King Luther Capital Management Corp Purchases 722 Shares of Brookfield Co. (NYSE:BN)

King Luther Capital Management Corp increased its position in shares of Brookfield Co. (NYSE:BN) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,302 shares of the company’s stock after acquiring an additional 722 shares during the quarter. King Luther Capital Management Corp’s holdings in Brookfield were worth $5,935,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BN. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Brookfield by 131.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock worth $24,594,000 after purchasing an additional 263,375 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Brookfield by 5.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock valued at $9,764,000 after buying an additional 9,915 shares in the last quarter. Geode Capital Management LLC raised its stake in Brookfield by 10.9% in the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after buying an additional 591,757 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after acquiring an additional 351,231 shares in the last quarter. Finally, Partners Group Holding AG grew its stake in shares of Brookfield by 53.5% during the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock worth $21,754,000 after acquiring an additional 142,603 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on BN. TD Securities increased their price objective on shares of Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Scotiabank raised their price target on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. Morgan Stanley assumed coverage on shares of Brookfield in a report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective on the stock. CIBC upped their target price on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and an average price target of $64.00.

Brookfield Price Performance

BN stock opened at $49.85 on Wednesday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09. The business has a 50 day simple moving average of $57.96 and a 200-day simple moving average of $55.88. The firm has a market capitalization of $82.06 billion, a PE ratio of 166.18 and a beta of 1.65. Brookfield Co. has a 1 year low of $38.18 and a 1 year high of $62.78.

Brookfield (NYSE:BN) last announced its quarterly earnings data 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%. Equities research analysts anticipate that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

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