Nexus Investment Management ULC Has $1.60 Million Stake in Brookfield Co. (NYSE:BN)

Nexus Investment Management ULC lessened its stake in shares of Brookfield Co. (NYSE:BN) by 4.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,901 shares of the company’s stock after selling 1,315 shares during the period. Nexus Investment Management ULC’s holdings in Brookfield were worth $1,600,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BN. The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield by 31.6% during the third 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. increased its position in Brookfield by 1.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after buying an additional 196,790 shares in the last quarter. Toronto Dominion Bank raised its stake in Brookfield by 23.4% during the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after buying an additional 1,301,072 shares during the period. Geode Capital Management LLC boosted its holdings in 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 acquiring an additional 591,757 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock valued at $189,507,000 after acquiring an additional 351,231 shares during the period. 61.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of recent research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Scotiabank raised their price objective 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Stock Up 1.0 %

BN opened at $58.16 on Friday. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week 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. The company’s 50-day moving average is $58.13 and its 200 day moving average is $52.57. The firm has a market capitalization of $87.73 billion, a P/E ratio of 123.75 and a beta of 1.56.

Brookfield Dividend Announcement

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