Waterfront Wealth Inc. Sells 757 Shares of Brookfield Co. (NYSE:BN)

Waterfront Wealth Inc. reduced its holdings in shares of Brookfield Co. (NYSE:BN) by 1.0% during the fourth quarter, Holdings Channel reports. The fund owned 74,997 shares of the company’s stock after selling 757 shares during the period. Brookfield comprises about 1.0% of Waterfront Wealth Inc.’s investment portfolio, making the stock its 21st biggest position. Waterfront Wealth Inc.’s holdings in Brookfield were worth $4,309,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Blue Trust Inc. grew its holdings in shares of Brookfield by 178.4% in the third quarter. Blue Trust Inc. now owns 1,963 shares of the company’s stock worth $104,000 after purchasing an additional 1,258 shares during the last quarter. Signaturefd LLC grew its holdings in shares of Brookfield by 116.3% in the third quarter. Signaturefd LLC now owns 5,558 shares of the company’s stock worth $295,000 after purchasing an additional 2,988 shares during the last quarter. Greenleaf Trust bought a new position in shares of Brookfield in the third quarter worth approximately $331,000. International Assets Investment Management LLC bought a new position in shares of Brookfield in the third quarter worth approximately $23,840,000. Finally, Grimes & Company Inc. purchased a new stake in Brookfield in the third quarter worth $409,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

BN opened at $60.00 on Friday. Brookfield Co. has a 1 year low of $38.18 and a 1 year high of $62.78. The stock has a 50-day moving average price of $58.54 and a 200-day moving average price of $54.89. The firm has a market cap of $98.76 billion, a PE ratio of 199.99 and a beta of 1.57. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. Sell-side analysts predict that Brookfield Co. will post 3.9 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.60%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s dividend payout ratio is currently 106.67%.

Wall Street Analyst Weigh In

A number of analysts recently commented on BN shares. CIBC raised their price target on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. BMO Capital Markets reissued an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. TD Securities raised their price objective on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley began coverage on Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective for the company. Finally, Scotiabank raised their price objective on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

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.