New South Capital Management Inc. Reduces Stock Holdings in Brookfield Co. (NYSE:BN)

New South Capital Management Inc. decreased its position in Brookfield Co. (NYSE:BN) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,045,331 shares of the company’s stock after selling 28,152 shares during the period. Brookfield comprises approximately 2.5% of New South Capital Management Inc.’s portfolio, making the stock its 11th biggest holding. New South Capital Management Inc.’s holdings in Brookfield were worth $60,054,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. Baillie Gifford & Co. lifted its position in shares of Brookfield by 809.5% during the fourth 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 lifted its position 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 worth $623,783,000 after acquiring an additional 2,818,716 shares in the last quarter. Regents of The University of California purchased a new stake in shares of Brookfield during the fourth quarter worth $154,140,000. Toronto Dominion Bank lifted its position in shares of Brookfield by 23.4% during the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after acquiring an additional 1,301,072 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Brookfield by 6.2% during the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock worth $814,585,000 after acquiring an additional 823,428 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on BN. BMO Capital Markets restated an “outperform” rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. TD Securities increased their target price on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley began coverage on Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective on the stock. CIBC increased their price objective on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. Finally, Scotiabank increased their price objective 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 analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Brookfield Stock Up 3.0 %

BN opened at $55.19 on Thursday. The stock has a market cap of $90.84 billion, a PE ratio of 183.96 and a beta of 1.57. 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. The business’s fifty day simple moving average is $58.46 and its 200 day simple moving average is $55.71.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, beating 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 expect that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 0.65%. Brookfield’s dividend payout ratio is presently 120.00%.

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.