Clearstead Trust LLC Reduces Position in Brookfield Co. (NYSE:BN)

Clearstead Trust LLC lessened its holdings in shares of Brookfield Co. (NYSE:BN) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,571 shares of the company’s stock after selling 312 shares during the quarter. Clearstead Trust LLC’s holdings in Brookfield were worth $730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Brookfield by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock worth $2,406,700,000 after acquiring an additional 1,063,110 shares during the last quarter. Capital World Investors boosted its stake 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 acquiring an additional 2,497,509 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Brookfield by 16.2% during the 4th quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock worth $1,069,892,000 after acquiring an additional 3,702,266 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of Brookfield by 1.3% during the 1st quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company’s stock valued at $946,495,000 after purchasing an additional 299,029 shares during the period. Finally, CIBC Asset Management Inc raised its position in shares of Brookfield by 7.3% during the 4th quarter. CIBC Asset Management Inc now owns 16,187,795 shares of the company’s stock valued at $651,399,000 after purchasing an additional 1,098,854 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of NYSE BN opened at $50.41 on Tuesday. Brookfield Co. has a 52-week low of $28.84 and a 52-week high of $50.46. The company has a market cap of $82.86 billion, a P/E ratio of 82.64 and a beta of 1.53. The firm’s fifty day moving average is $46.93 and its two-hundred day moving average is $43.62. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The business had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $1.24 billion. During the same period last year, the company posted $0.75 EPS. The business’s revenue was down 2.6% on a year-over-year basis. As a group, analysts anticipate that Brookfield Co. will post 3.84 EPS for the current fiscal year.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Thursday, September 12th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.63%. Brookfield’s dividend payout ratio is presently 52.46%.

Analyst Ratings Changes

BN has been the topic of several recent analyst reports. Royal Bank of Canada decreased their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Scotiabank raised their price objective on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research report on Friday, August 9th. Keefe, Bruyette & Woods raised their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets raised their price objective on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.59.

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.