Brookfield Co. (NYSE:BN) is First Manhattan CO. LLC.’s 6th Largest Position

First Manhattan CO. LLC. cut its holdings in shares of Brookfield Co. (NYSE:BN) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,907,751 shares of the company’s stock after selling 225,147 shares during the period. Brookfield accounts for approximately 2.9% of First Manhattan CO. LLC.’s investment portfolio, making the stock its 6th biggest holding. First Manhattan CO. LLC. owned about 1.03% of Brookfield worth $972,957,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CoreCap Advisors LLC acquired a new stake in Brookfield in the 4th quarter worth approximately $29,000. Compass Planning Associates Inc acquired a new stake in Brookfield during the 4th quarter worth about $30,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Brookfield in the fourth quarter valued at about $48,000. Transce3nd LLC purchased a new position in shares of Brookfield in the fourth quarter worth about $51,000. Finally, Promus Capital LLC purchased a new stake in Brookfield in the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 3.0 %

Brookfield stock opened at $57.54 on Friday. The stock’s fifty day simple moving average is $51.65 and its 200-day simple moving average is $55.84. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. Brookfield Co. has a twelve month low of $39.97 and a twelve month high of $62.78. The firm has a market capitalization of $94.80 billion, a P/E ratio of 191.81 and a beta of 1.64.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities analysts expect that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.63%. The ex-dividend date was Friday, March 14th. Brookfield’s payout ratio is 120.00%.

Wall Street Analyst Weigh In

BN has been the subject of a number of research reports. CIBC boosted their target price on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. Scotiabank lowered their target price on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 7th. Morgan Stanley reduced their price target on Brookfield from $83.00 to $61.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. TD Securities dropped their price objective on shares of Brookfield from $77.00 to $74.00 and set a “buy” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and a consensus target price of $62.75.

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.