Bessemer Securities LLC Trims Stock Position in Brookfield Co. (NYSE:BN)

Bessemer Securities LLC lessened its position in shares of Brookfield Co. (NYSE:BN) by 41.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,375 shares of the company’s stock after selling 6,700 shares during the period. Bessemer Securities LLC’s holdings in Brookfield were worth $315,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BN. Money Concepts Capital Corp acquired a new stake in Brookfield during the fourth quarter valued at $34,000. Venturi Wealth Management LLC acquired a new stake in Brookfield during the first quarter valued at $41,000. Milestone Investment Advisors LLC acquired a new stake in Brookfield during the first quarter valued at $52,000. WASHINGTON TRUST Co acquired a new stake in Brookfield during the first quarter valued at $61,000. Finally, SouthState Corp acquired a new stake in Brookfield during the first quarter valued at $65,000. Institutional investors and hedge funds own 58.22% of the company’s stock.

Brookfield Trading Up 2.2 %

BN opened at $34.60 on Tuesday. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.22 and a quick ratio of 1.04. The company’s 50 day simple moving average is $32.28 and its two-hundred day simple moving average is $32.64. Brookfield Co. has a 1-year low of $28.25 and a 1-year high of $47.53. The firm has a market capitalization of $56.71 billion, a price-to-earnings ratio of -1,153.33 and a beta of 1.45.

Brookfield (NYSE:BN) last released its earnings results on Thursday, November 9th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Brookfield had a net margin of 0.12% and a return on equity of 2.23%. The business had revenue of $24.44 billion for the quarter, compared to analyst estimates of $1.07 billion.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, November 30th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date is Wednesday, November 29th. Brookfield’s dividend payout ratio (DPR) is -933.33%.

Analysts Set New Price Targets

Several analysts recently commented on BN shares. Scotiabank dropped their price target on shares of Brookfield from $47.50 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, November 10th. Keefe, Bruyette & Woods lifted their target price on shares of Brookfield from $36.00 to $37.00 and gave the company a “market perform” rating in a research report on Friday, November 10th. CSFB dropped their target price on shares of Brookfield from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, August 31st. Credit Suisse Group dropped their target price on shares of Brookfield from $42.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, August 31st. Finally, TD Securities lifted their target price on shares of Brookfield from $54.00 to $55.00 and gave the company an “action list buy” rating in a research report on Sunday, November 12th. Two investment 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.78.

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.