Gateway Investment Advisers LLC lessened its holdings in shares of Brookfield Co. (NYSE:BN - Free Report) by 31.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 102,804 shares of the company's stock after selling 46,454 shares during the quarter. Gateway Investment Advisers LLC's holdings in Brookfield were worth $5,906,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Brookfield by 131.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company's stock worth $24,594,000 after purchasing an additional 263,375 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Brookfield by 5.7% during the 3rd 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 during the period. Geode Capital Management LLC grew its holdings in shares of Brookfield by 10.9% during the 3rd 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. grew its holdings in shares of Brookfield by 10.9% during the 3rd 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 increased its position in shares of Brookfield by 53.5% in the third quarter. Partners Group Holding AG now owns 409,303 shares of the company's stock worth $21,754,000 after purchasing an additional 142,603 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on the stock. Scotiabank upped their price objective on shares of Brookfield from $65.00 to $69.00 and gave the stock 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 from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $55.31.
Check Out Our Latest Analysis on Brookfield
Brookfield Trading Up 1.0 %
Brookfield stock traded up $0.58 during trading hours on Friday, hitting $58.16. The stock had a trading volume of 1,406,514 shares, compared to its average volume of 2,666,492. The business's 50 day simple moving average is $58.11 and its 200-day simple moving average is $52.38. Brookfield Co. has a one year low of $38.18 and a one year high of $62.44. The stock has a market cap of $87.73 billion, a price-to-earnings ratio of 123.75 and a beta of 1.56. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40.
Brookfield Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Monday, December 16th. Brookfield's payout ratio is currently 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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