Banco BTG Pactual S.A. Sells 100,000 Shares of Brookfield Co. (NYSE:BN)

Banco BTG Pactual S.A. lessened its stake in shares of Brookfield Co. (NYSE:BN) by 44.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,275 shares of the company’s stock after selling 100,000 shares during the quarter. Brookfield comprises about 1.7% of Banco BTG Pactual S.A.’s investment portfolio, making the stock its 14th biggest holding. Banco BTG Pactual S.A.’s holdings in Brookfield were worth $7,152,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. boosted its position in Brookfield by 809.5% in the fourth quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock worth $211,159,000 after purchasing an additional 3,271,403 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield by 31.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after purchasing an additional 2,818,716 shares during the period. Regents of The University of California purchased a new position in shares of Brookfield in the fourth quarter worth approximately $154,140,000. Raymond James Financial Inc. bought a new stake in Brookfield during the fourth quarter valued at approximately $82,795,000. Finally, Toronto Dominion Bank increased its holdings in Brookfield by 23.4% during the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after buying an additional 1,301,072 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Price Performance

BN stock opened at $55.37 on Wednesday. The company has a 50-day moving average price of $57.08 and a 200 day moving average price of $56.15. The stock has a market cap of $91.18 billion, a PE ratio of 184.57 and a beta of 1.65. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. Brookfield Co. has a 12 month low of $38.18 and a 12 month high of $62.78.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. Equities research analysts anticipate that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Friday, March 14th. Brookfield’s payout ratio is 120.00%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BN. Morgan Stanley started coverage on shares of Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price target on the stock. TD Securities boosted their price target on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. CIBC raised their price objective on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. Finally, Scotiabank boosted their price objective on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

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.