Brookfield Co. (NYSE:BN) is Cardinal Capital Management Inc.’s 3rd Largest Position

Cardinal Capital Management Inc. cut its position in Brookfield Co. (NYSE:BN) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,270,319 shares of the company’s stock after selling 51,745 shares during the period. Brookfield makes up 4.4% of Cardinal Capital Management Inc.’s holdings, making the stock its 3rd largest position. Cardinal Capital Management Inc.’s holdings in Brookfield were worth $130,196,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company boosted its holdings in Brookfield by 31.6% in the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after purchasing an additional 2,818,716 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings 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 valued at $611,383,000 after buying an additional 196,790 shares during the period. Toronto Dominion Bank boosted its stake in shares of Brookfield by 23.4% in the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after buying an additional 1,301,072 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Brookfield by 10.9% in the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after buying an additional 591,757 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Brookfield by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after acquiring an additional 351,231 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Price Performance

Shares of NYSE BN opened at $58.96 on Thursday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The firm has a fifty day moving average of $58.18 and a 200 day moving average of $52.91. The firm has a market cap of $97.04 billion, a PE ratio of 125.45 and a beta of 1.56. Brookfield Co. has a one year low of $38.18 and a one year high of $62.44.

Brookfield Dividend Announcement

The business 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 was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.54%. Brookfield’s dividend payout ratio is currently 68.09%.

Wall Street Analyst Weigh In

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

Brookfield Company 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.