Koa Wealth Management LLC Cuts Stock Position in Brookfield Co. (NYSE:BN)

Koa Wealth Management LLC lowered its stake in shares of Brookfield Co. (NYSE:BN) by 7.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,648 shares of the company’s stock after selling 2,738 shares during the quarter. Brookfield accounts for about 1.4% of Koa Wealth Management LLC’s portfolio, making the stock its 26th largest position. Koa Wealth Management LLC’s holdings in Brookfield were worth $1,788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Blue Trust Inc. lifted its holdings in Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after buying an additional 272 shares during the last quarter. Kings Path Partners LLC acquired a new position in Brookfield in the 2nd quarter valued at $31,000. First Personal Financial Services purchased a new position in Brookfield during the third quarter worth about $42,000. Family Firm Inc. purchased a new position in shares of Brookfield during the 2nd quarter worth approximately $36,000. Finally, Nisa Investment Advisors LLC lifted its holdings in Brookfield by 63.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock valued at $48,000 after acquiring an additional 450 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Trading Down 1.7 %

Brookfield stock opened at $56.79 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. Brookfield Co. has a 12 month low of $33.61 and a 12 month high of $60.20. The company’s fifty day simple moving average is $53.47 and its 200-day simple moving average is $47.65. The stock has a market cap of $93.52 billion, a P/E ratio of 120.83 and a beta of 1.53.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. The ex-dividend date is Monday, December 16th. Brookfield’s payout ratio is presently 68.09%.

Analyst Upgrades and Downgrades

A number of analysts have commented on BN shares. JPMorgan Chase & Co. boosted their target price on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods increased their price objective on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada lowered their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. TD Securities raised their target price on shares of Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research note on Friday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.31.

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.