Nexus Investment Management ULC Decreases Holdings in Brookfield Co. (NYSE:BN)

Nexus Investment Management ULC trimmed its stake in Brookfield Co. (NYSE:BN) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,901 shares of the company’s stock after selling 1,315 shares during the quarter. Nexus Investment Management ULC’s holdings in Brookfield were worth $1,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in Brookfield by 11.1% during the second quarter. American Century Companies Inc. now owns 63,788 shares of the company’s stock valued at $2,653,000 after purchasing an additional 6,389 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Brookfield by 21.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 29,577 shares of the company’s stock worth $1,229,000 after acquiring an additional 5,248 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings in Brookfield by 20.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 37,599 shares of the company’s stock worth $1,562,000 after acquiring an additional 6,394 shares during the last quarter. Hsbc Holdings PLC raised its stake in Brookfield by 124.1% in the 2nd quarter. Hsbc Holdings PLC now owns 1,262,139 shares of the company’s stock valued at $52,246,000 after acquiring an additional 698,810 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in Brookfield by 6.0% during the second quarter. Intech Investment Management LLC now owns 68,440 shares of the company’s stock valued at $2,846,000 after purchasing an additional 3,849 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

Shares of NYSE:BN opened at $58.16 on Friday. The company has a 50 day moving average of $58.13 and a 200 day moving average of $52.57. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. The stock has a market cap of $87.73 billion, a P/E ratio of 123.75 and a beta of 1.56. Brookfield Co. has a 12 month low of $38.18 and a 12 month high of $62.44.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.55%. Brookfield’s dividend payout ratio (DPR) is currently 68.09%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BN shares. Scotiabank lifted their target price on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price objective (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and an average target price of $55.31.

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.