stock traded up $0.73 during mid-day trading on Friday, hitting $40.96. The stock had a trading volume of 3,230,637 shares, compared to its average volume of 2,722,619. The stock has a 50-day simple moving average of $40.80 and a two-hundred day simple moving average of $37.96. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $67.26 billion, a PE ratio of 66.07 and a beta of 1.49. Brookfield Co. has a 12 month low of $28.84 and a 12 month high of $43.17.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The company had revenue of $24.52 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the company posted $1.12 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Brookfield Co. will post 3.75 EPS for the current year.

Brookfield Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a $0.08 dividend. The ex-dividend date was Tuesday, March 12th. This is a boost from Brookfield’s previous quarterly dividend of $0.07. This represents a $0.32 dividend on an annualized basis and a yield of 0.78%. Brookfield’s dividend payout ratio (DPR) is presently 51.61%.

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.