Procyon Advisors LLC Has $2.76 Million Stock Position in Brookfield Co. (NYSE:BN)

Procyon Advisors LLC reduced its position in Brookfield Co. (NYSE:BN) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,012 shares of the company’s stock after selling 394 shares during the quarter. Procyon Advisors LLC’s holdings in Brookfield were worth $2,758,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Brookfield by 131.9% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock valued at $24,594,000 after acquiring an additional 263,375 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Brookfield by 5.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock worth $9,764,000 after purchasing an additional 9,915 shares in the last quarter. Geode Capital Management LLC grew its position in Brookfield by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after purchasing an additional 591,757 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Brookfield by 10.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock valued at $189,507,000 after purchasing an additional 351,231 shares in the last quarter. Finally, Partners Group Holding AG raised its holdings in Brookfield by 53.5% during the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock worth $21,754,000 after buying an additional 142,603 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on BN shares. Scotiabank boosted their price objective on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a report on Friday, November 15th. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.31.

Brookfield Price Performance

Shares of Brookfield stock opened at $57.51 on Friday. The stock has a market capitalization of $86.75 billion, a price-to-earnings ratio of 122.36 and a beta of 1.56. The company has a fifty day moving average of $58.11 and a 200-day moving average of $52.38. Brookfield Co. has a 52-week low of $37.79 and a 52-week high of $62.44. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. Brookfield’s dividend payout ratio (DPR) is presently 68.09%.

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.