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

Schwartz Investment Counsel Inc. cut its holdings in shares of Brookfield Co. (NYSE:BN) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. First Personal Financial Services acquired a new position in shares of Brookfield in the 3rd quarter worth approximately $42,000. FSA Wealth Management LLC bought a new position in shares of Brookfield in the 3rd quarter worth about $42,000. Prestige Wealth Management Group LLC lifted its stake 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 valued at $46,000 after purchasing an additional 500 shares during the period. Continuum Advisory LLC acquired a new position in shares of Brookfield in the 3rd quarter valued at about $55,000. Finally, Pinnacle Bancorp Inc. boosted its position in shares of Brookfield by 29.5% during the 4th quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after purchasing an additional 221 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Down 1.2 %

BN stock opened at $58.67 on Wednesday. The stock’s 50 day moving average is $58.46 and its 200-day moving average is $54.36. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.78. The firm has a market capitalization of $96.57 billion, a PE ratio of 124.84 and a beta of 1.57. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 0.55%. The ex-dividend date was Monday, December 16th. Brookfield’s dividend payout ratio is 68.09%.

Analyst Ratings Changes

A number of brokerages have weighed in on BN. TD Securities lifted their target price on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday. CIBC boosted their target price on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. Morgan Stanley initiated coverage on shares of Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target for the company. Scotiabank increased their price objective on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

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.