Manitou Investment Management Ltd. Has $2.83 Million Holdings in Brookfield Co. (NYSE:BN)

Manitou Investment Management Ltd. raised its stake in Brookfield Co. (NYSE:BN - Free Report) by 61.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,006 shares of the company's stock after buying an additional 20,640 shares during the period. Brookfield makes up about 0.6% of Manitou Investment Management Ltd.'s investment portfolio, making the stock its 18th largest holding. Manitou Investment Management Ltd.'s holdings in Brookfield were worth $2,830,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CoreCap Advisors LLC purchased a new position in Brookfield during the 4th quarter worth approximately $29,000. Compass Planning Associates Inc acquired a new stake in shares of Brookfield in the fourth quarter worth $30,000. ST Germain D J Co. Inc. purchased a new position in shares of Brookfield during the first quarter valued at $28,000. Sunbelt Securities Inc. grew its holdings in shares of Brookfield by 164.0% during the fourth quarter. Sunbelt Securities Inc. now owns 726 shares of the company's stock valued at $42,000 after buying an additional 451 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Brookfield during the fourth quarter valued at $48,000. Institutional investors and hedge funds own 61.60% of the company's stock.

Analysts Set New Price Targets

BN has been the topic of several research analyst reports. 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. Morgan Stanley reiterated an "overweight" rating on shares of Brookfield in a research report on Monday, May 19th. Wall Street Zen upgraded shares of Brookfield from a "sell" rating to a "hold" rating in a report on Sunday. CIBC dropped their price target on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating on the stock in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. reduced their price objective on Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Brookfield Stock Up 0.9%

Brookfield stock traded up $0.51 during mid-day trading on Tuesday, hitting $59.10. 5,125,716 shares of the company's stock were exchanged, compared to its average volume of 2,718,038. Brookfield Co. has a 1-year low of $39.97 and a 1-year high of $62.78. The stock has a 50 day moving average of $54.08 and a two-hundred day moving average of $56.22. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. The stock has a market cap of $97.36 billion, a P/E ratio of 196.99 and a beta of 1.66.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.08. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. As a group, analysts anticipate that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

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 paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.61%. Brookfield's payout ratio is presently 128.57%.

Brookfield 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.