Bridges Investment Management Inc. Sells 3,783 Shares of Brookfield Co. (NYSE:BN)

Bridges Investment Management Inc. reduced its position in shares of Brookfield Co. (NYSE:BN) by 10.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,617 shares of the company’s stock after selling 3,783 shares during the period. Bridges Investment Management Inc.’s holdings in Brookfield were worth $1,734,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BN. Blue Trust Inc. grew its holdings in shares of Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares during the last quarter. Kings Path Partners LLC bought a new stake in shares of Brookfield during the second quarter worth $31,000. Family Firm Inc. acquired a new position in shares of Brookfield during the second quarter worth $36,000. Nisa Investment Advisors LLC boosted its holdings in shares of Brookfield by 63.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock valued at $48,000 after acquiring an additional 450 shares in the last quarter. Finally, Asset Dedication LLC bought a new stake in Brookfield during the 2nd quarter worth $56,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Performance

Shares of BN opened at $57.09 on Friday. Brookfield Co. has a 52 week low of $31.43 and a 52 week high of $57.78. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. The stock has a 50 day moving average price of $52.47 and a two-hundred day moving average price of $47.11. The firm has a market capitalization of $93.99 billion, a P/E ratio of 98.43 and a beta of 1.53.

Brookfield (NYSE:BN) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. The business had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. Brookfield’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 EPS. Equities analysts forecast that Brookfield Co. will post 3.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BN has been the topic of several recent research reports. Royal Bank of Canada cut their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Keefe, Bruyette & Woods lifted their price target on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. BMO Capital Markets increased their price objective on Brookfield from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, September 11th. TD Securities lifted their target price on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Scotiabank increased their price target on Brookfield from $51.25 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Brookfield presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.31.

Brookfield Company 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.