Pitcairn Co. Increases Position in Brookfield Co. (NYSE:BN)

by · The Markets Daily

Pitcairn Co. lifted its stake in Brookfield Co. (NYSE:BN – Free Report) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,444 shares of the company’s stock after acquiring an additional 2,327 shares during the period. Pitcairn Co.’s holdings in Brookfield were worth $1,634,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Haverford Trust Co grew its stake in shares of Brookfield by 4.7% during the fourth quarter. Haverford Trust Co now owns 4,308 shares of the company’s stock worth $247,000 after acquiring an additional 192 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in Brookfield by 1.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company’s stock worth $955,000 after purchasing an additional 197 shares in the last quarter. Pittenger & Anderson Inc. grew its position in Brookfield by 14.9% during the 4th quarter. Pittenger & Anderson Inc. now owns 1,563 shares of the company’s stock worth $90,000 after purchasing an additional 203 shares during the last quarter. Pinnacle Bancorp Inc. increased its stake in Brookfield by 29.5% during the 4th quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after purchasing an additional 221 shares in the last quarter. Finally, Citizens Financial Group Inc. RI raised its holdings in shares of Brookfield by 5.8% in the fourth quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company’s stock worth $250,000 after buying an additional 240 shares during the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Stock Down 7.5 %

Shares of BN stock opened at $50.33 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.09 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 stock has a 50 day moving average of $56.33 and a 200 day moving average of $56.27. The stock has a market cap of $82.87 billion, a P/E ratio of 167.76 and a beta of 1.65.

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

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Friday, March 14th. Brookfield’s payout ratio is currently 120.00%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. CIBC boosted their price objective on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a report on Thursday, January 23rd. Scotiabank increased their price objective on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a report on Monday, February 3rd. Morgan Stanley assumed coverage on Brookfield in a report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 target price for the company. Finally, TD Securities raised their price target on shares of Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and an average target price of $64.00.

Get Our Latest Stock Report on Brookfield

Brookfield Company Profile

(Free Report)

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.

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