Lindbrook Capital LLC Raises Stake in Brookfield Co. (NYSE:BN)

Lindbrook Capital LLC increased its stake in Brookfield Co. (NYSE:BN) by 10.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 8,198 shares of the company’s stock after acquiring an additional 749 shares during the quarter. Lindbrook Capital LLC’s holdings in Brookfield were worth $471,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. CIBC Asset Management Inc boosted its position in Brookfield by 6.2% during the fourth 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. The Manufacturers Life Insurance Company boosted its position in shares of Brookfield by 31.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after buying an additional 2,818,716 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of Brookfield by 1.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after buying an additional 196,790 shares in the last quarter. Toronto Dominion Bank grew its stake in Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after acquiring an additional 1,301,072 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Brookfield by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after acquiring an additional 591,757 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on BN shares. Morgan Stanley assumed coverage on shares of Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. TD Securities raised their price target on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. CIBC boosted their price target on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a report on Thursday, January 23rd. Finally, Scotiabank increased their price objective on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. One research analyst has rated the stock with 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 $64.00.

Brookfield Trading Down 5.2 %

Shares of Brookfield stock opened at $52.34 on Friday. The firm has a market cap of $86.16 billion, a PE ratio of 174.47 and a beta of 1.65. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78. The business’s fifty day moving average is $58.46 and its two-hundred day moving average is $55.71.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. Analysts anticipate that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.69%. Brookfield’s dividend payout ratio is presently 120.00%.

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.