Hendershot Investments Inc. Trims Stock Position in Brookfield Co. (NYSE:BN)

Hendershot Investments Inc. decreased its holdings in Brookfield Co. (NYSE:BN) by 4.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,565 shares of the company’s stock after selling 2,465 shares during the quarter. Hendershot Investments Inc.’s holdings in Brookfield were worth $2,017,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Connectus Wealth LLC increased 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 worth $25,000 after purchasing an additional 557,749 shares in the last quarter. Fortis Group Advisors LLC increased its position in Brookfield by 100.0% in the fourth 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. raised its stake in shares of Brookfield by 62.8% in the second 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 purchased a new position in shares of Brookfield during the 2nd quarter valued at about $31,000. Finally, Family Firm Inc. purchased a new stake in Brookfield in the 2nd quarter worth approximately $36,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Performance

Brookfield stock opened at $47.15 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. The firm has a market capitalization of $77.50 billion, a P/E ratio of 77.30 and a beta of 1.52. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $50.46. The company’s 50-day moving average is $46.10 and its 200 day moving average is $43.22.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Brookfield’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company earned $0.75 EPS. Research analysts forecast that Brookfield Co. will post 3.84 EPS for the current year.

Brookfield Announces Dividend

The business 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 of this dividend is Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a yield of 0.68%. Brookfield’s dividend payout ratio is currently 52.46%.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

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.