Connective Portfolio Management LLC bought a new stake in shares of Brookfield Co. (NYSE:BN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 33,310 shares of the company's stock, valued at approximately $1,914,000. Brookfield makes up approximately 2.8% of Connective Portfolio Management LLC's investment portfolio, making the stock its 11th largest position.
Other hedge funds have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Brookfield by 131.9% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company's stock valued at $24,594,000 after buying an additional 263,375 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Brookfield by 5.7% in the third quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company's stock valued at $9,764,000 after acquiring an additional 9,915 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Brookfield by 10.9% during the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company's stock worth $320,670,000 after purchasing an additional 591,757 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Brookfield by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company's stock worth $189,507,000 after purchasing an additional 351,231 shares in the last quarter. Finally, Partners Group Holding AG lifted its holdings in shares of Brookfield by 53.5% during the 3rd quarter. Partners Group Holding AG now owns 409,303 shares of the company's stock valued at $21,754,000 after purchasing an additional 142,603 shares during the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts recently issued reports on BN shares. Scotiabank upped their target price on Brookfield from $65.00 to $69.00 and gave the company a "sector outperform" rating in a research report on Friday, November 15th. BMO Capital Markets restated an "outperform" rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $55.31.
View Our Latest Analysis on Brookfield
Brookfield Stock Performance
NYSE:BN traded up $0.55 during midday trading on Thursday, hitting $57.45. The company's stock had a trading volume of 868,188 shares, compared to its average volume of 2,736,367. The firm's 50 day moving average is $58.11 and its 200-day moving average is $52.34. The firm has a market cap of $86.66 billion, a P/E ratio of 122.16 and a beta of 1.56. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. Brookfield Co. has a fifty-two week low of $37.79 and a fifty-two week high of $62.44.
Brookfield Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.56%. Brookfield's dividend payout ratio is presently 68.09%.
About Brookfield
(
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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