Brookfield Co. (NYSE:BN) Shares Bought by Ritholtz Wealth Management

by · The Markets Daily

Ritholtz Wealth Management raised its holdings in Brookfield Co. (NYSE:BN – Free Report) by 85.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,848 shares of the company’s stock after purchasing an additional 17,439 shares during the period. Ritholtz Wealth Management’s holdings in Brookfield were worth $2,012,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BN. Fortis Group Advisors LLC boosted its stake in shares of Brookfield by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after acquiring an additional 337 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after acquiring an additional 272 shares during the last quarter. Kings Path Partners LLC acquired a new stake in shares of Brookfield in the second quarter worth approximately $31,000. Family Firm Inc. acquired a new stake in shares of Brookfield in the second quarter worth approximately $36,000. Finally, Salem Investment Counselors Inc. acquired a new stake in shares of Brookfield in the first quarter worth approximately $42,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Price Performance

NYSE:BN opened at $53.56 on Monday. 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 company has a market capitalization of $88.11 billion, a P/E ratio of 92.35 and a beta of 1.54. The stock’s fifty day moving average is $49.28 and its two-hundred day moving average is $45.08.

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

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.60%. Brookfield’s dividend payout ratio is presently 55.17%.

Wall Street Analysts Forecast Growth

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

View Our Latest Report on Brookfield

Brookfield Company 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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