Koa Wealth Management LLC Sells 6,198 Shares of Brookfield Co. (NYSE:BN)

Koa Wealth Management LLC lessened its position in Brookfield Co. (NYSE:BN) by 18.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 27,450 shares of the company’s stock after selling 6,198 shares during the period. Brookfield comprises 1.3% of Koa Wealth Management LLC’s investment portfolio, making the stock its 28th largest holding. Koa Wealth Management LLC’s holdings in Brookfield were worth $1,577,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Millennium Management LLC lifted its stake in Brookfield by 221.6% in the second quarter. Millennium Management LLC now owns 345,545 shares of the company’s stock worth $14,363,000 after purchasing an additional 238,104 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Brookfield by 4.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 164,176 shares of the company’s stock worth $6,820,000 after buying an additional 7,318 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of Brookfield by 4.5% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 20,902 shares of the company’s stock worth $869,000 after acquiring an additional 893 shares during the last quarter. Cetera Investment Advisers boosted its holdings in Brookfield by 16.1% during the 2nd quarter. Cetera Investment Advisers now owns 316,644 shares of the company’s stock valued at $13,168,000 after acquiring an additional 43,837 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in Brookfield in the 2nd quarter valued at $1,956,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BN has been the subject of several research analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Scotiabank increased their price objective on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a report on Friday, November 15th. Morgan Stanley began coverage on Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective for the company. Finally, CIBC boosted their target price on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.06.

Brookfield Trading Up 2.7 %

Shares of Brookfield stock opened at $62.08 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. The company has a fifty day simple moving average of $58.62 and a 200-day simple moving average of $53.53. The stock has a market cap of $102.17 billion, a price-to-earnings ratio of 132.09 and a beta of 1.56. Brookfield Co. has a 12-month low of $38.18 and a 12-month high of $62.44.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.08 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.52%. Brookfield’s dividend payout ratio is presently 68.09%.

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.