Brown Brothers Harriman & Co. Purchases 1,582 Shares of Brookfield Co. (NYSE:BN)

Brown Brothers Harriman & Co. lifted its position in shares of Brookfield Co. (NYSE:BN) by 4.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,499 shares of the company’s stock after acquiring an additional 1,582 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Brookfield were worth $1,940,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Brookfield by 4.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 109,552 shares of the company’s stock valued at $4,587,000 after acquiring an additional 4,428 shares during the last quarter. Ancora Advisors LLC lifted its stake in Brookfield by 2.8% in the first quarter. Ancora Advisors LLC now owns 45,766 shares of the company’s stock valued at $1,916,000 after buying an additional 1,250 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in Brookfield by 3.7% in the first quarter. B. Riley Wealth Advisors Inc. now owns 20,009 shares of the company’s stock valued at $838,000 after buying an additional 715 shares during the period. Jane Street Group LLC boosted its holdings in Brookfield by 1.9% during the first quarter. Jane Street Group LLC now owns 222,916 shares of the company’s stock worth $9,333,000 after buying an additional 4,103 shares during the last quarter. Finally, Adalta Capital Management LLC grew its position in shares of Brookfield by 1.1% during the 1st quarter. Adalta Capital Management LLC now owns 170,513 shares of the company’s stock worth $7,139,000 after buying an additional 1,842 shares during the period. Institutional investors own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

BN has been the subject of several recent analyst reports. Royal Bank of Canada lowered their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Scotiabank raised their price objective on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. lifted their target price on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. BMO Capital Markets restated 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. Finally, Keefe, Bruyette & Woods lifted their price objective on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Trading Up 2.5 %

NYSE BN opened at $59.71 on Tuesday. The business has a 50 day simple moving average of $54.55 and a 200 day simple moving average of $48.35. The stock has a market capitalization of $98.32 billion, a P/E ratio of 127.03 and a beta of 1.53. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. Brookfield Co. has a one year low of $33.72 and a one year high of $60.20.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.08 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.54%. Brookfield’s payout ratio is 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.