Addenda Capital Inc. Sells 150,237 Shares of Brookfield Co. (NYSE:BN)

Addenda Capital Inc. trimmed its holdings in shares of Brookfield Co. (NYSE:BN - Free Report) by 8.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,671,698 shares of the company's stock after selling 150,237 shares during the period. Brookfield comprises approximately 4.2% of Addenda Capital Inc.'s investment portfolio, making the stock its biggest position. Addenda Capital Inc. owned approximately 0.10% of Brookfield worth $87,614,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BN. Vanguard Group Inc. grew its holdings in shares of Brookfield by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company's stock worth $3,443,129,000 after acquiring an additional 974,533 shares during the last quarter. Capital World Investors lifted its holdings in shares of Brookfield by 3.1% during 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 last quarter. FIL Ltd boosted its position in shares of Brookfield by 8.8% in the 4th quarter. FIL Ltd now owns 20,354,516 shares of the company's stock valued at $1,169,912,000 after purchasing an additional 1,640,903 shares during the period. Norges Bank purchased a new position in Brookfield in the 4th quarter worth about $973,591,000. Finally, CIBC Asset Management Inc increased its stake in Brookfield by 6.2% in the 4th quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company's stock worth $814,585,000 after purchasing an additional 823,428 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BN. Wall Street Zen lowered Brookfield from a "hold" rating to a "sell" rating in a report on Saturday. TD Securities dropped their price target on Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Morgan Stanley reissued an "overweight" rating on shares of Brookfield in a research note on Monday, May 19th. CIBC lowered their target price on Brookfield from $74.00 to $72.00 and set an "outperformer" rating on the stock in a research note on Friday, May 9th. Finally, Scotiabank dropped their target price on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a report on Monday, April 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Brookfield presently has an average rating of "Moderate Buy" and a consensus target price of $63.00.

Brookfield Stock Down 0.4%

BN traded down $0.26 during trading on Wednesday, reaching $57.93. 1,419,765 shares of the stock traded hands, compared to its average volume of 2,708,056. The stock's 50-day simple moving average is $53.66 and its two-hundred day simple moving average is $56.18. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. Brookfield Co. has a fifty-two week low of $39.97 and a fifty-two week high of $62.78. The stock has a market cap of $95.44 billion, a price-to-earnings ratio of 193.11 and a beta of 1.64.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. The company had revenue of $1.37 billion during 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 research analysts expect that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Friday, June 13th. Brookfield's dividend payout ratio (DPR) is presently 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.