Brookfield Co. (NYSE:BN) Shares Purchased by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. lifted its holdings in Brookfield Co. (NYSE:BN) by 0.8% in the fourth quarter, Holdings Channel reports. The firm owned 138,772 shares of the company’s stock after buying an additional 1,045 shares during the period. Brookfield comprises about 2.3% of Lorne Steinberg Wealth Management Inc.’s portfolio, making the stock its 16th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Brookfield were worth $7,968,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in BN. Creative Planning boosted its position in shares of Brookfield by 7.1% in the 3rd quarter. Creative Planning now owns 349,696 shares of the company’s stock worth $18,586,000 after purchasing an additional 23,269 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Brookfield by 178.4% in the 3rd quarter. Blue Trust Inc. now owns 1,963 shares of the company’s stock worth $104,000 after purchasing an additional 1,258 shares in the last quarter. Maple Capital Management Inc. acquired a new stake in Brookfield during the 3rd quarter worth about $280,000. Graybill Wealth Management LTD. lifted its position in Brookfield by 0.6% during the 3rd quarter. Graybill Wealth Management LTD. now owns 137,951 shares of the company’s stock worth $7,332,000 after acquiring an additional 759 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in Brookfield by 4,149.3% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company’s stock valued at $41,263,000 after purchasing an additional 758,076 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on BN. Scotiabank boosted their price target on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. 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 note on Friday, November 15th. TD Securities boosted their price target on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. CIBC boosted their price target on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. Finally, Morgan Stanley began coverage on Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price target on the stock. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Brookfield Stock Performance

Shares of BN stock opened at $61.29 on Wednesday. The stock has a market cap of $100.88 billion, a PE ratio of 130.41 and a beta of 1.57. The business has a 50-day simple moving average of $58.52 and a 200-day simple moving average of $54.82. 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 Co. has a 52-week low of $38.18 and a 52-week high of $62.78.

Brookfield (NYSE:BN) last issued its quarterly earnings data 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 return on equity of 3.74% and a net margin of 1.00%. On average, equities analysts expect that Brookfield Co. will post 3.83 EPS for the current year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.59%. 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.