Dimensional Fund Advisors LP Sells 233,265 Shares of Brookfield Co. (NYSE:BN)

Dimensional Fund Advisors LP reduced its holdings in Brookfield Co. (NYSE:BN) by 10.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,988,491 shares of the company’s stock after selling 233,265 shares during the quarter. Dimensional Fund Advisors LP owned about 0.12% of Brookfield worth $82,602,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Fortis Group Advisors LLC grew its position in shares of Brookfield by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 674 shares of the company’s stock worth $27,000 after buying an additional 337 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares in the last quarter. Kings Path Partners LLC bought a new stake in shares of Brookfield during the second quarter valued at approximately $31,000. Family Firm Inc. bought a new stake in shares of Brookfield during the second quarter valued at approximately $36,000. Finally, Salem Investment Counselors Inc. bought a new stake in shares of Brookfield during the first quarter valued at approximately $42,000. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BN has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada dropped their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. TD Securities lifted their price target on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. BMO Capital Markets lifted their price target on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Finally, Scotiabank boosted their target price on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and a consensus price target of $51.59.

Brookfield Stock Down 1.0 %

BN stock opened at $52.25 on Thursday. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $53.20. The business has a fifty day moving average price of $47.81 and a 200-day moving average price of $44.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03. The stock has a market capitalization of $85.96 billion, a P/E ratio of 85.66 and a beta of 1.53.

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

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Thursday, September 12th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Thursday, September 12th. Brookfield’s dividend payout ratio is currently 52.46%.

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.