Parkside Investments LLC Sells 5,162 Shares of Brookfield Co. (NYSE:BN)

Parkside Investments LLC cut its stake in Brookfield Co. (NYSE:BN) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 200,863 shares of the company’s stock after selling 5,162 shares during the period. Brookfield comprises approximately 1.7% of Parkside Investments LLC’s holdings, making the stock its 15th largest holding. Parkside Investments LLC’s holdings in Brookfield were worth $11,540,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BN. Union Bancaire Privee UBP SA bought a new position in Brookfield during the 4th quarter valued at about $57,000. Blue Trust Inc. raised its stake in shares of Brookfield by 21.0% in the fourth quarter. Blue Trust Inc. now owns 2,375 shares of the company’s stock valued at $126,000 after acquiring an additional 412 shares during the last quarter. PFG Investments LLC raised its stake in shares of Brookfield by 3.5% in the fourth quarter. PFG Investments LLC now owns 10,379 shares of the company’s stock valued at $596,000 after acquiring an additional 350 shares during the last quarter. Guerra Pan Advisors LLC bought a new stake in Brookfield during the 4th quarter worth approximately $321,000. Finally, Flagship Harbor Advisors LLC grew its position in Brookfield by 73.6% during the 4th quarter. Flagship Harbor Advisors LLC now owns 9,535 shares of the company’s stock worth $548,000 after acquiring an additional 4,044 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 2.5 %

Shares of NYSE:BN opened at $61.09 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. The stock has a market cap of $100.54 billion, a price-to-earnings ratio of 129.97 and a beta of 1.56. The company has a 50 day moving average of $58.30 and a 200-day moving average of $53.22. Brookfield Co. has a one year low of $38.18 and a one year high of $62.44.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, December 16th. Brookfield’s payout ratio is 68.09%.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of recent analyst reports. Morgan Stanley began coverage on Brookfield in a research note on Thursday. They issued an “overweight” rating and a $80.00 price objective on the stock. CIBC upped their price target on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday. Scotiabank raised their price objective on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.06.

Brookfield 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.