Brookfield Co. (NYSE:BN) Stock Holdings Decreased by Cannell & Spears LLC

Cannell & Spears LLC cut its stake in shares of Brookfield Co. (NYSE:BN) by 2.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,986,587 shares of the company’s stock after selling 59,318 shares during the period. Brookfield makes up 2.4% of Cannell & Spears LLC’s portfolio, making the stock its 6th largest holding. Cannell & Spears LLC’s holdings in Brookfield were worth $114,129,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BN. Thrivent Financial for Lutherans purchased a new position in Brookfield during the 3rd quarter worth $223,000. PEAK6 Investments LLC raised its holdings in Brookfield by 181.1% during the third quarter. PEAK6 Investments LLC now owns 13,971 shares of the company’s stock worth $743,000 after purchasing an additional 9,001 shares in the last quarter. Verition Fund Management LLC lifted its position in Brookfield by 216.3% in the third quarter. Verition Fund Management LLC now owns 47,617 shares of the company’s stock valued at $2,531,000 after purchasing an additional 32,564 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Brookfield by 131.9% in 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 in the last quarter. Finally, Cobblestone Capital Advisors LLC NY increased its position in Brookfield by 0.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 479,202 shares of the company’s stock worth $25,470,000 after purchasing an additional 2,159 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. CIBC raised their price target on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a report on Thursday, January 23rd. TD Securities raised their target price on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Morgan Stanley assumed coverage on shares of Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price target on the stock. Finally, Scotiabank boosted their price objective 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 equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Brookfield has an average rating of “Moderate Buy” and an average price target of $64.00.

Brookfield Price Performance

Shares of NYSE BN opened at $51.77 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. The stock has a market cap of $85.25 billion, a price-to-earnings ratio of 172.57 and a beta of 1.65. The company’s 50-day moving average price is $56.83 and its 200 day moving average price is $56.27. Brookfield Co. has a 52 week low of $38.18 and a 52 week high of $62.78.

Brookfield (NYSE:BN) last issued its quarterly earnings data 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%. As a group, research analysts forecast that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Friday, March 14th. Brookfield’s payout ratio is currently 120.00%.

Brookfield Company 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.