Klingenstein Fields & Co. LP Sells 2,653 Shares of Brookfield Co. (NYSE:BN)

Klingenstein Fields & Co. LP trimmed its holdings in Brookfield Co. (NYSE:BN) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 468,177 shares of the company’s stock after selling 2,653 shares during the period. Klingenstein Fields & Co. LP’s holdings in Brookfield were worth $26,897,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in BN. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Brookfield by 131.9% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock worth $24,594,000 after purchasing an additional 263,375 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Brookfield by 5.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock valued at $9,764,000 after acquiring an additional 9,915 shares in the last quarter. Geode Capital Management LLC raised its holdings in Brookfield by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after acquiring an additional 591,757 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Brookfield by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock valued at $189,507,000 after acquiring an additional 351,231 shares in the last quarter. Finally, Partners Group Holding AG increased its stake in shares of Brookfield by 53.5% in the 3rd quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock valued at $21,754,000 after purchasing an additional 142,603 shares during the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BN has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target on the stock. Scotiabank boosted their price objective on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. BMO Capital Markets restated an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. TD Securities boosted their price objective on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, CIBC boosted their price objective on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.00.

Brookfield Stock Up 3.0 %

Shares of BN opened at $60.35 on Friday. The company has a market capitalization of $99.33 billion, a PE ratio of 128.41 and a beta of 1.57. Brookfield Co. has a 12 month low of $38.18 and a 12 month high of $62.78. The stock’s 50-day moving average price is $58.42 and its two-hundred day moving average price is $54.43. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40.

Brookfield (NYSE:BN) last announced 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 return on equity of 3.74% and a net margin of 1.00%. On average, analysts anticipate that Brookfield Co. will post 3.83 EPS for the current year.

Brookfield Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s dividend payout ratio is 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.