Addenda Capital Inc. Lowers Stock Holdings in Brookfield Co. (NYSE:BN)

Addenda Capital Inc. lessened its stake in shares of Brookfield Co. (NYSE:BN) by 0.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,861,606 shares of the company’s stock after selling 7,586 shares during the quarter. Brookfield accounts for about 3.7% of Addenda Capital Inc.’s investment portfolio, making the stock its 5th largest position. Addenda Capital Inc. owned 0.11% of Brookfield worth $77,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of the stock. Blacksheep Fund Management Ltd acquired a new position in shares of Brookfield in the 4th quarter worth approximately $101,800,000. Eldred Rock Partners LLC acquired a new position in Brookfield in the fourth quarter worth $9,868,000. Choreo LLC bought a new stake in shares of Brookfield during the fourth quarter worth $754,000. Norges Bank acquired a new stake in shares of Brookfield in the fourth quarter valued at $614,104,000. Finally, Gold Investment Management Ltd. bought a new position in shares of Brookfield in the fourth quarter valued at about $4,473,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Trading Down 0.0 %

NYSE:BN traded down $0.02 during mid-day trading on Friday, hitting $41.54. The company had a trading volume of 1,549,328 shares, compared to its average volume of 3,184,924. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.02 and a current ratio of 1.17. The firm has a market cap of $68.28 billion, a P/E ratio of 68.10 and a beta of 1.51. The business’s fifty day moving average is $42.38 and its two-hundred day moving average is $40.92. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $45.11.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.13. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. The business had revenue of $22.91 billion for the quarter. During the same quarter in the prior year, the business earned $0.72 earnings per share. As a group, research analysts expect that Brookfield Co. will post 3.35 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Thursday, June 13th. Brookfield’s dividend payout ratio is currently 52.46%.

Analyst Ratings Changes

BN has been the topic of a number of research analyst reports. Scotiabank decreased their price objective on shares of Brookfield from $50.00 to $49.50 and set a “sector outperform” rating on the stock in a report on Friday, May 10th. Royal Bank of Canada dropped their price objective on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $46.00 price objective (up from $45.00) on shares of Brookfield in a research report on Friday, May 10th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.10.

Insider Buying and Selling

In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total value of $155,099.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total value of $155,099.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ocm Growth Holdings Llc sold 400,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $11.90, for a total transaction of $4,760,000.00. Following the sale, the director now directly owns 10,779,668 shares of the company’s stock, valued at approximately $128,278,049.20. The disclosure for this sale can be found here. 11.00% of the stock is currently owned by company insiders.

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.