Tandem Capital Management Corp ADV Sells 2,647 Shares of Brookfield Co. (NYSE:BN)

Tandem Capital Management Corp ADV reduced its stake in Brookfield Co. (NYSE:BN) by 5.9% during the third quarter, Holdings Channel.com reports. The fund owned 42,386 shares of the company’s stock after selling 2,647 shares during the period. Tandem Capital Management Corp ADV’s holdings in Brookfield were worth $2,253,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. M&G Plc acquired a new position in shares of Brookfield in the 1st quarter worth approximately $111,222,000. Cetera Investment Advisers lifted its holdings in Brookfield by 1,022.6% in the first quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock valued at $11,427,000 after buying an additional 248,506 shares during the period. Forsta AP Fonden boosted its position in Brookfield by 12.8% during the first 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. Wealth Enhancement Advisory Services LLC boosted its position in Brookfield by 324.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock valued at $4,390,000 after acquiring an additional 80,762 shares during the last quarter. Finally, Norden Group LLC grew its holdings in Brookfield by 2,342.0% during the 1st quarter. Norden Group LLC now owns 134,920 shares of the company’s stock worth $5,649,000 after acquiring an additional 129,395 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

Shares of Brookfield stock opened at $54.04 on Thursday. The firm has a market capitalization of $88.97 billion, a PE ratio of 93.17 and a beta of 1.54. The company has a current ratio of 1.20, a quick ratio of 1.03 and a debt-to-equity ratio of 1.39. Brookfield Co. has a 12 month low of $28.84 and a 12 month high of $56.83. The business’s 50-day moving average price is $51.62 and its 200-day moving average price is $46.31.

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

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is 55.17%.

Analysts Set New Price Targets

Several equities research analysts recently commented on BN shares. Scotiabank upped their target price on Brookfield from $51.25 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada dropped their target price 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. TD Securities raised their price target on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, BMO Capital Markets increased their price objective on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. 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 has an average rating of “Moderate Buy” and a consensus target price of $53.31.

Brookfield 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.