Kovitz Investment Group Partners LLC Sells 2,850 Shares of Brookfield Co. (NYSE:BN)

Kovitz Investment Group Partners LLC reduced its position in shares of Brookfield Co. (NYSE:BN) by 4.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 64,482 shares of the company’s stock after selling 2,850 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Brookfield were worth $3,394,000 at the end of the most recent reporting period.

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

Brookfield Stock Down 0.4 %

Shares of NYSE BN opened at $59.81 on Monday. Brookfield Co. has a 52-week low of $35.51 and a 52-week high of $62.44. The firm has a market capitalization of $98.49 billion, a price-to-earnings ratio of 127.26 and a beta of 1.55. The stock has a 50 day moving average price of $56.11 and a 200 day moving average price of $49.39. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 dividend payout ratio is 68.09%.

Analyst Upgrades and Downgrades

BN has been the subject of several analyst reports. TD Securities raised their target price on shares of Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Scotiabank raised their price objective 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. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 target price (up previously 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 issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.31.

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.