Lorne Steinberg Wealth Management Inc. Purchases 1,045 Shares of Brookfield Co. (NYSE:BN)

Lorne Steinberg Wealth Management Inc. raised its stake in shares of Brookfield Co. (NYSE:BN) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 138,772 shares of the company’s stock after purchasing an additional 1,045 shares during the period. Brookfield accounts for about 2.3% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 16th biggest position. Lorne Steinberg Wealth Management Inc.’s holdings in Brookfield were worth $7,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CIBC Asset Management Inc raised its position in Brookfield by 6.2% during the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock valued at $814,585,000 after purchasing an additional 823,428 shares during the period. The Manufacturers Life Insurance Company raised its position in Brookfield by 31.6% during 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 period. EdgePoint Investment Group Inc. raised its position in Brookfield by 1.7% during the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after purchasing an additional 196,790 shares during the period. Toronto Dominion Bank raised its holdings 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 period. Finally, Geode Capital Management LLC raised its holdings 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 period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Trading Up 0.6 %

BN opened at $61.29 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $100.88 billion, a P/E ratio of 130.41 and a beta of 1.57. The stock’s fifty day moving average is $58.52 and its two-hundred day moving average is $54.82. Brookfield Co. has a 52 week low of $38.18 and a 52 week high of $62.78.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.74% and a net margin of 1.00%. Analysts forecast that Brookfield Co. will post 3.83 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.59%. Brookfield’s dividend payout ratio (DPR) is presently 68.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. CIBC increased their price target on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a report on Thursday, January 23rd. Scotiabank increased their price target on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. TD Securities increased their price target on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Morgan Stanley assumed coverage on Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target on the stock. One research analyst has 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 company currently has a consensus rating of “Moderate Buy” and an average 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.