Legacy Capital Wealth Partners LLC Invests $308,000 in Brookfield Co. (NYSE:BN)

Legacy Capital Wealth Partners LLC purchased a new position in shares of Brookfield Co. (NYSE:BN) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 7,685 shares of the company’s stock, valued at approximately $308,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Eldred Rock Partners LLC purchased a new position in shares of Brookfield during the 4th quarter worth approximately $9,868,000. Private Trust Co. NA raised its position in Brookfield by 30.5% in the third quarter. Private Trust Co. NA now owns 2,055 shares of the company’s stock worth $64,000 after acquiring an additional 480 shares in the last quarter. JPMorgan Chase & Co. raised its position in Brookfield by 4.9% in the third quarter. JPMorgan Chase & Co. now owns 5,841,070 shares of the company’s stock worth $182,650,000 after acquiring an additional 273,474 shares in the last quarter. Northside Capital Management LLC purchased a new stake in shares of Brookfield during the 4th quarter worth $229,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Brookfield during the 3rd quarter worth $23,667,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BN. Scotiabank upped their target price on shares of Brookfield from $49.00 to $50.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 9th. BMO Capital Markets raised their price objective on Brookfield from $42.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. TD Securities upped their target price on Brookfield from $61.00 to $62.00 and gave the company an “action list buy” rating in a report on Sunday, February 11th. JPMorgan Chase & Co. lifted their price target on Brookfield from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Finally, TheStreet raised shares of Brookfield from a “c” rating to a “b” rating in a research note on Thursday, February 8th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and an average price target of $47.25.

Insider Activity

In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of Brookfield stock in a transaction on 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 document filed with the SEC, which is available at the SEC website. In other Brookfield news, major shareholder Oaktree Capital Group Holdings sold 7,131 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $21.75, for a total transaction of $155,099.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the completion of the transaction, the director now directly owns 15,492,168 shares in the company, valued at approximately $175,526,263.44. The disclosure for this sale can be found here. Corporate insiders own 11.00% of the company’s stock.

Brookfield Stock Performance

Shares of BN opened at $41.06 on Tuesday. The company has a market capitalization of $67.42 billion, a price-to-earnings ratio of 66.23 and a beta of 1.49. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 1.15. Brookfield Co. has a 1 year low of $28.84 and a 1 year high of $43.17. The company’s 50 day simple moving average is $40.81 and its 200 day simple moving average is $38.09.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.14. The company had revenue of $24.52 billion for the quarter, compared to analyst estimates of $1.15 billion. Brookfield had a return on equity of 3.22% and a net margin of 1.18%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 EPS. On average, sell-side analysts predict that Brookfield Co. will post 3.75 EPS for the current year.

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th were issued a $0.08 dividend. This is a boost from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date was Tuesday, March 12th. This represents a $0.32 annualized dividend and a yield of 0.78%. Brookfield’s payout ratio is 51.61%.

Brookfield 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.