Beutel Goodman & Co Ltd. Sells 664,279 Shares of Brookfield Co. (NYSE:BN)

Beutel Goodman & Co Ltd. lowered its stake in Brookfield Co. (NYSE:BN) by 10.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,860,619 shares of the company’s stock after selling 664,279 shares during the quarter. Brookfield comprises approximately 1.8% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 22nd largest holding. Beutel Goodman & Co Ltd. owned 0.36% of Brookfield worth $336,673,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Brookfield by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company’s stock worth $3,443,129,000 after buying an additional 974,533 shares during the period. Norges Bank acquired a new position in Brookfield during the fourth quarter valued at approximately $973,591,000. CIBC Asset Management Inc grew its holdings in Brookfield by 6.2% during the fourth quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock valued at $814,585,000 after purchasing an additional 823,428 shares during the period. EdgePoint Investment Group Inc. raised its holdings in Brookfield by 1.7% in the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after purchasing an additional 196,790 shares during the period. Finally, Toronto Dominion Bank boosted its position in shares of Brookfield by 23.4% during the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after purchasing an additional 1,301,072 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Stock Down 4.4 %

Shares of Brookfield stock opened at $51.77 on Friday. Brookfield Co. has a 52-week low of $38.18 and a 52-week high of $62.78. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21. The business’s 50 day simple moving average is $56.83 and its 200 day simple moving average is $56.15. The firm has a market cap of $85.25 billion, a PE ratio of 172.57 and a beta of 1.65.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping 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%. On average, analysts predict that Brookfield Co. will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Friday, March 14th. Brookfield’s payout ratio is 120.00%.

Analyst Upgrades and Downgrades

BN has been the subject of a number of recent analyst reports. Scotiabank upped their price objective on shares of Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research report on Monday, February 3rd. Morgan Stanley started coverage on Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price target on the stock. CIBC boosted their price objective on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. Finally, TD Securities increased their target price on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and a consensus target price of $64.00.

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.