Malaga Cove Capital LLC Takes $202,000 Position in Brookfield Co. (NYSE:BN)

Malaga Cove Capital LLC acquired a new position in Brookfield Co. (NYSE:BN) during the third quarter, Holdings Channel reports. The firm acquired 3,809 shares of the company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Blue Trust Inc. lifted its position in Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares during the last quarter. Kings Path Partners LLC bought a new stake in shares of Brookfield during the 2nd quarter worth $31,000. Family Firm Inc. purchased a new position in shares of Brookfield during the 2nd quarter valued at about $36,000. Nisa Investment Advisors LLC lifted its position in Brookfield by 63.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock worth $48,000 after buying an additional 450 shares during the last quarter. Finally, Asset Dedication LLC purchased a new stake in Brookfield in the second quarter worth approximately $56,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Trading Up 1.0 %

BN opened at $57.53 on Friday. The firm has a market capitalization of $94.71 billion, a price-to-earnings ratio of 99.19 and a beta of 1.53. Brookfield Co. has a one year low of $31.43 and a one year high of $57.78. The business has a 50 day simple moving average of $52.34 and a two-hundred day simple moving average of $46.94. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.03.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.57. The company had revenue of $23.05 billion during the quarter, compared to analyst estimates of $1.24 billion. Brookfield had a return on equity of 3.67% and a net margin of 1.13%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. Analysts predict that Brookfield Co. will post 3.81 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Scotiabank boosted their price objective on shares of Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. TD Securities upped their price target on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. BMO Capital Markets lifted their price objective on Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. JPMorgan Chase & Co. increased their target price on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada decreased their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.31.

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.