Hi Line Capital Management LLC Trims Stake in Brookfield Co. (NYSE:BN)

Hi Line Capital Management LLC cut its holdings in Brookfield Co. (NYSE:BN) by 16.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 210,778 shares of the company’s stock after selling 42,345 shares during the period. Brookfield comprises about 5.3% of Hi Line Capital Management LLC’s holdings, making the stock its 3rd largest holding. Hi Line Capital Management LLC’s holdings in Brookfield were worth $12,109,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

BN has been the topic of several analyst reports. Morgan Stanley initiated coverage on shares of Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price on the stock. CIBC increased their target price on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a report on Thursday, January 23rd. Scotiabank raised 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. BMO Capital Markets restated an “outperform” rating and set a $62.00 price objective (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Finally, TD Securities raised their price objective on shares of Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Brookfield Stock Down 2.3 %

Shares of BN stock opened at $58.68 on Monday. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. Brookfield Co. has a 1 year low of $38.18 and a 1 year high of $62.78. The firm’s fifty day moving average price is $58.54 and its two-hundred day moving average price is $55.16. The firm has a market capitalization of $96.59 billion, a P/E ratio of 195.60 and a beta of 1.57.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a net margin of 0.75% and a return on equity of 3.93%. On average, equities analysts predict that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s dividend payout ratio (DPR) is presently 106.67%.

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.