Novo Holdings A S Has $185.56 Million Stake in Brookfield Co. (NYSE:BN)

Novo Holdings A S cut its stake in Brookfield Co. (NYSE:BN - Free Report) by 10.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,491,230 shares of the company's stock after selling 389,000 shares during the period. Brookfield makes up 9.2% of Novo Holdings A S's investment portfolio, making the stock its 3rd largest position. Novo Holdings A S owned about 0.21% of Brookfield worth $185,559,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. American National Bank & Trust Co. VA purchased a new position in shares of Brookfield in the 1st quarter worth about $5,716,000. M&G Plc purchased a new position in Brookfield in the first quarter valued at approximately $111,222,000. Cetera Investment Advisers lifted its position in Brookfield by 1,022.6% during the first quarter. Cetera Investment Advisers now owns 272,807 shares of the company's stock valued at $11,427,000 after buying an additional 248,506 shares in the last quarter. Forsta AP Fonden grew its stake in Brookfield by 12.8% during the first quarter. Forsta AP Fonden now owns 259,800 shares of the company's stock worth $10,882,000 after buying an additional 29,500 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Brookfield by 324.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company's stock worth $4,390,000 after acquiring an additional 80,762 shares in the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Scotiabank upped their price target on shares of Brookfield from $50.50 to $51.25 and gave the stock a "sector outperform" rating in a research report on Friday, August 9th. TD Securities increased their target price on Brookfield from $62.00 to $63.00 and gave the company a "buy" rating in a research note on Monday, August 12th. Royal Bank of Canada reduced their price target on Brookfield from $57.00 to $56.00 and set an "outperform" rating on the stock in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their price target on Brookfield from $49.00 to $52.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a "market perform" rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $51.59.

Brookfield Stock Down 1.4 %

Shares of BN traded down $0.78 during trading on Friday, reaching $53.50. The company's stock had a trading volume of 1,100,795 shares, compared to its average volume of 2,866,084. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $56.83. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The company has a market cap of $87.94 billion, a price-to-earnings ratio of 87.70 and a beta of 1.54. The company has a fifty day moving average of $51.19 and a two-hundred day moving average of $46.05.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.57. The firm had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. The firm's 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. On average, sell-side analysts predict that Brookfield Co. will post 3.84 EPS for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Thursday, September 12th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Thursday, September 12th. Brookfield's dividend payout ratio is presently 52.46%.

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.