Koa Wealth Management LLC Sells 6,198 Shares of Brookfield Co. (NYSE:BN)

Koa Wealth Management LLC trimmed its holdings in shares of Brookfield Co. (NYSE:BN) by 18.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,450 shares of the company’s stock after selling 6,198 shares during the quarter. Brookfield makes up about 1.3% of Koa Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. Koa Wealth Management LLC’s holdings in Brookfield were worth $1,577,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC lifted its position in shares of Brookfield by 221.6% during the 2nd quarter. Millennium Management LLC now owns 345,545 shares of the company’s stock valued at $14,363,000 after buying an additional 238,104 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Brookfield by 4.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 164,176 shares of the company’s stock valued at $6,820,000 after purchasing an additional 7,318 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Brookfield by 4.5% in the second quarter. B. Riley Wealth Advisors Inc. now owns 20,902 shares of the company’s stock worth $869,000 after purchasing an additional 893 shares during the period. Cetera Investment Advisers increased its stake in shares of Brookfield by 16.1% in the second quarter. Cetera Investment Advisers now owns 316,644 shares of the company’s stock worth $13,168,000 after purchasing an additional 43,837 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Brookfield during the 2nd quarter valued at $1,956,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Performance

NYSE:BN opened at $62.08 on Friday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. The company has a market cap of $102.17 billion, a price-to-earnings ratio of 132.09 and a beta of 1.56. Brookfield Co. has a 1 year low of $38.18 and a 1 year high of $62.44. The stock’s 50 day simple moving average is $58.62 and its two-hundred day simple moving average is $53.53.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, December 16th. Brookfield’s payout ratio is 68.09%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. CIBC upped 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. Morgan Stanley began coverage on Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 target price on the stock. Finally, Scotiabank upped their price target on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.06.

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.