Schwartz Investment Counsel Inc. Sells 1,500 Shares of Brookfield Co. (NYSE:BN)

Schwartz Investment Counsel Inc. trimmed its holdings in shares of Brookfield Co. (NYSE:BN) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 336,220 shares of the company’s stock after selling 1,500 shares during the period. Schwartz Investment Counsel Inc.’s holdings in Brookfield were worth $19,316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. First Personal Financial Services bought a new position in Brookfield in the 3rd quarter worth approximately $42,000. FSA Wealth Management LLC purchased a new stake in shares of Brookfield in the third quarter worth about $42,000. Prestige Wealth Management Group LLC boosted its position in shares of Brookfield by 137.0% in the third quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after acquiring an additional 500 shares during the period. Continuum Advisory LLC purchased a new position in Brookfield during the third quarter valued at approximately $55,000. Finally, Pinnacle Bancorp Inc. increased its holdings in Brookfield by 29.5% during the 4th quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock worth $56,000 after acquiring an additional 221 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BN has been the subject of several analyst reports. CIBC raised their price target on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a report on Thursday, January 23rd. Morgan Stanley assumed coverage on Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target on the stock. BMO Capital Markets reissued an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. TD Securities lifted their target price on shares of Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Scotiabank lifted their price objective 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. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.00.

Brookfield Stock Down 1.2 %

BN opened at $58.67 on Wednesday. Brookfield Co. has a 12 month low of $38.18 and a 12 month high of $62.78. 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 business’s 50-day moving average price is $58.46 and its 200-day moving average price is $54.36. The company has a market cap of $96.57 billion, a P/E ratio of 124.84 and a beta of 1.57.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Monday, December 16th. Brookfield’s payout ratio is 68.09%.

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.