King Luther Capital Management Corp Sells 821 Shares of Brookfield Co. (NYSE:BN)

King Luther Capital Management Corp reduced its holdings in shares of Brookfield Co. (NYSE:BN) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,996 shares of the company’s stock after selling 821 shares during the quarter. King Luther Capital Management Corp’s holdings in Brookfield were worth $4,293,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BN. Sunbelt Securities Inc. boosted its stake in Brookfield by 4,670.6% in the third quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock valued at $25,000 after acquiring an additional 794 shares during the last quarter. Allworth Financial LP lifted its stake in shares of Brookfield by 256.2% during the 4th quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after buying an additional 638 shares in the last quarter. Oakworth Capital Inc. boosted its holdings in shares of Brookfield by 172.3% in the fourth quarter. Oakworth Capital Inc. now owns 1,073 shares of the company’s stock worth $43,000 after acquiring an additional 679 shares during the period. First Command Advisory Services Inc. purchased a new position in Brookfield during the 3rd quarter valued at about $37,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Brookfield by 47.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,548 shares of the company’s stock worth $48,000 after purchasing an additional 501 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 traded up $0.06 during trading hours on Thursday, reaching $44.41. 258,681 shares of the stock traded hands, compared to its average volume of 2,784,890. The company has a market cap of $72.93 billion, a P/E ratio of 72.71 and a beta of 1.48. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35. The company’s 50-day moving average price is $41.59 and its two-hundred day moving average price is $39.53. Brookfield Co. has a 52-week low of $28.84 and a 52-week high of $45.11.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, May 9th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.13. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. The firm had revenue of $22.91 billion during the quarter. During the same quarter last year, the firm posted $0.72 EPS. On average, analysts anticipate that Brookfield Co. will post 3.35 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.72%. Brookfield’s payout ratio is 52.46%.

Insider Activity at Brookfield

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

Analyst Upgrades and Downgrades

BN has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Royal Bank of Canada cut their price objective on Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Scotiabank dropped their price objective on shares of Brookfield from $50.00 to $49.50 and set a “sector outperform” rating on the stock in a research note on Friday, May 10th. BMO Capital Markets upped their price objective on Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $46.00 target price (up previously from $45.00) on shares of Brookfield in a report on Friday, May 10th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.10.

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.