Canandaigua National Trust Co of Florida Invests $368,000 in Brookfield Co. (NYSE:BN)

Canandaigua National Trust Co of Florida purchased a new stake in Brookfield Co. (NYSE:BN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,412 shares of the company’s stock, valued at approximately $368,000.

A number of other hedge funds have also recently bought and sold shares of the business. First Trust Direct Indexing L.P. grew its position in shares of 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 buying an additional 292 shares during the last quarter. Caprock Group LLC grew its holdings in shares of 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 purchasing an additional 300 shares during the last quarter. Huntington National Bank raised its position in shares of Brookfield by 8.8% during the 3rd quarter. Huntington National Bank now owns 5,445 shares of the company’s stock worth $289,000 after purchasing an additional 439 shares during the period. Prestige Wealth Management Group LLC lifted its holdings in shares of Brookfield by 137.0% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock worth $46,000 after purchasing an additional 500 shares during the last quarter. Finally, Guardian Wealth Management Inc. grew its stake in Brookfield by 1.0% during the 3rd quarter. Guardian Wealth Management Inc. now owns 57,912 shares of the company’s stock worth $3,078,000 after buying an additional 564 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BN shares. Scotiabank lifted their price objective on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday, November 15th. BMO Capital Markets reiterated an “outperform” rating and set a $62.00 price objective (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $55.31.

Brookfield Price Performance

NYSE BN traded down $0.46 on Monday, reaching $57.34. The company’s stock had a trading volume of 2,745,728 shares, compared to its average volume of 2,117,096. Brookfield Co. has a twelve month low of $37.79 and a twelve month high of $62.44. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The firm’s 50 day moving average is $57.74 and its two-hundred day moving average is $51.55. The stock has a market cap of $86.50 billion, a PE ratio of 122.00 and a beta of 1.56.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Monday, December 16th. Brookfield’s payout ratio is 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.