Brookfield Co. (NYSE:BN) Stock Position Lifted by Adalta Capital Management LLC

Adalta Capital Management LLC raised its stake in shares of Brookfield Co. (NYSE:BN) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 173,588 shares of the company’s stock after buying an additional 1,000 shares during the period. Brookfield comprises about 5.2% of Adalta Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding. Adalta Capital Management LLC’s holdings in Brookfield were worth $9,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of BN. Norges Bank acquired a new stake in shares of Brookfield in the fourth quarter valued at about $973,591,000. Baillie Gifford & Co. boosted its position in shares of Brookfield by 809.5% in the fourth quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock valued at $211,159,000 after acquiring an additional 3,271,403 shares during the period. Regents of The University of California bought a new position in Brookfield during the fourth quarter worth $154,140,000. Geode Capital Management LLC raised its stake in Brookfield by 32.0% during the 4th quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company’s stock valued at $460,489,000 after purchasing an additional 1,930,218 shares during the last quarter. Finally, Capital World Investors boosted its holdings in Brookfield by 3.1% in the 4th quarter. Capital World Investors now owns 59,020,303 shares of the company’s stock valued at $3,390,786,000 after purchasing an additional 1,782,034 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BN has been the topic of a number of research reports. Scotiabank lowered their price objective on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. TD Securities cut their price target on shares of Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a report on Monday, May 5th. CIBC reduced their price objective on Brookfield from $74.00 to $72.00 and set an “outperformer” rating on the stock in a research note on Friday, May 9th. Finally, Morgan Stanley dropped their target price on shares of Brookfield from $83.00 to $61.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Brookfield Trading Down 0.6%

NYSE:BN opened at $59.03 on Wednesday. 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’s 50-day simple moving average is $52.85 and its 200-day simple moving average is $56.15. Brookfield Co. has a fifty-two week low of $39.97 and a fifty-two week high of $62.78. The stock has a market capitalization of $97.25 billion, a PE ratio of 196.77 and a beta of 1.64.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.90 by $0.08. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. Sell-side analysts expect that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.61%. Brookfield’s payout ratio is presently 128.57%.

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.