Intech Investment Management LLC Invests $2.71 Million in Brookfield Co. (NYSE:BN)

Intech Investment Management LLC acquired a new position in shares of Brookfield Co. (NYSE:BN) in the 1st quarter, HoldingsChannel reports. The fund acquired 64,591 shares of the company’s stock, valued at approximately $2,705,000.

Other large investors also recently modified their holdings of the company. Connectus Wealth LLC grew its position in shares of Brookfield by 1,049.1% during the 4th quarter. Connectus Wealth LLC now owns 610,911 shares of the company’s stock worth $25,000 after buying an additional 557,749 shares during the period. Fortis Group Advisors LLC grew its position in Brookfield by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock valued at $27,000 after purchasing an additional 337 shares during the period. Allworth Financial LP grew its position in Brookfield by 256.2% in the 4th quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after purchasing an additional 638 shares during the period. Salem Investment Counselors Inc. acquired a new stake in Brookfield in the 1st quarter valued at $42,000. Finally, Oakworth Capital Inc. grew its position in Brookfield by 172.3% in the 4th quarter. Oakworth Capital Inc. now owns 1,073 shares of the company’s stock valued at $43,000 after purchasing an additional 679 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Down 0.3 %

BN traded down $0.13 during mid-day trading on Friday, reaching $46.06. 1,026,301 shares of the stock were exchanged, compared to its average volume of 4,516,206. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.02 and a current ratio of 1.17. The stock has a market capitalization of $75.71 billion, a PE ratio of 75.51 and a beta of 1.52. The company has a 50 day moving average price of $43.17 and a two-hundred day moving average price of $41.49. Brookfield Co. has a 1 year low of $28.84 and a 1 year high of $47.43.

Brookfield (NYSE:BN) last released 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. The company had revenue of $22.91 billion for the quarter. Brookfield had a return on equity of 3.15% and a net margin of 1.16%. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, research analysts anticipate that Brookfield Co. will post 3.35 EPS for the current year.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Thursday, June 13th. Brookfield’s payout ratio is 52.46%.

Analyst Upgrades and Downgrades

BN has been the subject of several research reports. Keefe, Bruyette & Woods reduced their price target on shares of Brookfield from $46.00 to $44.00 and set a “market perform” rating for the company in a research report on Friday, July 12th. Scotiabank reduced their price target on shares of Brookfield from $50.00 to $49.50 and set a “sector outperform” rating for the company in a research report on Friday, May 10th. Finally, Royal Bank of Canada reduced their price target on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Two 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.90.

Insider Transactions at Brookfield

In other news, Director Ocm Growth Holdings Llc sold 400,000 shares of Brookfield stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the sale, the director now directly owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’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 SEC, which is available through this link. Also, Director Ocm Growth Holdings Llc sold 400,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the completion of the sale, the director now owns 10,779,668 shares in the company, valued at $128,278,049.20. The disclosure for this sale can be found here. Company insiders own 11.00% of the company’s stock.

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.