QV Investors Inc. Has $20.26 Million Position in Brookfield Co. (NYSE:BN)

by · The Markets Daily

QV Investors Inc. cut its position in Brookfield Co. (NYSE:BN – Free Report) by 30.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 380,991 shares of the company’s stock after selling 166,946 shares during the period. Brookfield comprises about 1.8% of QV Investors Inc.’s portfolio, making the stock its 21st largest position. QV Investors Inc.’s holdings in Brookfield were worth $20,257,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Brookfield in the 2nd quarter valued at approximately $128,321,000. M&G Plc bought a new stake in shares of Brookfield in the first quarter worth $111,222,000. Capital World Investors boosted its holdings in Brookfield by 5.1% during the first quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after purchasing an additional 2,497,509 shares during the last quarter. Wulff Hansen & CO. grew its position in Brookfield by 4,054.0% in the second quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock valued at $64,076,000 after purchasing an additional 1,505,372 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Brookfield by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after buying an additional 1,063,110 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Down 0.7 %

Shares of NYSE:BN opened at $53.47 on Wednesday. Brookfield Co. has a 12-month low of $28.84 and a 12-month 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 firm has a market cap of $87.89 billion, a P/E ratio of 87.66 and a beta of 1.54. The business has a fifty day simple moving average of $49.66 and a 200 day simple moving average of $45.25.

Brookfield (NYSE:BN – Get Free Report) last issued its quarterly 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 net margin of 1.13% and a return on equity of 3.67%. The business had revenue of $23.05 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. Analysts predict that Brookfield Co. will post 3.84 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Thursday, September 12th. Brookfield’s payout ratio is 52.46%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BN. Scotiabank upped 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. Keefe, Bruyette & Woods boosted their price target on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. BMO Capital Markets boosted their target price on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Finally, Royal Bank of Canada dropped their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report 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 MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.59.

Get Our Latest Analysis 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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