Brookfield Co. (NYSE:BN) Shares Acquired by Baskin Financial Services Inc.

by · The Cerbat Gem

Baskin Financial Services Inc. grew its position in Brookfield Co. (NYSE:BN – Free Report) by 0.6% in the third quarter, HoldingsChannel reports. The fund owned 938,058 shares of the company’s stock after acquiring an additional 6,051 shares during the quarter. Brookfield accounts for about 4.1% of Baskin Financial Services Inc.’s portfolio, making the stock its 9th largest position. Baskin Financial Services Inc.’s holdings in Brookfield were worth $49,788,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. American National Bank & Trust Co. VA acquired a new position in shares of Brookfield during the 1st quarter worth about $5,716,000. M&G Plc acquired a new stake in Brookfield in the 1st quarter valued at about $111,222,000. Cetera Investment Advisers raised its holdings in Brookfield by 1,022.6% in the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock valued at $11,427,000 after acquiring an additional 248,506 shares during the last quarter. Perpetual Ltd acquired a new stake in Brookfield in the 1st quarter valued at about $1,388,000. Finally, Forsta AP Fonden raised its holdings in Brookfield by 12.8% in the 1st quarter. Forsta AP Fonden now owns 259,800 shares of the company’s stock valued at $10,882,000 after acquiring an additional 29,500 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Trading Up 1.2 %

NYSE:BN traded up $0.64 on Wednesday, reaching $54.12. 380,610 shares of the company’s stock were exchanged, compared to its average volume of 2,912,735. The firm has a market capitalization of $88.95 billion, a price-to-earnings ratio of 88.93 and a beta of 1.54. Brookfield Co. has a 52-week low of $28.84 and a 52-week high of $54.43. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The business has a fifty day moving average of $49.66 and a 200-day moving average of $45.25.

Brookfield (NYSE:BN – Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. The company had revenue of $23.05 billion for the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. As a group, analysts expect that Brookfield Co. will post 3.84 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were paid a dividend of $0.08 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.32 annualized dividend and a yield of 0.59%. Brookfield’s payout ratio is 52.46%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. TD Securities increased their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Keefe, Bruyette & Woods increased their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. BMO Capital Markets increased their price target on shares of Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. JPMorgan Chase & Co. increased their price target on shares of Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Scotiabank increased their price target on shares of Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and an average price target of $51.59.

Read Our Latest Report on Brookfield

Brookfield Profile

(Free Report)

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.

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