Connor Clark & Lunn Investment Management Ltd. Acquires 668,630 Shares of Brookfield Co. (NYSE:BN)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Brookfield Co. (NYSE:BN) by 11.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,507,113 shares of the company’s stock after buying an additional 668,630 shares during the quarter. Brookfield comprises approximately 1.7% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 10th largest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Brookfield were worth $373,527,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Compass Planning Associates Inc acquired a new position in Brookfield during the 4th quarter worth $30,000. FSA Wealth Management LLC bought a new stake in shares of Brookfield during the third quarter worth $42,000. Prestige Wealth Management Group LLC lifted its stake in shares of Brookfield by 137.0% during the third quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after acquiring an additional 500 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in Brookfield in the fourth quarter valued at about $48,000. Finally, Continuum Advisory LLC acquired a new stake in Brookfield in the third quarter worth about $55,000. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

Shares of BN stock opened at $49.85 on Wednesday. The firm has a market capitalization of $82.06 billion, a price-to-earnings ratio of 166.18 and a beta of 1.65. Brookfield Co. has a 12-month low of $38.18 and a 12-month high of $62.78. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. The firm has a fifty day moving average of $57.96 and a 200-day moving average of $55.88.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) 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, equities research analysts forecast that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Friday, March 14th. Brookfield’s payout ratio is currently 120.00%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. CIBC upped their target price on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price objective (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. TD Securities lifted their target price on shares of Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Scotiabank increased their price target on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. Finally, Morgan Stanley assumed coverage on Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Brookfield has a consensus rating of “Moderate Buy” and an average target price of $64.00.

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.