Hi Line Capital Management LLC Decreases Holdings in Brookfield Co. (NYSE:BN)

Hi Line Capital Management LLC cut its holdings in Brookfield Co. (NYSE:BN - Free Report) by 18.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 253,123 shares of the company's stock after selling 56,557 shares during the period. Brookfield makes up approximately 6.6% of Hi Line Capital Management LLC's investment portfolio, making the stock its 3rd largest position. Hi Line Capital Management LLC's holdings in Brookfield were worth $13,453,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Brookfield by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company's stock valued at $2,406,700,000 after acquiring an additional 1,063,110 shares during the period. Capital World Investors lifted its position in Brookfield by 5.1% during the first quarter. Capital World Investors now owns 51,922,031 shares of the company's stock worth $2,173,923,000 after purchasing an additional 2,497,509 shares during the period. 1832 Asset Management L.P. grew its stake in Brookfield by 1.3% during the first quarter. 1832 Asset Management L.P. now owns 22,605,567 shares of the company's stock worth $946,495,000 after buying an additional 299,029 shares in the last quarter. Cooke & Bieler LP increased its holdings in Brookfield by 5.0% in the 2nd quarter. Cooke & Bieler LP now owns 5,698,773 shares of the company's stock valued at $236,727,000 after buying an additional 269,813 shares during the period. Finally, Bessemer Group Inc. raised its position in shares of Brookfield by 3.7% in the 1st quarter. Bessemer Group Inc. now owns 3,215,411 shares of the company's stock valued at $134,629,000 after buying an additional 113,241 shares in the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Trading Up 0.3 %

Shares of BN stock traded up $0.15 during trading hours on Friday, hitting $53.15. 1,174,225 shares of the company were exchanged, compared to its average volume of 2,835,617. 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 $31.05 and a fifty-two week high of $56.83. The company has a 50 day simple moving average of $51.82 and a two-hundred day simple moving average of $46.46. The firm has a market cap of $87.50 billion, a P/E ratio of 91.64 and a beta of 1.54.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.35 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.57. The business 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.75 EPS. Equities analysts anticipate that Brookfield Co. will post 3.81 EPS for the current year.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Thursday, September 12th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Thursday, September 12th. Brookfield's payout ratio is currently 55.17%.

Analyst Ratings Changes

BN has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on Brookfield from $49.00 to $52.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 31st. Scotiabank raised their price target on shares of Brookfield from $51.25 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday. BMO Capital Markets upped their price objective on shares of Brookfield from $48.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 11th. Royal Bank of Canada dropped their price objective on shares of Brookfield from $57.00 to $56.00 and set an "outperform" rating for the company in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a "market perform" rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $53.31.

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.