Brookfield Co. (NYSE:BN) Short Interest Down 8.1% in July

Brookfield Co. (NYSE:BN) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 10,710,000 shares, a decline of 8.1% from the June 30th total of 11,650,000 shares. Based on an average daily trading volume, of 3,440,000 shares, the days-to-cover ratio is currently 3.1 days. Currently, 0.8% of the company’s shares are sold short.

Brookfield Stock Performance

BN traded down $1.15 during trading on Thursday, reaching $47.60. 2,898,208 shares of the company were exchanged, compared to its average volume of 3,236,006. 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 market cap of $78.25 billion, a P/E ratio of 78.03 and a beta of 1.52. Brookfield has a 52 week low of $28.84 and a 52 week high of $49.44. The firm has a 50 day moving average of $43.66 and a 200 day moving average of $41.99.

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

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 13th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Thursday, June 13th. Brookfield’s dividend payout ratio (DPR) is 52.46%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BN shares. Scotiabank boosted their target price on shares of Brookfield from $49.50 to $50.50 and gave the stock an “outperform” rating in a research report on Thursday. Keefe, Bruyette & Woods lowered their target price on Brookfield from $46.00 to $44.00 and set a “market perform” rating for the company in a research note on Friday, July 12th. JPMorgan Chase & Co. increased their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Royal Bank of Canada decreased their price target 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. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and an average target price of $48.00.

Insiders Place Their Bets

In other Brookfield news, 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 value of $4,760,000.00. Following the transaction, the director now directly owns 10,779,668 shares of the company’s stock, valued at $128,278,049.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 11.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Brookfield

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after buying an additional 272 shares in the last quarter. Mckinley Capital Management LLC increased its position in shares of Brookfield by 0.9% in the first quarter. Mckinley Capital Management LLC now owns 32,649 shares of the company’s stock worth $1,367,000 after acquiring an additional 283 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in Brookfield by 4.5% during the 1st quarter. Checchi Capital Advisers LLC now owns 6,622 shares of the company’s stock valued at $277,000 after purchasing an additional 288 shares during the period. Rosenberg Matthew Hamilton raised its position in Brookfield by 20.6% during the second quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock valued at $71,000 after buying an additional 296 shares during the period. Finally, Pembroke Management LTD grew its position in Brookfield by 4.4% during the first quarter. Pembroke Management LTD now owns 7,339 shares of the company’s stock valued at $307,000 after purchasing an additional 310 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

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.