Tocqueville Asset Management L.P. Increases Holdings in Brookfield Co. (NYSE:BN)

Tocqueville Asset Management L.P. lifted its position in shares of Brookfield Co. (NYSE:BN) by 35.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,545 shares of the company’s stock after acquiring an additional 14,120 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Brookfield were worth $2,242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Motco acquired a new position in Brookfield in the 1st quarter valued at $98,000. Cumberland Partners Ltd acquired a new position in Brookfield in the 1st quarter valued at $235,000. Blair William & Co. IL raised its holdings in Brookfield by 0.7% in the 1st quarter. Blair William & Co. IL now owns 114,275 shares of the company’s stock valued at $4,785,000 after acquiring an additional 835 shares during the last quarter. Pembroke Management LTD raised its holdings in Brookfield by 4.4% in the 1st quarter. Pembroke Management LTD now owns 7,339 shares of the company’s stock valued at $307,000 after acquiring an additional 310 shares during the last quarter. Finally, Bleakley Financial Group LLC raised its holdings in Brookfield by 2.3% in the 1st quarter. Bleakley Financial Group LLC now owns 22,030 shares of the company’s stock valued at $922,000 after acquiring an additional 494 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Down 0.3 %

Shares of NYSE BN opened at $46.06 on Friday. Brookfield Co. has a 12-month low of $28.84 and a 12-month high of $47.43. The company has a market cap of $75.72 billion, a P/E ratio of 75.51 and a beta of 1.52. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 1.35. The stock has a fifty day moving average price of $43.17 and a 200 day moving average price of $41.49.

Brookfield (NYSE:BN) last posted its quarterly earnings data 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. The company had revenue of $22.91 billion during the quarter. Brookfield had a net margin of 1.16% and a return on equity of 3.15%. During the same period in the previous year, the company earned $0.72 earnings per share. Research analysts anticipate that Brookfield Co. will post 3.35 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.32 annualized dividend and a dividend yield of 0.69%. Brookfield’s payout ratio is 52.46%.

Insider Transactions at Brookfield

In other news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is available at this link. Also, Director Ocm Growth Holdings Llc sold 400,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 10,779,668 shares in the company, valued at approximately $128,278,049.20. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.

Wall Street Analyst Weigh In

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

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.