Brookfield Co. (NYSE:BN) Shares Sold by First Heartland Consultants Inc.

First Heartland Consultants Inc. cut its stake in shares of Brookfield Co. (NYSE:BN) by 28.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,439 shares of the company’s stock after selling 2,583 shares during the quarter. First Heartland Consultants Inc.’s holdings in Brookfield were worth $342,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Brookfield during the second quarter valued at about $128,321,000. M&G Plc acquired a new position in Brookfield in the 1st quarter worth approximately $111,222,000. Capital World Investors grew its position in Brookfield by 5.1% during the 1st quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after purchasing an additional 2,497,509 shares in the last quarter. Wulff Hansen & CO. raised its stake in Brookfield by 4,054.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock valued at $64,076,000 after purchasing an additional 1,505,372 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Brookfield by 1.9% in the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after purchasing an additional 1,063,110 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Performance

Shares of BN opened at $57.62 on Thursday. 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 $33.09 and a 12 month high of $59.23. The company’s fifty day moving average is $53.05 and its 200-day moving average is $47.47. The firm has a market cap of $94.88 billion, a price-to-earnings ratio of 99.35 and a beta of 1.53.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. BMO Capital Markets increased their price target on shares of Brookfield from $48.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. TD Securities boosted their price objective 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. Royal Bank of Canada cut their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. 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.com, 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.