Mitsubishi UFJ Trust & Banking Corp Purchases 184,720 Shares of Brookfield Co. (NYSE:BN)

Mitsubishi UFJ Trust & Banking Corp boosted its position in Brookfield Co. (NYSE:BN) by 45.6% during the first quarter, HoldingsChannel.com reports. The fund owned 589,874 shares of the company’s stock after buying an additional 184,720 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Brookfield were worth $24,695,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BN. Vanguard Group Inc. lifted its holdings in shares of Brookfield by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 56,417,198 shares of the company’s stock worth $2,263,458,000 after acquiring an additional 987,520 shares during the last quarter. Capital World Investors increased its position in Brookfield by 102.2% during the 4th quarter. Capital World Investors now owns 49,424,522 shares of the company’s stock worth $1,982,903,000 after purchasing an additional 24,975,364 shares in the last quarter. TD Asset Management Inc lifted its stake in Brookfield by 16.2% in the 4th quarter. TD Asset Management Inc now owns 26,542,983 shares of the company’s stock valued at $1,069,892,000 after purchasing an additional 3,702,266 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Brookfield by 7.3% in the 4th quarter. CIBC Asset Management Inc now owns 16,187,795 shares of the company’s stock valued at $651,399,000 after purchasing an additional 1,098,854 shares during the last quarter. Finally, Norges Bank acquired a new stake in Brookfield in the fourth quarter valued at approximately $614,104,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price target on shares of Brookfield from $53.00 to $51.00 and set an “outperform” rating for the company in a report on Monday, April 29th. Scotiabank dropped their target price on Brookfield from $50.00 to $49.50 and set a “sector outperform” rating for the company in a research report on Friday, May 10th. Finally, Keefe, Bruyette & Woods cut their price target on Brookfield from $46.00 to $44.00 and set a “market perform” rating on the stock in a research note on Friday, July 12th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and an average price target of $47.90.

Insider Transactions at Brookfield

In related news, Director Ocm Growth Holdings Llc sold 400,000 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $11.90, for a total value of $4,760,000.00. Following the transaction, the director now owns 10,779,668 shares in the company, valued at $128,278,049.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction that occurred 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 corporate insiders.

Brookfield Trading Down 0.3 %

BN traded down $0.13 during midday trading on Friday, hitting $46.06. 1,026,301 shares of the company were exchanged, compared to its average volume of 4,516,206. The firm’s 50 day moving average price is $43.17 and its 200-day moving average price is $41.49. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $47.43. The firm has a market capitalization of $75.71 billion, a P/E ratio of 75.51 and a beta of 1.52. The company has a quick ratio of 1.02, a current ratio of 1.17 and a debt-to-equity ratio of 1.35.

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

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Thursday, June 13th. Brookfield’s dividend payout ratio is currently 52.46%.

About Brookfield

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.