Gateway Investment Advisers LLC Lowers Holdings in Brookfield Co. (NYSE:BN)

Gateway Investment Advisers LLC lessened its stake in Brookfield Co. (NYSE:BN) by 31.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,804 shares of the company’s stock after selling 46,454 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Brookfield were worth $5,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its position in Brookfield by 31.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after buying an additional 2,818,716 shares during the last quarter. EdgePoint Investment Group Inc. raised its position in Brookfield by 1.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after buying an additional 196,790 shares during the last quarter. Toronto Dominion Bank raised its position in Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after buying an additional 1,301,072 shares during the last quarter. Geode Capital Management LLC raised its position in Brookfield by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after buying an additional 591,757 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position 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 worth $189,507,000 after buying an additional 351,231 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BN. Scotiabank boosted their target price on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 15th. BMO Capital Markets reissued an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Price Performance

NYSE BN opened at $57.51 on Friday. Brookfield Co. has a 52 week low of $37.79 and a 52 week high of $62.44. The firm has a market capitalization of $86.75 billion, a P/E ratio of 122.36 and a beta of 1.56. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. The company has a 50-day moving average price of $58.11 and a 200-day moving average price of $52.34.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. Brookfield’s dividend payout ratio (DPR) is presently 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.