Culbertson A N & Co. Inc. Lowers Holdings in Brookfield Co. (NYSE:BN)

Culbertson A N & Co. Inc. decreased its position in Brookfield Co. (NYSE:BN) by 0.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 82,481 shares of the company’s stock after selling 239 shares during the period. Culbertson A N & Co. Inc.’s holdings in Brookfield were worth $4,384,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after buying an additional 272 shares during the period. Kings Path Partners LLC purchased a new stake in Brookfield during the second quarter worth $31,000. Family Firm Inc. purchased a new stake in Brookfield during the second quarter worth $36,000. Salem Investment Counselors Inc. purchased a new stake in Brookfield during the first quarter worth $42,000. Finally, GAMMA Investing LLC lifted its holdings in Brookfield by 161.8% during the first quarter. GAMMA Investing LLC now owns 1,047 shares of the company’s stock worth $44,000 after buying an additional 647 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of BN opened at $54.71 on Thursday. The business’s 50-day moving average is $49.89 and its two-hundred day moving average is $45.31. The company has a market capitalization of $89.92 billion, a P/E ratio of 89.69 and a beta of 1.54. The company has a debt-to-equity ratio of 1.39, a quick ratio of 1.03 and a current ratio of 1.20. Brookfield Co. has a fifty-two week low of $28.84 and a fifty-two week high of $54.99.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.57. The company had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. Research analysts predict that Brookfield Co. will post 3.84 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.58%. The ex-dividend date was Thursday, September 12th. Brookfield’s dividend payout ratio is currently 52.46%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. 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 increased their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Scotiabank increased their price objective on Brookfield from $50.50 to $51.25 and gave the company a “sector outperform” rating in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods upped their target price on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $51.59.

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.