Tritonpoint Wealth LLC Has $2.86 Million Holdings in Brookfield Co. (NYSE:BN)

Tritonpoint Wealth LLC decreased its stake in shares of Brookfield Co. (NYSE:BN) by 1.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,770 shares of the company’s stock after selling 615 shares during the period. Tritonpoint Wealth LLC’s holdings in Brookfield were worth $2,859,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BN. The Manufacturers Life Insurance Company raised its stake in shares of Brookfield by 31.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after purchasing an additional 2,818,716 shares during the period. EdgePoint Investment Group Inc. grew its holdings in shares of Brookfield by 1.7% during the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after buying an additional 196,790 shares in the last quarter. Toronto Dominion Bank raised its position in Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after buying an additional 1,301,072 shares during the last quarter. Geode Capital Management LLC lifted its stake in Brookfield by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after acquiring an additional 591,757 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Brookfield by 10.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after acquiring an additional 351,231 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of recent research reports. CIBC lifted their price objective on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a report on Thursday, January 23rd. Scotiabank lifted their price target on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research note on Friday, November 15th. BMO Capital Markets restated an “outperform” rating and set a $62.00 price objective (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Finally, Morgan Stanley started coverage on Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $60.06.

Brookfield Trading Down 1.4 %

Brookfield stock opened at $61.20 on Friday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The stock has a 50-day simple moving average of $58.68 and a 200 day simple moving average of $53.68. The stock has a market capitalization of $100.73 billion, a P/E ratio of 130.22 and a beta of 1.56. Brookfield Co. has a 52 week low of $38.18 and a 52 week high of $62.78.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 dividend yield of 0.52%. The ex-dividend date was Monday, December 16th. Brookfield’s payout ratio is presently 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.