Graybill Wealth Management LTD. Boosts Stock Position in Brookfield Co. (NYSE:BN)

23 Jan 2024, 18:50 by Scott Moore · The Cerbat Gem

Graybill Wealth Management LTD. boosted its holdings in shares of Brookfield Co. (NYSE:BN – Free Report) by 2.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 134,742 shares of the company’s stock after purchasing an additional 3,159 shares during the quarter. Brookfield makes up approximately 2.1% of Graybill Wealth Management LTD.’s holdings, making the stock its 23rd largest holding. Graybill Wealth Management LTD.’s holdings in Brookfield were worth $4,213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC bought a new stake in shares of Brookfield in the 4th quarter valued at approximately $3,727,998,000. Bank of Montreal Can bought a new stake in shares of Brookfield in the 2nd quarter valued at approximately $1,847,395,000. 1832 Asset Management L.P. bought a new stake in shares of Brookfield in the 4th quarter valued at approximately $775,028,000. Mackenzie Financial Corp bought a new stake in shares of Brookfield in the 4th quarter valued at approximately $739,834,000. Finally, Norges Bank acquired a new position in Brookfield during the 4th quarter valued at approximately $483,001,000. 58.22% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Gp Ltd Bcp sold 354,813 shares of the business’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $2.08, for a total transaction of $738,011.04. Following the transaction, the insider now owns 28,533,584 shares of the company’s stock, valued at $59,349,854.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Gp Ltd Bcp sold 354,813 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $2.08, for a total value of $738,011.04. Following the completion of the transaction, the insider now owns 28,533,584 shares of the company’s stock, valued at $59,349,854.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ocm Growth Holdings Llc sold 12,365 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $12.76, for a total transaction of $157,777.40. Following the completion of the transaction, the director now directly owns 16,492,168 shares of the company’s stock, valued at approximately $210,440,063.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,545,283 shares of company stock valued at $22,555,512. 11.00% of the stock is owned by company insiders.

Brookfield Stock Performance

Shares of Brookfield stock traded up $0.04 on Tuesday, reaching $40.23. The stock had a trading volume of 1,633,646 shares, compared to its average volume of 2,012,803. The business’s 50-day moving average price is $37.52 and its two-hundred day moving average price is $34.58. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.04 and a current ratio of 1.22. Brookfield Co. has a fifty-two week low of $28.25 and a fifty-two week high of $41.05. The stock has a market cap of $65.97 billion, a P/E ratio of -1,334.22 and a beta of 1.50.

Brookfield (NYSE:BN – Get Free Report) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Brookfield had a net margin of 0.12% and a return on equity of 2.23%. The business had revenue of $24.44 billion during the quarter, compared to analysts’ expectations of $1.07 billion.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Thursday, November 30th were given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Wednesday, November 29th. Brookfield’s dividend payout ratio (DPR) is currently -933.02%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BN. Canaccord Genuity Group boosted their price target on Brookfield from $37.74 to $41.00 in a research report on Wednesday, December 20th. Royal Bank of Canada boosted their price target on Brookfield from $44.00 to $52.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. CIBC boosted their price target on Brookfield from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, January 18th. BMO Capital Markets cut their price objective on Brookfield from $45.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, November 10th. Finally, Scotiabank upped their price objective on Brookfield from $45.00 to $46.25 and gave the company an “outperform” rating in a report on Wednesday, December 20th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $44.93.

Read Our Latest Report on BN

Brookfield Company Profile

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