Brookfield Co. (NYSE:BN) Shares Acquired by Blue Zone Wealth Advisors LLC

Blue Zone Wealth Advisors LLC raised its holdings in Brookfield Co. (NYSE:BN) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 158,486 shares of the company’s stock after purchasing an additional 12,989 shares during the quarter. Brookfield makes up about 2.3% of Blue Zone Wealth Advisors LLC’s investment portfolio, making the stock its 8th largest position. Blue Zone Wealth Advisors LLC’s holdings in Brookfield were worth $8,306,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in BN. Norges Bank acquired a new position in Brookfield during the 4th quarter worth $973,591,000. Baillie Gifford & Co. boosted its holdings in Brookfield by 809.5% during the fourth quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock worth $211,159,000 after buying an additional 3,271,403 shares during the last quarter. Regents of The University of California acquired a new position in Brookfield during the fourth quarter valued at approximately $154,140,000. Geode Capital Management LLC grew its holdings in shares of Brookfield by 32.0% in the 4th quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company’s stock valued at $460,489,000 after buying an additional 1,930,218 shares during the period. Finally, Capital World Investors grew its stake in Brookfield by 3.1% in the fourth quarter. Capital World Investors now owns 59,020,303 shares of the company’s stock valued at $3,390,786,000 after acquiring an additional 1,782,034 shares during the period. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

BN stock opened at $58.88 on Friday. The company’s 50-day moving average price is $54.00 and its two-hundred day moving average price is $56.22. The firm has a market cap of $97.01 billion, a P/E ratio of 196.27 and a beta of 1.66. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. Brookfield Co. has a 12 month low of $39.97 and a 12 month high of $62.78.

Brookfield (NYSE:BN) last released its earnings results on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. On average, analysts anticipate that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.09 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.61%. Brookfield’s payout ratio is presently 128.57%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. TD Securities reduced their price target on shares of Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a report on Monday, May 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of Brookfield in a research report on Monday, May 19th. Scotiabank lowered their price target on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 7th. CIBC dropped their price objective on shares of Brookfield from $74.00 to $72.00 and set an “outperformer” rating on the stock in a research report on Friday, May 9th. Finally, Wall Street Zen downgraded Brookfield from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Brookfield Company 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.