Concentric Capital Strategies LP Buys New Holdings in Brookfield Co. (NYSE:BN)

Concentric Capital Strategies LP purchased a new position in Brookfield Co. (NYSE:BN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 47,285 shares of the company's stock, valued at approximately $2,717,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Brookfield in the fourth quarter valued at about $973,591,000. Baillie Gifford & Co. grew its holdings in shares of Brookfield by 809.5% in the fourth quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company's stock valued at $211,159,000 after purchasing an additional 3,271,403 shares during the period. Regents of The University of California purchased a new stake in shares of Brookfield in the fourth quarter valued at about $154,140,000. Geode Capital Management LLC grew its holdings in shares of Brookfield by 32.0% in the fourth quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company's stock valued at $460,489,000 after purchasing an additional 1,930,218 shares during the period. Finally, Capital World Investors grew its holdings in shares of Brookfield by 3.1% in the fourth quarter. Capital World Investors now owns 59,020,303 shares of the company's stock valued at $3,390,786,000 after purchasing an additional 1,782,034 shares during the period. Hedge funds and other institutional investors own 61.60% of the company's stock.

Wall Street Analyst Weigh In

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

Brookfield Stock Up 1.7%

Shares of BN traded up $1.01 during mid-day trading on Tuesday, hitting $59.71. 1,333,671 shares of the company's stock were exchanged, compared to its average volume of 2,733,652. The company has a market cap of $98.37 billion, a price-to-earnings ratio of 199.04 and a beta of 1.64. Brookfield Co. has a fifty-two week low of $39.97 and a fifty-two week high of $62.78. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The stock's 50-day moving average is $51.78 and its 200-day moving average is $55.92.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly 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 business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. On average, sell-side analysts anticipate that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 annualized dividend and a yield of 0.60%. Brookfield's dividend payout ratio (DPR) is 128.57%.

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.