Icon Wealth Advisors LLC Sells 8,869 Shares of Brookfield Co. (NYSE:BN)

Icon Wealth Advisors LLC cut its holdings in Brookfield Co. (NYSE:BN - Free Report) by 88.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,214 shares of the company's stock after selling 8,869 shares during the period. Icon Wealth Advisors LLC's holdings in Brookfield were worth $65,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company's stock worth $30,000 after purchasing an additional 272 shares during the period. Kings Path Partners LLC bought a new stake in Brookfield in the 2nd quarter valued at about $31,000. Family Firm Inc. bought a new stake in Brookfield in the 2nd quarter valued at about $36,000. First Personal Financial Services acquired a new position in Brookfield during the 3rd quarter worth approximately $42,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Brookfield by 63.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company's stock worth $48,000 after acquiring an additional 450 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Stock Performance

Shares of BN traded up $1.43 on Monday, reaching $59.71. 3,580,844 shares of the company's stock traded hands, compared to its average volume of 2,770,666. The stock's 50 day simple moving average is $54.36 and its two-hundred day simple moving average is $48.24. The stock has a market cap of $98.32 billion, a PE ratio of 123.98 and a beta of 1.53. Brookfield Co. has a 52-week low of $33.72 and a 52-week high of $60.20. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield's payout ratio is 68.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BN shares. 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. Keefe, Bruyette & Woods upped their price objective on shares of Brookfield from $44.00 to $46.00 and gave the stock a "market perform" rating in a report on Friday, August 9th. TD Securities lifted their price objective on shares of Brookfield from $62.00 to $63.00 and gave the company a "buy" rating in a report on Monday, August 12th. Royal Bank of Canada lowered their target price on shares of Brookfield from $57.00 to $56.00 and set an "outperform" rating on the stock in a report on Friday, August 9th. Finally, Scotiabank boosted their price objective on Brookfield from $65.00 to $69.00 and gave the stock a "sector outperform" rating 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.31.

About Brookfield

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.