National Bank of Canada FI Sells 278,663 Shares of Brookfield Co. (NYSE:BN)

National Bank of Canada FI decreased its holdings in shares of Brookfield Co. (NYSE:BN) by 8.1% in the fourth quarter, HoldingsChannel reports. The fund owned 3,172,962 shares of the company’s stock after selling 278,663 shares during the quarter. National Bank of Canada FI’s holdings in Brookfield were worth $122,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BN. Axxcess Wealth Management LLC purchased a new position in Brookfield during the fourth quarter valued at approximately $249,000. Sapient Capital LLC purchased a new position in shares of Brookfield during the 4th quarter valued at $406,000. M&T Bank Corp boosted its holdings in Brookfield by 3.3% in the 4th quarter. M&T Bank Corp now owns 9,942 shares of the company’s stock worth $400,000 after buying an additional 314 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in Brookfield by 1,049.0% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 7,181 shares of the company’s stock worth $289,000 after buying an additional 6,556 shares during the period. Finally, Natixis Advisors L.P. increased its stake in Brookfield by 10.5% in the 4th quarter. Natixis Advisors L.P. now owns 481,899 shares of the company’s stock worth $19,333,000 after buying an additional 45,958 shares in the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on BN. JPMorgan Chase & Co. boosted their price objective on Brookfield from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Royal Bank of Canada dropped their price target on Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday, April 29th. Scotiabank lifted their price objective on shares of Brookfield from $49.00 to $50.00 and gave the company a “sector outperform” rating in a research report on Friday, February 9th. BMO Capital Markets upped their target price on shares of Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Finally, TheStreet upgraded shares of Brookfield from a “c” rating to a “b” rating in a report on Thursday, February 8th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.25.

Insider Buying and Selling

In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total value of $155,099.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The disclosure for this sale can be found here. 11.00% of the stock is owned by corporate insiders.

Brookfield Price Performance

BN stock traded up $0.98 during trading on Friday, hitting $42.63. 3,873,439 shares of the company’s stock traded hands, compared to its average volume of 3,520,128. The business has a fifty day simple moving average of $40.87 and a 200 day simple moving average of $38.29. Brookfield Co. has a 52 week low of $28.84 and a 52 week high of $43.17. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 1.15. The stock has a market capitalization of $70.00 billion, a price-to-earnings ratio of 68.76 and a beta of 1.48.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.69 by $0.14. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The company had revenue of $24.52 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the business posted $1.12 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. As a group, research analysts expect that Brookfield Co. will post 3.35 EPS for the current fiscal year.

Brookfield Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, March 13th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Tuesday, March 12th. This is a positive change from Brookfield’s previous quarterly dividend of $0.07. Brookfield’s dividend payout ratio is presently 51.61%.

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.