Sanctuary Advisors LLC Reduces Stock Holdings in Brookfield Co. (NYSE:BN)

Sanctuary Advisors LLC lessened its holdings in shares of Brookfield Co. (NYSE:BN) by 16.0% in the third quarter, Holdings Channel.com reports. The firm owned 40,160 shares of the company’s stock after selling 7,625 shares during the period. Sanctuary Advisors LLC’s holdings in Brookfield were worth $2,340,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of BN. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Brookfield by 131.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock valued at $24,594,000 after purchasing an additional 263,375 shares during the period. PNC Financial Services Group Inc. boosted its stake in Brookfield by 5.7% during the third quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock valued at $9,764,000 after buying an additional 9,915 shares during the period. Geode Capital Management LLC boosted its stake in Brookfield by 10.9% during the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after buying an additional 591,757 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Brookfield by 10.9% in the 3rd 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 last quarter. Finally, Partners Group Holding AG raised its holdings in shares of Brookfield by 53.5% in the 3rd quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock valued at $21,754,000 after acquiring an additional 142,603 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BN. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Scotiabank raised their price objective on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Trading Down 6.0 %

BN stock opened at $55.46 on Thursday. Brookfield Co. has a one year low of $37.77 and a one year high of $62.44. The company has a market capitalization of $91.35 billion, a PE ratio of 118.00 and a beta of 1.55. The company’s 50 day moving average price is $57.05 and its two-hundred day moving average price is $50.19. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.58%. The ex-dividend date is Monday, December 16th. Brookfield’s dividend payout ratio is presently 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.