Laurus Investment Counsel Inc. Makes New $162,000 Investment in Brookfield Co. (NYSE:BN)

Laurus Investment Counsel Inc. bought a new position in shares of Brookfield Co. (NYSE:BN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,050 shares of the company’s stock, valued at approximately $162,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in shares of Brookfield by 19.8% during the second quarter. Franklin Resources Inc. now owns 3,556,506 shares of the company’s stock worth $119,717,000 after purchasing an additional 587,792 shares during the period. Private Trust Co. NA increased its holdings in shares of Brookfield by 30.5% in the 3rd quarter. Private Trust Co. NA now owns 2,055 shares of the company’s stock worth $64,000 after acquiring an additional 480 shares during the period. Salvus Wealth Management LLC increased its holdings in shares of Brookfield by 12.2% in the 3rd quarter. Salvus Wealth Management LLC now owns 110,110 shares of the company’s stock worth $3,443,000 after acquiring an additional 12,007 shares during the period. Eldred Rock Partners LLC acquired a new stake in shares of Brookfield in the 4th quarter worth about $9,868,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Brookfield by 4.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,841,070 shares of the company’s stock worth $182,650,000 after acquiring an additional 273,474 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Stock Performance

NYSE:BN opened at $41.58 on Thursday. Brookfield Co. has a twelve month low of $28.84 and a twelve month high of $43.17. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 1.35. The company has a 50-day moving average of $40.76 and a 200-day moving average of $36.87. The firm has a market cap of $68.21 billion, a price-to-earnings ratio of 67.06 and a beta of 1.49.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.14. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The company had revenue of $24.52 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter last year, the firm posted $1.12 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. Analysts forecast that Brookfield Co. will post 3.75 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th will be given a dividend of $0.08 per share. This is a positive change from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, March 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.77%. Brookfield’s dividend payout ratio (DPR) is 51.61%.

Analysts Set New Price Targets

BN has been the topic of a number of analyst reports. Canaccord Genuity Group increased their price objective on shares of Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a report on Friday, February 9th. BMO Capital Markets increased their price objective on shares of Brookfield from $42.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Scotiabank increased their target price on shares of Brookfield from $49.00 to $50.00 and gave the company a “sector outperform” rating in a research report on Friday, February 9th. CIBC increased their target price on shares of Brookfield from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Finally, TheStreet upgraded shares of Brookfield from a “c” rating to a “b” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.45.

Insider Activity

In other Brookfield news, major shareholder Gp Ltd Bcp sold 3,922,786 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $2.20, for a total value of $8,630,129.20. Following the completion of the transaction, the insider now directly owns 23,352,826 shares in the company, valued at $51,376,217.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Brookfield news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.33, for a total value of $11,330,000.00. Following the completion of the transaction, the director now directly owns 15,492,168 shares in the company, valued at $175,526,263.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Gp Ltd Bcp sold 3,922,786 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $2.20, for a total transaction of $8,630,129.20. Following the completion of the transaction, the insider now owns 23,352,826 shares of the company’s stock, valued at $51,376,217.20. The disclosure for this sale can be found here. Insiders own 11.00% of the company’s stock.

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.