Ervin Investment Management LLC Sells 3,551 Shares of Brookfield Co. (NYSE:BN)

Ervin Investment Management LLC cut its holdings in Brookfield Co. (NYSE:BN) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 161,430 shares of the company’s stock after selling 3,551 shares during the period. Brookfield accounts for about 6.1% of Ervin Investment Management LLC’s portfolio, making the stock its 5th largest holding. Ervin Investment Management LLC’s holdings in Brookfield were worth $9,274,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in BN. The Manufacturers Life Insurance Company raised its position in Brookfield by 31.6% in the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after purchasing an additional 2,818,716 shares during the period. EdgePoint Investment Group Inc. raised its position in Brookfield by 1.7% in the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after purchasing an additional 196,790 shares during the period. Toronto Dominion Bank increased its position in shares of Brookfield by 23.4% during the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after acquiring an additional 1,301,072 shares during the period. Geode Capital Management LLC increased its position in shares of Brookfield by 10.9% during the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after acquiring an additional 591,757 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Brookfield by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after acquiring an additional 351,231 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Performance

NYSE:BN opened at $58.16 on Monday. The firm has a market capitalization of $87.73 billion, a PE ratio of 123.75 and a beta of 1.56. The business’s fifty day moving average price is $58.13 and its 200 day moving average price is $52.64. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. Brookfield Co. has a 12 month low of $38.18 and a 12 month high of $62.44.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were paid a $0.08 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.55%. Brookfield’s dividend payout ratio is presently 68.09%.

Wall Street Analyst Weigh In

BN has been the topic of a number of recent research reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Scotiabank increased their target price on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Company 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.