Zurcher Kantonalbank Zurich Cantonalbank Buys 19,650 Shares of Brookfield Co. (NYSE:BN)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Brookfield Co. (NYSE:BN) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 523,609 shares of the company’s stock after buying an additional 19,650 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Brookfield were worth $30,080,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Amundi raised its stake in shares of Brookfield by 13.2% in the fourth quarter. Amundi now owns 855,761 shares of the company’s stock worth $49,959,000 after purchasing an additional 99,544 shares during the last quarter. Permanent Capital Management LP purchased a new position in shares of Brookfield in the fourth quarter worth $283,000. PCJ Investment Counsel Ltd. raised its stake in shares of Brookfield by 69.7% in the fourth quarter. PCJ Investment Counsel Ltd. now owns 277,120 shares of the company’s stock worth $15,908,000 after purchasing an additional 113,840 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. raised its stake in shares of Brookfield by 1.1% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,511,750 shares of the company’s stock worth $86,779,000 after purchasing an additional 16,096 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Brookfield in the fourth quarter worth $48,000. Institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. TD Securities upped their price objective on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. CIBC upped 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. Morgan Stanley assumed coverage on Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective for the company. Scotiabank upped their price objective on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research report on Monday, February 3rd. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Brookfield Trading Down 3.5 %

Shares of NYSE BN opened at $50.28 on Tuesday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The business’s 50 day moving average price is $58.11 and its 200-day moving average price is $55.87. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.78. The company has a market cap of $82.77 billion, a price-to-earnings ratio of 167.62 and a beta of 1.65.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. On average, sell-side analysts expect that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.72%. Brookfield’s dividend payout ratio (DPR) is currently 120.00%.

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.