Addenda Capital Inc. Has $104.67 Million Stake in Brookfield Co. (NYSE:BN)

Addenda Capital Inc. trimmed its holdings in shares of Brookfield Co. (NYSE:BN) by 3.2% during the fourth quarter, HoldingsChannel reports. The firm owned 1,821,935 shares of the company’s stock after selling 59,731 shares during the quarter. Brookfield accounts for about 4.8% of Addenda Capital Inc.’s investment portfolio, making the stock its biggest holding. Addenda Capital Inc.’s holdings in Brookfield were worth $104,670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in BN. First Personal Financial Services purchased a new position in Brookfield in the third quarter valued at approximately $42,000. FSA Wealth Management LLC purchased a new position in shares of Brookfield during the 3rd quarter valued at $42,000. Prestige Wealth Management Group LLC grew its stake in shares of Brookfield by 137.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock worth $46,000 after acquiring an additional 500 shares during the period. Continuum Advisory LLC purchased a new stake in Brookfield in the 3rd quarter worth about $55,000. Finally, Pinnacle Bancorp Inc. raised its stake in Brookfield by 29.5% in the 4th quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after acquiring an additional 221 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on BN shares. Scotiabank increased their target price on shares of 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 reaffirmed an “outperform” rating and issued a $62.00 price objective (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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Stock Performance

NYSE BN opened at $58.16 on Tuesday. The company’s 50 day simple moving average is $58.12 and its two-hundred day simple moving average is $52.75. The stock has a market capitalization of $87.73 billion, a PE ratio of 123.75 and a beta of 1.56. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. Brookfield Co. has a 1 year low of $38.18 and a 1 year high of $62.44.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.55%. The ex-dividend date was Monday, December 16th. Brookfield’s payout ratio 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.