Novo Holdings A S Cuts Stock Holdings in Brookfield Co. (NYSE:BN)

Novo Holdings A S cut its holdings in Brookfield Co. (NYSE:BN) by 10.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,491,230 shares of the company’s stock after selling 389,000 shares during the quarter. Brookfield accounts for about 9.2% of Novo Holdings A S’s portfolio, making the stock its 3rd biggest position. Novo Holdings A S’s holdings in Brookfield were worth $185,559,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Nicholas Hoffman & Company LLC. lifted its stake in Brookfield by 3.9% during the second quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock valued at $282,000 after buying an additional 257 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares during the period. Mckinley Capital Management LLC increased its holdings in shares of Brookfield by 0.9% in the 1st quarter. Mckinley Capital Management LLC now owns 32,649 shares of the company’s stock valued at $1,367,000 after purchasing an additional 283 shares during the period. Rosenberg Matthew Hamilton increased its holdings in shares of Brookfield by 20.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock valued at $71,000 after purchasing an additional 296 shares during the period. Finally, Pembroke Management LTD increased its holdings in shares of Brookfield by 4.4% in the 1st quarter. Pembroke Management LTD now owns 7,339 shares of the company’s stock valued at $307,000 after purchasing an additional 310 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Trading Down 1.4 %

Shares of BN stock opened at $53.50 on Friday. Brookfield Co. has a 12 month low of $28.84 and a 12 month high of $56.83. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The business’s 50 day moving average is $51.19 and its two-hundred day moving average is $46.00. The company has a market cap of $87.94 billion, a PE ratio of 87.70 and a beta of 1.54.

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

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.60%. Brookfield’s dividend payout ratio (DPR) is presently 52.46%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BN. TD Securities upped their target price on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada dropped 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. BMO Capital Markets upped their target price on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. Keefe, Bruyette & Woods increased their price objective on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Finally, Scotiabank increased their price objective on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $51.59.

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.