Canvas Wealth Advisors LLC Takes Position in Brookfield Co. (NYSE:BN)

Canvas Wealth Advisors LLC acquired a new stake in shares of Brookfield Co. (NYSE:BN) during the 4th quarter, Holdings Channel reports. The firm acquired 3,576 shares of the company’s stock, valued at approximately $205,000.

Several other institutional investors have also recently made changes to their positions in BN. The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield by 31.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after acquiring an additional 2,818,716 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Brookfield by 1.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after acquiring an additional 196,790 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after acquiring an additional 1,301,072 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Brookfield by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after acquiring an additional 591,757 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Brookfield by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after acquiring an additional 351,231 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Ratings Changes

BN has been the topic of a number of analyst reports. Scotiabank upped their target price 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. 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. CIBC upped their price objective on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. Finally, Morgan Stanley assumed coverage on shares of Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $62.50.

Brookfield Trading Down 0.2 %

Shares of BN stock opened at $59.42 on Tuesday. Brookfield Co. has a 52-week low of $38.18 and a 52-week high of $62.78. The company has a 50-day simple moving average of $58.50 and a two-hundred day simple moving average of $54.28. The company has a market capitalization of $97.79 billion, a price-to-earnings ratio of 126.43 and a beta of 1.57. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17.

Brookfield Announces Dividend

The business also recently announced 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. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Monday, December 16th. Brookfield’s dividend payout ratio is currently 68.09%.

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.