Burgundy Asset Management Ltd. lessened its position in Brookfield Co. (NYSE:BN - Free Report) by 38.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,131,044 shares of the company's stock after selling 721,496 shares during the period. Burgundy Asset Management Ltd. owned approximately 0.07% of Brookfield worth $64,944,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in BN. Forsta AP Fonden lifted 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 valued at $16,499,000 after purchasing an additional 13,300 shares during the period. Janney Montgomery Scott LLC lifted 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 valued at $3,940,000 after purchasing an additional 11,136 shares during the period. Guerra Pan Advisors LLC acquired a new stake in shares of Brookfield in the fourth quarter valued at about $321,000. Barclays PLC lifted its stake in shares of Brookfield by 521.1% in the third quarter. Barclays PLC now owns 71,402 shares of the company's stock valued at $3,794,000 after purchasing an additional 59,906 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Brookfield by 1.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 78,682 shares of the company's stock valued at $4,520,000 after purchasing an additional 974 shares during the period. Institutional investors and hedge funds own 61.60% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Scotiabank cut their target price on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a research report on Monday, April 7th. TD Securities cut their target price on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Morgan Stanley restated an "overweight" rating on shares of Brookfield in a research report on Monday. Finally, CIBC cut their target price on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Brookfield presently has an average rating of "Moderate Buy" and an average target price of $63.00.
View Our Latest Research Report on BN
Brookfield Stock Performance
Shares of NYSE BN opened at $57.17 on Friday. The company has a market cap of $94.18 billion, a PE ratio of 190.57 and a beta of 1.64. Brookfield Co. has a 12 month low of $39.97 and a 12 month high of $62.78. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. The company has a 50-day simple moving average of $53.09 and a 200-day simple moving average of $56.17.
Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. On average, equities analysts anticipate that Brookfield Co. will post 3.85 earnings per share for the current year.
Brookfield Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.63%. Brookfield's dividend payout ratio (DPR) is presently 128.57%.
Brookfield Profile
(
Free Report)
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.
Further Reading
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