Brookfield Co. (NYSE:BN) Stake Lowered by Bristol Gate Capital Partners Inc.

Bristol Gate Capital Partners Inc. lowered its stake in shares of Brookfield Co. (NYSE:BN) by 22.3% in the fourth quarter, HoldingsChannel reports. The firm owned 21,627 shares of the company’s stock after selling 6,197 shares during the quarter. Brookfield makes up approximately 0.1% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 24th largest holding. Bristol Gate Capital Partners Inc.’s holdings in Brookfield were worth $1,242,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Brookfield by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company’s stock worth $3,443,129,000 after acquiring an additional 974,533 shares during the period. Norges Bank acquired a new stake in Brookfield in the fourth quarter worth about $973,591,000. CIBC Asset Management Inc boosted its holdings in shares of Brookfield by 6.2% in the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock valued at $814,585,000 after acquiring an additional 823,428 shares in the last quarter. Geode Capital Management LLC boosted its stake in Brookfield by 32.0% during the 4th quarter. Geode Capital Management LLC now owns 7,960,098 shares of the company’s stock valued at $460,489,000 after purchasing an additional 1,930,218 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in Brookfield by 23.4% during the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after acquiring an additional 1,301,072 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

NYSE BN opened at $46.23 on Monday. The stock has a market capitalization of $76.13 billion, a PE ratio of 154.12 and a beta of 1.60. The company has a 50 day moving average price of $56.03 and a two-hundred day moving average price of $56.33. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. Brookfield Co. has a 12-month low of $38.18 and a 12-month high of $62.78.

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

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.09 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.78%. Brookfield’s dividend payout ratio is currently 120.00%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BN. Morgan Stanley started coverage on shares of Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target on the stock. Scotiabank upped their target price on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a report on Monday, February 3rd. CIBC upped their price objective on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. Finally, TD Securities upped their price target on shares of Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

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.