Fmr LLC Lowers Position in Brookfield Co. (NYSE:BN)

Fmr LLC lessened its stake in shares of Brookfield Co. (NYSE:BN) by 2.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 10,162,455 shares of the company’s stock after selling 204,027 shares during the period. Fmr LLC’s holdings in Brookfield were worth $539,883,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nicholas Hoffman & Company LLC. lifted its stake in shares of Brookfield by 3.9% during the 2nd 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 in the last quarter. Blue Trust Inc. grew its position in shares of Brookfield by 62.8% during the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after purchasing an additional 272 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake 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 valued at $551,000 after purchasing an additional 292 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in Brookfield by 20.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock worth $71,000 after purchasing an additional 296 shares in the last quarter. Finally, Caprock Group LLC boosted its stake in Brookfield by 2.5% in the 3rd quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock worth $655,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price 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. Royal Bank of Canada decreased their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Scotiabank raised their price objective 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 reiterated an “outperform” rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Finally, TD Securities raised their price target on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Stock Performance

Shares of NYSE BN opened at $61.37 on Friday. Brookfield Co. has a 1-year low of $34.97 and a 1-year high of $61.77. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. The business’s 50 day moving average is $55.15 and its two-hundred day moving average is $48.64. The stock has a market capitalization of $101.06 billion, a P/E ratio of 130.77 and a beta of 1.53.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Monday, December 16th. Brookfield’s dividend 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.