Arrowstreet Capital Limited Partnership increased its holdings in shares of Brookfield Co. (NYSE:BN - Free Report) by 86.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 314,143 shares of the company's stock after buying an additional 146,082 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Brookfield were worth $18,037,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Brookfield by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company's stock valued at $3,443,129,000 after acquiring an additional 974,533 shares in the last quarter. Norges Bank purchased a new stake in shares of Brookfield in the 4th quarter valued at about $973,591,000. CIBC Asset Management Inc boosted its position in shares of Brookfield by 6.2% in the 4th quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company's stock valued at $814,585,000 after purchasing an additional 823,428 shares during the period. EdgePoint Investment Group Inc. grew its stake in Brookfield by 1.7% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company's stock worth $611,383,000 after buying an additional 196,790 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in Brookfield by 23.4% during the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company's stock worth $364,152,000 after buying an additional 1,301,072 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.
Brookfield Stock Up 13.0 %
NYSE BN traded up $5.81 on Wednesday, hitting $50.50. 8,690,378 shares of the stock traded hands, compared to its average volume of 2,841,635. The company has a market capitalization of $83.16 billion, a P/E ratio of 168.34 and a beta of 1.60. The stock has a 50-day moving average of $54.66 and a 200 day moving average of $56.09. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.78.
Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, analysts expect that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.
Brookfield Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.71%. Brookfield's payout ratio is 120.00%.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. Scotiabank dropped their price objective on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a research note on Monday. TD Securities increased their price objective on Brookfield from $74.00 to $75.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. CIBC raised their price objective on shares of Brookfield from $68.00 to $70.00 and gave the company an "outperformer" rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley began coverage on shares of Brookfield in a research report on Thursday, January 23rd. They set an "overweight" rating and a $80.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $63.63.
Read Our Latest Research Report on Brookfield
Brookfield Profile
(
Free Report)
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.
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