Clearbridge Investments LLC Sells 437,263 Shares of Brookfield Co. (NYSE:BN)

Clearbridge Investments LLC reduced its position in Brookfield Co. (NYSE:BN) by 19.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,784,907 shares of the company’s stock after selling 437,263 shares during the quarter. Clearbridge Investments LLC owned approximately 0.11% of Brookfield worth $74,862,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of BN. Hillsdale Investment Management Inc. boosted its stake in Brookfield by 665.1% during the first quarter. Hillsdale Investment Management Inc. now owns 289,085 shares of the company’s stock worth $12,101,000 after acquiring an additional 251,300 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Brookfield by 352.5% during the first quarter. Acadian Asset Management LLC now owns 196,670 shares of the company’s stock worth $8,232,000 after acquiring an additional 153,205 shares in the last quarter. Bristol Gate Capital Partners Inc. boosted its stake in Brookfield by 43.7% during the first quarter. Bristol Gate Capital Partners Inc. now owns 23,385 shares of the company’s stock worth $978,000 after acquiring an additional 7,107 shares in the last quarter. Vanguard Group Inc. boosted its stake in Brookfield by 1.9% during the first 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 in the last quarter. Finally, Intech Investment Management LLC bought a new position in Brookfield during the first quarter worth $2,705,000. 61.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $11.90, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.00% of the stock is currently owned by corporate insiders.

Brookfield Stock Down 2.6 %

Shares of BN stock traded down $1.20 on Wednesday, hitting $45.85. The stock had a trading volume of 2,834,598 shares, compared to its average volume of 3,069,162. The business has a 50 day moving average of $43.28 and a 200 day moving average of $41.64. The stock has a market cap of $75.38 billion, a price-to-earnings ratio of 77.13 and a beta of 1.52. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.17 and a quick ratio of 1.02. Brookfield Co. has a 12-month low of $28.84 and a 12-month high of $47.57.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, May 9th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.64 by $0.13. The company had revenue of $22.91 billion during the quarter. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. During the same quarter in the prior year, the company earned $0.72 EPS. As a group, analysts expect that Brookfield Co. will post 3.35 EPS for the current year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were issued a $0.08 dividend. The ex-dividend date was Thursday, June 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.70%. Brookfield’s dividend payout ratio is currently 52.46%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Scotiabank cut their target price 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. Royal Bank of Canada dropped their price objective on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Brookfield from $46.00 to $44.00 and set a “market perform” rating on the stock in a research note on Friday, July 12th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield presently has a consensus rating of “Moderate Buy” and an average price target of $47.90.

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.