Connor Clark & Lunn Investment Management Ltd. Has $373.53 Million Stake in Brookfield Co. (NYSE:BN)

Connor Clark & Lunn Investment Management Ltd. grew its position in Brookfield Co. (NYSE:BN) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,507,113 shares of the company’s stock after purchasing an additional 668,630 shares during the quarter. Brookfield makes up 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. owned 0.40% of Brookfield worth $373,527,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BN. Compass Planning Associates Inc bought a new position in Brookfield in the 4th quarter worth $30,000. FSA Wealth Management LLC bought a new position in shares of Brookfield in the third quarter worth about $42,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Brookfield during the 4th quarter worth about $48,000. Prestige Wealth Management Group LLC boosted its stake in Brookfield by 137.0% during the 3rd 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 during the period. Finally, Promus Capital LLC acquired a new stake in Brookfield in the 4th quarter valued at approximately $55,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on BN. CIBC upped their price target on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a report on Thursday, January 23rd. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. TD Securities boosted their price objective 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 target price on shares of 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 began coverage on Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Brookfield Stock Performance

NYSE BN opened at $49.85 on Wednesday. The stock has a market cap of $82.06 billion, a P/E ratio of 166.18 and a beta of 1.65. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. Brookfield Co. has a twelve month low of $38.18 and a twelve month high of $62.78. The company’s 50-day simple moving average is $57.96 and its 200 day simple moving average is $55.88.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, research analysts forecast that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

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

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.