Investment Management Corp of Ontario Sells 7,900 Shares of Brookfield Co. (NYSE:BN)

Investment Management Corp of Ontario reduced its position in shares of Brookfield Co. (NYSE:BN - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,975 shares of the company's stock after selling 7,900 shares during the quarter. Investment Management Corp of Ontario's holdings in Brookfield were worth $3,216,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Forsta AP Fonden raised its stake in shares of Brookfield by 4.9% in the fourth quarter. Forsta AP Fonden now owns 287,200 shares of the company's stock worth $16,499,000 after purchasing an additional 13,300 shares during the last quarter. Chemistry Wealth Management LLC raised its stake in shares of Brookfield by 10.1% in the fourth quarter. Chemistry Wealth Management LLC now owns 252,597 shares of the company's stock worth $14,512,000 after purchasing an additional 23,159 shares during the last quarter. Triangle Securities Wealth Management raised its stake in shares of Brookfield by 11.2% in the fourth quarter. Triangle Securities Wealth Management now owns 90,137 shares of the company's stock worth $5,178,000 after purchasing an additional 9,048 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Brookfield by 19.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 68,583 shares of the company's stock worth $3,940,000 after purchasing an additional 11,136 shares during the last quarter. Finally, Guerra Pan Advisors LLC purchased a new stake in shares of Brookfield in the fourth quarter worth approximately $321,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Brookfield from $83.00 to $61.00 and set an "overweight" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their target price on Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. CIBC reduced their target price on Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a report on Friday, May 9th. TD Securities reduced their target price on Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, Scotiabank reduced their target price on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a report on Monday, April 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Brookfield presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.00.

Brookfield Stock Performance

NYSE BN traded up $0.25 on Thursday, hitting $59.75. 1,704,447 shares of the stock traded hands, compared to its average volume of 2,730,407. The business's fifty day moving average is $52.07 and its two-hundred day moving average is $55.97. Brookfield Co. has a 12 month low of $39.97 and a 12 month high of $62.78. The firm has a market capitalization of $98.44 billion, a price-to-earnings ratio of 199.17 and a beta of 1.64. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21.

Brookfield (NYSE:BN - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.08. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.36 billion. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, equities analysts anticipate that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 annualized dividend and a dividend yield of 0.60%. Brookfield's dividend payout ratio is currently 128.57%.

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.