Moors & Cabot Inc. Reduces Stock Holdings in Brookfield Co. (NYSE:BN)

Moors & Cabot Inc. cut its holdings in Brookfield Co. (NYSE:BN) by 4.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,011 shares of the company’s stock after selling 565 shares during the quarter. Moors & Cabot Inc.’s holdings in Brookfield were worth $747,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Haverford Trust Co purchased a new position in shares of Brookfield in the third quarter worth $219,000. Oppenheimer Asset Management Inc. raised its stake in Brookfield by 1.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 100,126 shares of the company’s stock worth $5,322,000 after acquiring an additional 1,442 shares during the last quarter. Kovack Advisors Inc. acquired a new stake in Brookfield during the 3rd quarter worth about $220,000. Plato Investment Management Ltd purchased a new stake in Brookfield during the 3rd quarter valued at about $435,000. Finally, Huntington National Bank increased its holdings in shares of Brookfield by 8.8% in the third quarter. Huntington National Bank now owns 5,445 shares of the company’s stock valued at $289,000 after purchasing an additional 439 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of NYSE BN opened at $50.42 on Friday. Brookfield Co. has a 1 year low of $38.18 and a 1 year high of $62.78. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The company’s fifty day moving average price is $57.49 and its 200 day moving average price is $55.80. The company has a market capitalization of $82.99 billion, a PE ratio of 168.06 and a beta of 1.65.

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

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid 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 0.71%. Brookfield’s dividend payout ratio is currently 120.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BN shares. TD Securities lifted their target price on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Morgan Stanley initiated coverage on shares of Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective for the company. CIBC increased their price objective on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. Scotiabank raised their target price on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price target (up 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

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.