Norden Group LLC Lowers Stock Holdings in Brookfield Co. (NYSE:BN)

Norden Group LLC reduced its position in Brookfield Co. (NYSE:BN) by 17.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,525 shares of the company’s stock after selling 1,139 shares during the quarter. Norden Group LLC’s holdings in Brookfield were worth $222,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of BN. FinTrust Capital Advisors LLC purchased a new stake in shares of Brookfield during the third quarter worth $25,000. Sunbelt Securities Inc. increased its holdings in Brookfield by 4,670.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock worth $25,000 after purchasing an additional 794 shares during the period. Castleview Partners LLC acquired a new stake in Brookfield in the 3rd quarter valued at about $34,000. Allworth Financial LP grew its position in shares of Brookfield by 256.2% during the fourth quarter. Allworth Financial LP now owns 887 shares of the company’s stock worth $36,000 after buying an additional 638 shares in the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in shares of Brookfield during the third quarter worth approximately $37,000. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Stock Up 2.1 %

BN stock opened at $40.98 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.15 and a quick ratio of 0.99. The company has a market cap of $67.29 billion, a price-to-earnings ratio of 66.10 and a beta of 1.49. Brookfield Co. has a 12 month low of $28.84 and a 12 month high of $43.17. The company has a fifty day moving average price of $40.81 and a 200 day moving average price of $38.14.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.69 by $0.14. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The firm had revenue of $24.52 billion during the quarter, compared to the consensus estimate of $1.15 billion. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.12 EPS. Sell-side analysts expect that Brookfield Co. will post 3.75 earnings per share for the current year.

Brookfield Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were paid a $0.08 dividend. This is a boost from Brookfield’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a yield of 0.78%. The ex-dividend date was Tuesday, March 12th. Brookfield’s payout ratio is currently 51.61%.

Wall Street Analyst Weigh In

Several research firms have commented on BN. Canaccord Genuity Group boosted their price target on shares of Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a report on Friday, February 9th. Scotiabank lifted their price target on Brookfield from $49.00 to $50.00 and gave the stock a “sector outperform” rating in a report on Friday, February 9th. TheStreet upgraded Brookfield from a “c” rating to a “b” rating in a report on Thursday, February 8th. Royal Bank of Canada decreased their target price on Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research note on Monday. Finally, BMO Capital Markets boosted their price objective on shares of Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.25.

Insider Transactions at Brookfield

In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the completion of the transaction, the director now owns 15,492,168 shares of the company’s stock, valued at approximately $175,526,263.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

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.