Brookfield Co. (NYSE:BN) Shares Sold by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC reduced its stake in Brookfield Co. (NYSE:BN) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,265 shares of the company’s stock after selling 822 shares during the period. Princeton Global Asset Management LLC’s holdings in Brookfield were worth $1,219,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BN. CoreCap Advisors LLC purchased a new stake in shares of Brookfield in the fourth quarter worth about $29,000. Compass Planning Associates Inc acquired a new position in Brookfield during the 4th quarter worth approximately $30,000. ST Germain D J Co. Inc. purchased a new position in Brookfield in the 1st quarter worth approximately $28,000. Sunbelt Securities Inc. grew its position in Brookfield by 164.0% in the fourth quarter. Sunbelt Securities Inc. now owns 726 shares of the company’s stock valued at $42,000 after acquiring an additional 451 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Brookfield during the fourth quarter valued at approximately $48,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Price Performance

BN opened at $58.88 on Friday. The company has a market capitalization of $97.01 billion, a P/E ratio of 196.27 and a beta of 1.66. The company has a 50-day moving average of $54.00 and a 200-day moving average of $56.22. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. Brookfield Co. has a 1-year low of $39.97 and a 1-year high of $62.78.

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

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.09 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.61%. Brookfield’s payout ratio is 128.57%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BN. TD Securities decreased their target price on shares of Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. decreased their price objective on shares of Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. CIBC lowered their target price on Brookfield from $74.00 to $72.00 and set an “outperformer” rating for the company in a research note on Friday, May 9th. Wall Street Zen cut Brookfield from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. Finally, Scotiabank reduced their price target on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

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.