Mattern Wealth Management LLC Sells 170 Shares of Brookfield Co. (NYSE:BN)

Mattern Wealth Management LLC reduced its position in shares of Brookfield Co. (NYSE:BN) by 1.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,314 shares of the company’s stock after selling 170 shares during the quarter. Mattern Wealth Management LLC’s holdings in Brookfield were worth $593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. increased its position in shares of Brookfield by 29.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after acquiring an additional 221 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in Brookfield by 10.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,579 shares of the company’s stock valued at $148,000 after purchasing an additional 245 shares during the period. First Trust Direct Indexing L.P. raised its position in Brookfield by 2.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock valued at $551,000 after purchasing an additional 292 shares during the last quarter. Caprock Group LLC lifted its holdings in Brookfield by 2.5% in the 3rd 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. Finally, PFG Investments LLC grew its position in shares of Brookfield by 3.5% in the 4th quarter. PFG Investments LLC now owns 10,379 shares of the company’s stock worth $596,000 after buying an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

BN has been the subject of a number of research analyst reports. Scotiabank raised their price target on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. Morgan Stanley initiated coverage on shares of Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price for the company. BMO Capital Markets reiterated an “outperform” rating and set a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Finally, CIBC lifted their price objective on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and an average target price of $60.06.

Brookfield Stock Down 1.6 %

BN stock opened at $60.10 on Tuesday. The business has a 50 day moving average of $58.38 and a 200 day moving average of $53.32. The firm has a market cap of $98.92 billion, a PE ratio of 127.88 and a beta of 1.56. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.44. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, December 16th. Brookfield’s dividend payout ratio is presently 68.09%.

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.