Cobblestone Capital Advisors LLC NY Trims Stock Position in Brookfield Co. (NYSE:BN)

Cobblestone Capital Advisors LLC NY cut its stake in shares of Brookfield Co. (NYSE:BN) by 15.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 404,014 shares of the company’s stock after selling 75,188 shares during the period. Brookfield makes up 1.3% of Cobblestone Capital Advisors LLC NY’s investment portfolio, making the stock its 22nd biggest holding. Cobblestone Capital Advisors LLC NY’s holdings in Brookfield were worth $23,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Compass Planning Associates Inc acquired a new position in Brookfield during the 4th quarter worth approximately $30,000. First Personal Financial Services acquired a new position in Brookfield during the 3rd quarter worth approximately $42,000. FSA Wealth Management LLC acquired a new position in Brookfield during the 3rd quarter worth approximately $42,000. Prestige Wealth Management Group LLC increased its position in Brookfield by 137.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock worth $46,000 after purchasing an additional 500 shares during the period. Finally, Continuum Advisory LLC acquired a new position in Brookfield during the 3rd quarter worth approximately $55,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BN has been the topic of several recent analyst reports. TD Securities boosted their target price on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. CIBC upped their price target on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a report on Thursday, January 23rd. Scotiabank upped their price target on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. Morgan Stanley assumed coverage on Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target on the stock. Finally, BMO Capital Markets restated an “outperform” rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Brookfield Stock Up 1.8 %

Shares of Brookfield stock opened at $57.88 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. The firm has a market cap of $95.28 billion, a P/E ratio of 192.94 and a beta of 1.57. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78. The business has a 50-day moving average price of $58.60 and a 200 day moving average price of $55.46.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. On average, sell-side analysts forecast that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.62%. Brookfield’s dividend payout ratio (DPR) is 120.00%.

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.