Kestra Private Wealth Services LLC Buys 21,064 Shares of Brookfield Co. (NYSE:BN)

Kestra Private Wealth Services LLC increased its stake in shares of Brookfield Co. (NYSE:BN) by 42.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 70,856 shares of the company’s stock after purchasing an additional 21,064 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Brookfield were worth $2,843,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Eldred Rock Partners LLC purchased a new position in shares of Brookfield during the fourth quarter valued at approximately $9,868,000. JPMorgan Chase & Co. increased its stake in Brookfield by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 5,841,070 shares of the company’s stock worth $182,650,000 after purchasing an additional 273,474 shares during the period. Northside Capital Management LLC bought a new stake in shares of Brookfield during the fourth quarter worth $229,000. Lazard Asset Management LLC bought a new position in shares of Brookfield in the third quarter worth about $23,667,000. Finally, Pathstone Family Office LLC bought a new stake in Brookfield during the 3rd quarter valued at about $2,442,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

Shares of BN opened at $40.98 on Thursday. The company has a 50 day moving average of $40.81 and a two-hundred day moving average of $38.14. The company has a market cap of $67.29 billion, a price-to-earnings ratio of 66.10 and a beta of 1.49. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 1.35. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $43.17.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 8th. The company reported $0.83 earnings per share (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 company had revenue of $24.52 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the prior year, the company posted $1.12 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, analysts predict that Brookfield Co. will post 3.75 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.08 per share. This is an increase from Brookfield’s previous quarterly dividend of $0.07. This represents a $0.32 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Tuesday, March 12th. Brookfield’s payout ratio is presently 51.61%.

Insider Activity at Brookfield

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BN shares. Scotiabank raised their target price on shares of Brookfield from $49.00 to $50.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 9th. BMO Capital Markets lifted their target price on Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Canaccord Genuity Group increased their price target on Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a research report on Friday, February 9th. CIBC upped their price objective on shares of Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Finally, TD Securities raised their target price on shares of Brookfield from $61.00 to $62.00 and gave the company an “action list buy” rating in a research report on Sunday, February 11th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.25.

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.