Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Brookfield Co. (NYSE:BN - Free Report) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,507,113 shares of the company's stock after acquiring an additional 668,630 shares during the quarter. Brookfield makes up about 1.7% of Connor Clark & Lunn Investment Management Ltd.'s holdings, making the stock its 10th largest position. Connor Clark & Lunn Investment Management Ltd. owned about 0.40% of Brookfield worth $373,527,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. Compass Planning Associates Inc purchased a new stake in Brookfield in the fourth quarter worth $30,000. FSA Wealth Management LLC purchased a new position in Brookfield during the third quarter worth about $42,000. Prestige Wealth Management Group LLC grew its position in Brookfield by 137.0% during the third quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company's stock worth $46,000 after buying an additional 500 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Brookfield during the fourth quarter worth about $48,000. Finally, Continuum Advisory LLC purchased a new position in Brookfield during the third quarter worth about $55,000. 61.60% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on BN shares. CIBC lifted their price target on Brookfield from $68.00 to $70.00 and gave the stock an "outperformer" rating in a research note on Thursday, January 23rd. TD Securities lifted their price target on Brookfield from $74.00 to $75.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Scotiabank lifted their price target on Brookfield from $69.00 to $71.00 and gave the stock a "sector outperform" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley started coverage on Brookfield in a research note on Thursday, January 23rd. They set an "overweight" rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Brookfield presently has a consensus rating of "Moderate Buy" and an average price target of $64.00.
Get Our Latest Research Report on BN
Brookfield Stock Up 3.7 %
Shares of BN stock traded up $1.78 during midday trading on Friday, reaching $50.42. 2,653,925 shares of the stock were exchanged, compared to its average volume of 2,527,297. Brookfield Co. has a 1 year low of $38.18 and a 1 year high of $62.78. The company's 50 day moving average is $57.49 and its two-hundred day moving average is $55.88. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. The firm has a market cap of $82.99 billion, a PE ratio of 168.06 and a beta of 1.65.
Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. On average, equities research analysts predict that Brookfield Co. will post 3.85 EPS for the current year.
Brookfield Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.71%. Brookfield's dividend payout ratio (DPR) is presently 120.00%.
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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