Douglass Winthrop Advisors LLC Buys New Stake in Brookfield Co. (NYSE:BN)

Douglass Winthrop Advisors LLC purchased a new position in shares of Brookfield Co. (NYSE:BN) during the third quarter, Holdings Channel reports. The fund purchased 4,299 shares of the company’s stock, valued at approximately $229,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nicholas Hoffman & Company LLC. boosted its holdings in Brookfield by 3.9% in the second quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock valued at $282,000 after purchasing an additional 257 shares during the period. Blue Trust Inc. raised its position in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after purchasing an additional 272 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of Brookfield by 2.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock valued at $551,000 after buying an additional 292 shares during the period. Rosenberg Matthew Hamilton grew its position in shares of Brookfield by 20.6% during the second quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock worth $71,000 after buying an additional 296 shares in the last quarter. Finally, Caprock Group LLC increased its stake in shares of Brookfield by 2.5% during the third quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock worth $655,000 after buying an additional 300 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BN. Scotiabank lifted their price target 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. JPMorgan Chase & Co. lifted their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Royal Bank of Canada dropped their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price target (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Finally, TD Securities upped their price objective on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Stock Up 2.5 %

Brookfield stock opened at $59.71 on Tuesday. The stock has a 50-day simple moving average of $54.55 and a 200-day simple moving average of $48.35. The company has a market capitalization of $98.32 billion, a P/E ratio of 127.03 and a beta of 1.53. 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 Co. has a fifty-two week low of $33.72 and a fifty-two week high of $60.20.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s 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.