Caisse DE Depot ET Placement DU Quebec Sells 341,285 Shares of Brookfield Co. (NYSE:BN)

Caisse DE Depot ET Placement DU Quebec decreased its stake in shares of Brookfield Co. (NYSE:BN) by 13.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,174,000 shares of the company’s stock after selling 341,285 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.13% of Brookfield worth $115,592,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in shares of Brookfield by 5.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock valued at $9,764,000 after purchasing an additional 9,915 shares during the period. Cetera Investment Advisers raised its position in Brookfield by 1,022.6% in the 1st quarter. Cetera Investment Advisers now owns 272,807 shares of the company’s stock valued at $11,427,000 after buying an additional 248,506 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Brookfield by 10.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock valued at $189,507,000 after acquiring an additional 351,231 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Brookfield by 324.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 105,678 shares of the company’s stock worth $4,390,000 after acquiring an additional 80,762 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Brookfield by 31.6% during the 3rd 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. 61.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BN shares. Keefe, Bruyette & Woods increased their target price on shares of Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. Scotiabank increased their price objective on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. Royal Bank of Canada lowered their target price on Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Finally, TD Securities boosted their price target on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Brookfield has an average rating of “Moderate Buy” and a consensus target price of $55.31.

Brookfield Stock Performance

BN opened at $61.37 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. Brookfield Co. has a 12-month low of $34.97 and a 12-month high of $61.77. The business has a 50 day moving average of $55.15 and a 200-day moving average of $48.64. The stock has a market cap of $101.06 billion, a price-to-earnings ratio of 130.58 and a beta of 1.53.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s dividend 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.