Fmr LLC Reduces Holdings in Brookfield Co. (NYSE:BN)

FMR LLC cut its position in Brookfield Co. (NYSE:BN - Free Report) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,162,455 shares of the company's stock after selling 204,027 shares during the quarter. FMR LLC owned approximately 0.62% of Brookfield worth $539,883,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nicholas Hoffman & Company LLC. raised its holdings in shares of Brookfield by 3.9% in the second quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company's stock valued at $282,000 after buying an additional 257 shares during the last quarter. Blue Trust Inc. raised its stake in Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company's stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in Brookfield by 2.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company's stock worth $551,000 after acquiring an additional 292 shares during the period. Rosenberg Matthew Hamilton lifted its position in Brookfield by 20.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company's stock worth $71,000 after acquiring an additional 296 shares during the period. Finally, Caprock Group LLC grew its stake in shares of Brookfield by 2.5% in the 3rd quarter. Caprock Group LLC now owns 12,332 shares of the company's stock valued at $655,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on BN. Scotiabank upped their price target on Brookfield from $65.00 to $69.00 and gave the stock a "sector outperform" rating in a research note on Friday, November 15th. TD Securities raised their target price on shares of Brookfield from $62.00 to $63.00 and gave the stock a "buy" rating in a research note on Monday, August 12th. BMO Capital Markets reiterated an "outperform" rating and set a $62.00 price target (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Keefe, Bruyette & Woods raised their price objective on shares of Brookfield from $44.00 to $46.00 and gave the company a "market perform" rating in a research report on Friday, August 9th. Finally, Royal Bank of Canada lowered their price objective on Brookfield from $57.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $55.31.

Brookfield Price Performance

BN traded up $0.02 on Friday, hitting $61.39. 1,272,166 shares of the company were exchanged, compared to its average volume of 2,761,707. The business's fifty day moving average is $55.34 and its 200 day moving average is $48.76. Brookfield Co. has a fifty-two week low of $34.97 and a fifty-two week high of $61.77. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The firm has a market capitalization of $101.09 billion, a P/E ratio of 130.62 and a beta of 1.53.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield's payout ratio is currently 68.09%.

Brookfield Profile

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.