Canvas Wealth Advisors LLC Makes New Investment in Brookfield Co. (NYSE:BN)

Canvas Wealth Advisors LLC bought a new position in shares of Brookfield Co. (NYSE:BN) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,576 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Brookfield by 131.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock worth $24,594,000 after buying an additional 263,375 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Brookfield by 5.7% in the third quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock worth $9,764,000 after purchasing an additional 9,915 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Brookfield by 10.9% in the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after purchasing an additional 591,757 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after purchasing an additional 351,231 shares during the last quarter. Finally, Partners Group Holding AG grew its stake in shares of Brookfield by 53.5% in the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock worth $21,754,000 after purchasing an additional 142,603 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

BN has been the topic of several analyst reports. Scotiabank boosted their price objective on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. CIBC boosted their price objective on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. Morgan Stanley initiated coverage on shares of Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective on the stock. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.50.

Brookfield Stock Performance

Shares of BN opened at $59.42 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $97.79 billion, a P/E ratio of 126.43 and a beta of 1.57. The firm’s fifty day simple moving average is $58.50 and its two-hundred day simple moving average is $54.28. Brookfield Co. has a 12 month low of $38.18 and a 12 month high of $62.78.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.54%. Brookfield’s dividend payout ratio is currently 68.09%.

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.