Cannell & Spears LLC Reduces Stake in Brookfield Co. (NYSE:BN)

Cannell & Spears LLC has decreased its holdings in Brookfield Co. (NYSE:BN - Free Report) by 2.9% in the fourth quarter, as revealed in the firm's latest filing with the Securities and Exchange Commission. After this adjustment, the institutional investor now owns 1,986,587 shares of Brookfield, having sold 59,318 shares during the quarter. This reduction means that Brookfield represents 2.4% of Cannell & Spears LLC's investment portfolio, making it the sixth largest position in their portfolio. As per the latest SEC filing, Cannell & Spears LLC's total investment in Brookfield is approximately 0.12%, valued at $114,129,000.

Changes in Other Institutional Holdings

In addition to Cannell & Spears LLC, several other institutional investors have either increased or decreased their stakes in Brookfield. For instance, Summit Financial LLC sharply increased its holdings by 622.4% in the fourth quarter, now owning 27,508 shares worth $1,580,000 after acquiring an additional 23,700 shares. O Shaughnessy Asset Management LLC also raised its position by 2.6%, owning 309,257 shares valued at $17,757,000 after purchasing 7,772 more shares. Clearbridge Investments LLC enhanced its stake by 29.4%, acquiring 505,441 additional shares, bringing its total to 2,222,358 shares worth $127,674,000. Arrowstreet Capital Limited Partnership grew its position by 86.9%, owning 314,143 shares valued at $18,037,000 following the acquisition of 146,082 shares. Lastly, Allianz SE entered Brookfield's pool of investors with a new stake worth around $319,000. Overall, hedge funds and institutional investors now own 61.60% of the company's shares.

Analyst Perspectives

Recently, several research analysts have provided insights on Brookfield's stock. Scotiabank raised their price target from $69.00 to $71.00, issuing a rating of "sector outperform" on February 3rd. TD Securities increased their target from $74.00 to $75.00, rating it as a "buy" on February 11th. Morgan Stanley initiated coverage with an "overweight" rating and a price target of $80.00 on January 23rd, while CIBC revised their target upwards from $68.00 to $70.00, also giving it an "outperform" rating. Currently, MarketBeat data reveals one analyst rates the stock as a hold, while six analysts recommend a buy. The consensus rating is a "Moderate Buy" with a target price estimated at $64.00.

Current Stock Performance

On Monday, shares of Brookfield opened at $51.77. The stock's 50-day moving average stands at $56.83, while its 200-day moving average is at $56.27. Brookfield's financial metrics include a debt-to-equity ratio of 1.40, a quick ratio of 1.09, and a current ratio of 1.21. Over the past year, the stock has seen lows of $38.18 and highs of $62.78, with a market capitalization of $85.25 billion and a price-to-earnings ratio of 172.57, accompanied by a beta of 1.65.

Recent Earnings Announcements

Brookfield recently reported earnings on February 13th, where it achieved an earnings per share (EPS) of $1.01 for the quarter, surpassing analysts' expectations of $0.88 by $0.13. The company recorded a return on equity of 3.93% and net margins of 0.75%. Analysts estimate that Brookfield will post an EPS of 3.85 for the current fiscal year.

Dividend Notification

The company has also announced a quarterly dividend to be paid on March 31st. Shareholders on record by March 14th will receive a dividend of $0.09. This dividend announcement indicates an annualized yield of $0.36 and a dividend yield of 0.70%, with a payout ratio of 120.00%.

Company Overview

Brookfield Corporation operates as an alternative asset manager and real estate investment firm. It specializes in various sectors including real estate, renewable energy, infrastructure, venture capital, and private equity assets. The company provides a spectrum of public and private investment products and services to both institutional and retail clients.

Brookfield, Investment, Finance