Next Capital Management LLC Purchases Shares of 10,534 Brookfield Co. (NYSE:BN)

Next Capital Management LLC acquired a new stake in shares of Brookfield Co. (NYSE:BN) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 10,534 shares of the company’s stock, valued at approximately $605,000.

A number of other institutional investors have also recently made changes to their positions in BN. Baillie Gifford & Co. raised its holdings in shares of Brookfield by 809.5% during the 4th quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock worth $211,159,000 after acquiring an additional 3,271,403 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Brookfield by 31.6% in the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after purchasing an additional 2,818,716 shares during the last quarter. Regents of The University of California purchased a new stake in Brookfield during the fourth quarter valued at $154,140,000. Raymond James Financial Inc. bought a new position in Brookfield during the fourth quarter valued at $82,795,000. Finally, Toronto Dominion Bank grew its stake in shares of Brookfield by 23.4% in 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 in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

BN opened at $52.19 on Wednesday. The business has a fifty day moving average of $57.28 and a 200 day moving average of $55.91. The stock has a market cap of $85.90 billion, a P/E ratio of 173.96 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 52-week low of $38.18 and a 52-week high of $62.78.

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

Brookfield Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.69%. Brookfield’s dividend payout ratio is currently 120.00%.

Analysts Set New Price Targets

BN has been the subject of a number of analyst reports. Morgan Stanley initiated coverage on shares of Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target for the company. CIBC raised their price objective on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. TD Securities boosted their target price on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Scotiabank raised their price target on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $64.00.

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.