Vanguard Group Inc. Boosts Holdings in Brookfield Co. (NYSE:BN)

Vanguard Group Inc. raised its stake in shares of Brookfield Co. (NYSE:BN) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 59,904,458 shares of the company’s stock after acquiring an additional 974,533 shares during the period. Vanguard Group Inc.’s holdings in Brookfield were worth $3,443,129,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans acquired a new position in Brookfield in the third quarter valued at approximately $223,000. Cerity Partners LLC lifted its stake in shares of Brookfield by 20.2% in the 3rd quarter. Cerity Partners LLC now owns 97,719 shares of the company’s stock valued at $5,194,000 after purchasing an additional 16,425 shares during the period. Algert Global LLC purchased a new stake in Brookfield during the third quarter worth $1,585,000. Douglass Winthrop Advisors LLC acquired a new stake in Brookfield during the third quarter valued at $229,000. Finally, Brown Brothers Harriman & Co. increased its holdings in Brookfield by 4.5% in the third quarter. Brown Brothers Harriman & Co. now owns 36,499 shares of the company’s stock valued at $1,940,000 after buying an additional 1,582 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Trading Up 0.0 %

Shares of BN stock opened at $55.37 on Wednesday. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78. The firm has a market capitalization of $91.18 billion, a P/E ratio of 184.57 and a beta of 1.65. The stock’s fifty day moving average is $57.08 and its two-hundred day moving average is $56.15. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21.

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

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.65%. Brookfield’s dividend payout ratio is presently 120.00%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BN. Morgan Stanley assumed coverage on Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 target price on the stock. TD Securities raised their price objective on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. CIBC upped their target price on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. Finally, Scotiabank boosted their price target on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a report 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.00.

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.