Triangle Securities Wealth Management Acquires 9,048 Shares of Brookfield Co. (NYSE:BN)

Triangle Securities Wealth Management raised its stake in shares of Brookfield Co. (NYSE:BN) by 11.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,137 shares of the company’s stock after buying an additional 9,048 shares during the quarter. Brookfield comprises approximately 1.3% of Triangle Securities Wealth Management’s holdings, making the stock its 18th largest position. Triangle Securities Wealth Management’s holdings in Brookfield were worth $5,178,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. First Personal Financial Services bought a new stake in Brookfield in the 3rd quarter worth approximately $42,000. FSA Wealth Management LLC purchased a new position in shares of Brookfield in the third quarter valued at $42,000. Prestige Wealth Management Group LLC grew its holdings in shares of Brookfield by 137.0% in the third 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 in the last quarter. Continuum Advisory LLC bought a new stake in Brookfield in the third quarter worth $55,000. Finally, Pinnacle Bancorp Inc. raised its stake in Brookfield by 29.5% during the fourth 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. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Trading Up 1.0 %

Shares of NYSE BN opened at $58.16 on Friday. The stock has a market capitalization of $87.73 billion, a P/E ratio of 123.75 and a beta of 1.56. The business has a fifty day moving average price of $58.13 and a 200 day moving average price of $52.57. Brookfield Co. has a 1-year low of $38.18 and a 1-year high of $62.44. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a dividend of $0.08 per share. The ex-dividend date was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.55%. Brookfield’s payout ratio is 68.09%.

Analysts Set New Price Targets

Several research firms have recently issued reports on BN. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price objective (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. 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 report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.31.

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.