Brookfield Co. (NYSE:BN) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. cut its stake in shares of Brookfield Co. (NYSE:BN) by 18.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 385,045 shares of the company’s stock after selling 85,808 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Brookfield were worth $20,452,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Nicholas Hoffman & Company LLC. lifted its holdings in Brookfield by 3.9% in the second quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock valued at $282,000 after acquiring an additional 257 shares during the period. Blue Trust Inc. increased its position in shares of Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after buying an additional 272 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Brookfield by 2.9% in the third quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock valued at $551,000 after buying an additional 292 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in shares of Brookfield by 20.6% in the second quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock valued at $71,000 after buying an additional 296 shares in the last quarter. Finally, Caprock Group LLC increased its position in shares of Brookfield by 2.5% in the third quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock valued at $655,000 after buying an additional 300 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BN shares. Keefe, Bruyette & Woods raised their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. TD Securities lifted their price objective on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Scotiabank lifted 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. Royal Bank of Canada lowered their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. lifted their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Stock Up 2.1 %

Shares of BN traded up $1.29 during trading on Thursday, reaching $61.37. The company’s stock had a trading volume of 2,911,928 shares, compared to its average volume of 2,768,172. The company has a fifty day moving average of $54.74 and a two-hundred day moving average of $48.46. Brookfield Co. has a twelve month low of $33.72 and a twelve month high of $61.63. The company has a market cap of $101.06 billion, a price-to-earnings ratio of 130.58 and a beta of 1.53. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40.

Brookfield Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.52%. Brookfield’s dividend payout ratio (DPR) is 68.09%.

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.