Ritholtz Wealth Management Purchases 7,392 Shares of Brookfield Co. (NYSE:BN)

Ritholtz Wealth Management increased its position in Brookfield Co. (NYSE:BN) by 17.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,924 shares of the company’s stock after buying an additional 7,392 shares during the period. Ritholtz Wealth Management’s holdings in Brookfield were worth $2,564,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Brookfield by 1.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 78,682 shares of the company’s stock worth $4,520,000 after acquiring an additional 974 shares in the last quarter. Van ECK Associates Corp bought a new stake in Brookfield in the fourth quarter worth $341,000. Blue Zone Wealth Advisors LLC raised its stake in Brookfield by 0.9% during the fourth quarter. Blue Zone Wealth Advisors LLC now owns 145,497 shares of the company’s stock valued at $8,359,000 after purchasing an additional 1,293 shares in the last quarter. Baillie Gifford & Co. lifted its position in Brookfield by 809.5% during the fourth quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock valued at $211,159,000 after purchasing an additional 3,271,403 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its position in Brookfield by 8.8% during the fourth quarter. Sanctuary Advisors LLC now owns 43,674 shares of the company’s stock valued at $2,715,000 after purchasing an additional 3,514 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

BN has been the topic of several recent research reports. TD Securities decreased their target price on shares of Brookfield from $77.00 to $74.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a research note on Sunday, June 8th. JPMorgan Chase & Co. cut their target price on Brookfield from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. CIBC lowered their price target on Brookfield from $74.00 to $72.00 and set an “outperformer” rating for the company in a research report on Friday, May 9th. Finally, Scotiabank dropped their price objective on shares of Brookfield from $71.00 to $68.00 and set a “sector outperform” rating for the company in a research note on Monday, April 7th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.00.

Brookfield Stock Down 2.5%

NYSE:BN opened at $57.75 on Monday. The company has a market cap of $95.18 billion, a price-to-earnings ratio of 192.52 and a beta of 1.66. Brookfield Co. has a twelve month low of $40.04 and a twelve month high of $62.78. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. The stock has a fifty day simple moving average of $55.05 and a 200-day simple moving average of $56.17.

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

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.09 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.62%. Brookfield’s payout ratio is 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.