Lincluden Management Ltd. Cuts Holdings in Brookfield Co. (NYSE:BN)

Lincluden Management Ltd. cut its position in shares of Brookfield Co. (NYSE:BN) by 4.5% in the third quarter, Holdings Channel.com reports. The firm owned 873,139 shares of the company’s stock after selling 41,508 shares during the quarter. Brookfield comprises approximately 5.1% of Lincluden Management Ltd.’s investment portfolio, making the stock its 6th biggest position. Lincluden Management Ltd.’s holdings in Brookfield were worth $46,403,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BN. Vanguard Group Inc. raised its stake in shares of Brookfield by 1.9% during the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after acquiring an additional 1,063,110 shares in the last quarter. Capital World Investors grew its position in shares of Brookfield by 5.1% during the 1st quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after buying an additional 2,497,509 shares in the last quarter. 1832 Asset Management L.P. increased its stake in shares of Brookfield by 1.3% during the first quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock valued at $946,495,000 after buying an additional 299,029 shares during the period. Cooke & Bieler LP lifted its stake in Brookfield by 5.0% in the second quarter. Cooke & Bieler LP now owns 5,698,773 shares of the company’s stock worth $236,727,000 after acquiring an additional 269,813 shares during the period. Finally, Bessemer Group Inc. grew its holdings in Brookfield by 3.7% during the 1st quarter. Bessemer Group Inc. now owns 3,215,411 shares of the company’s stock worth $134,629,000 after acquiring an additional 113,241 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Price Performance

Shares of BN opened at $53.02 on Friday. The firm has a market capitalization of $87.29 billion, a PE ratio of 91.42 and a beta of 1.54. 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 company’s fifty day moving average price is $51.74 and its 200-day moving average price is $46.36. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $56.83.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.57. The firm had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 earnings per share. On average, equities research analysts predict that Brookfield Co. will post 3.81 EPS for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were given a $0.08 dividend. 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 is presently 55.17%.

Analyst Ratings Changes

BN has been the subject of several recent research reports. TD Securities boosted their price target on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods boosted their price objective on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. lifted their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Scotiabank upped their price objective on Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada dropped their price objective on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and an average price target of $53.31.

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.