Cooke & Bieler LP Increases Stake in Brookfield Co. (NYSE:BN)

Cooke & Bieler LP grew its position in shares of Brookfield Co. (NYSE:BN) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,698,773 shares of the company’s stock after purchasing an additional 269,813 shares during the quarter. Brookfield comprises approximately 2.3% of Cooke & Bieler LP’s investment portfolio, making the stock its 8th largest position. Cooke & Bieler LP owned approximately 0.35% of Brookfield worth $236,727,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BN. Connectus Wealth LLC lifted its stake in shares of Brookfield by 1,049.1% in the 4th quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock valued at $25,000 after purchasing an additional 557,749 shares during the period. Fortis Group Advisors LLC boosted its holdings in shares of Brookfield by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after buying an additional 337 shares in the last quarter. Blue Trust Inc. grew its position in shares of Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after buying an additional 272 shares during the period. Kings Path Partners LLC bought a new stake in shares of Brookfield in the 2nd quarter valued at $31,000. Finally, Family Firm Inc. acquired a new position in shares of Brookfield during the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of Brookfield stock traded up $0.25 during mid-day trading on Wednesday, hitting $48.17. 5,301,272 shares of the stock were exchanged, compared to its average volume of 3,100,502. Brookfield Co. has a 12 month low of $28.84 and a 12 month high of $50.46. The company has a 50-day simple moving average of $45.86 and a 200 day simple moving average of $43.16. The company has a market capitalization of $79.17 billion, a P/E ratio of 78.56 and a beta of 1.52. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.57. The firm had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.75 EPS. Sell-side analysts anticipate that Brookfield Co. will post 3.84 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Thursday, September 12th will be paid a $0.08 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.66%. Brookfield’s payout ratio is presently 52.46%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BN. Scotiabank boosted their target price on Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research report on Friday, August 9th. Royal Bank of Canada lowered their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. TD Securities increased their target price on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. boosted their price target on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.84.

Insider Activity

In other Brookfield news, Director Ocm Growth Holdings Llc sold 400,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the sale, the director now directly owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 11.00% of the company’s stock.

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.