Brookfield Co. (NYSE:BN) Stock Position Lifted by Carmel Capital Partners LLC

Carmel Capital Partners LLC increased its position in shares of Brookfield Co. (NYSE:BN) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,605 shares of the company’s stock after purchasing an additional 1,754 shares during the period. Brookfield accounts for about 0.9% of Carmel Capital Partners LLC’s investment portfolio, making the stock its 18th largest holding. Carmel Capital Partners LLC’s holdings in Brookfield were worth $2,333,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BN. Baillie Gifford & Co. lifted its position in shares of Brookfield by 809.5% during the 4th quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock valued at $211,159,000 after acquiring an additional 3,271,403 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Brookfield by 31.6% in 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 in the last quarter. Regents of The University of California purchased a new stake in shares of Brookfield in the fourth quarter valued at $154,140,000. Raymond James Financial Inc. purchased a new stake in shares of Brookfield in the fourth quarter valued at $82,795,000. Finally, Toronto Dominion Bank lifted 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 valued at $364,152,000 after purchasing an additional 1,301,072 shares in the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

Shares of NYSE:BN opened at $55.19 on Thursday. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. Brookfield Co. has a 1 year low of $38.18 and a 1 year high of $62.78. The business has a fifty day simple moving average of $58.46 and a 200 day simple moving average of $55.71. The firm has a market cap of $90.84 billion, a price-to-earnings ratio of 183.96 and a beta of 1.57.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping the consensus estimate 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, sell-side analysts predict that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm 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. This represents a $0.36 annualized dividend and a yield of 0.65%. The ex-dividend date is Friday, March 14th. Brookfield’s payout ratio is 120.00%.

Analyst Ratings Changes

A number of research firms have recently issued reports on BN. Morgan Stanley began coverage on Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price for the company. CIBC increased their target price on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a report on Thursday, January 23rd. TD Securities increased 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. BMO Capital Markets restated an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. Finally, Scotiabank increased their price objective on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

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.