First Trust Direct Indexing L.P. Buys New Shares in Brookfield Co. (NYSE:BN)

First Trust Direct Indexing L.P. bought a new position in shares of Brookfield Co. (NYSE:BN) in the fourth quarter, Holdings Channel reports. The fund bought 8,575 shares of the company’s stock, valued at approximately $344,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. boosted its stake in shares of Brookfield by 4,670.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 811 shares of the company’s stock worth $25,000 after acquiring an additional 794 shares in the last quarter. Allworth Financial LP boosted its position in shares of Brookfield by 256.2% in the 4th quarter. Allworth Financial LP now owns 887 shares of the company’s stock valued at $36,000 after purchasing an additional 638 shares during the period. Oakworth Capital Inc. increased its stake in Brookfield by 172.3% in the 4th quarter. Oakworth Capital Inc. now owns 1,073 shares of the company’s stock worth $43,000 after purchasing an additional 679 shares in the last quarter. Castleview Partners LLC purchased a new position in Brookfield in the 3rd quarter worth about $34,000. Finally, First Command Advisory Services Inc. acquired a new stake in Brookfield during the 3rd quarter worth about $37,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Insider Activity

In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of Brookfield stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the transaction, the director now owns 15,492,168 shares of the company’s stock, valued at $175,526,263.44. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The disclosure for this sale can be found here. 11.00% of the stock is owned by insiders.

Brookfield Stock Performance

Shares of NYSE BN opened at $43.68 on Tuesday. Brookfield Co. has a one year low of $28.84 and a one year high of $43.72. The business’s 50-day moving average price is $40.87 and its two-hundred day moving average price is $38.34. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.15 and a quick ratio of 0.99. The company has a market capitalization of $71.72 billion, a P/E ratio of 70.45 and a beta of 1.48.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.14. The firm had revenue of $24.52 billion for the quarter, compared to the consensus estimate of $1.15 billion. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.12 earnings per share. Analysts anticipate that Brookfield Co. will post 3.35 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were paid a dividend of $0.08 per share. This is a positive change from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.73%. Brookfield’s dividend payout ratio is 51.61%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. CIBC lifted their target price on shares of Brookfield from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Scotiabank boosted their target price on shares of Brookfield from $49.00 to $50.00 and gave the company a “sector outperform” rating in a research note on Friday, February 9th. TheStreet raised Brookfield from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Finally, Canaccord Genuity Group upped their price target on Brookfield from $41.00 to $42.50 and gave the company a “hold” rating in a research report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and an average price target of $47.25.

About Brookfield

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.