Triasima Portfolio Management inc. Sells 42,080 Shares of Brookfield Co. (NYSE:BN)

Triasima Portfolio Management inc. cut its stake in Brookfield Co. (NYSE:BN) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 387,470 shares of the company’s stock after selling 42,080 shares during the period. Brookfield makes up 4.3% of Triasima Portfolio Management inc.’s holdings, making the stock its 2nd largest position. Triasima Portfolio Management inc.’s holdings in Brookfield were worth $22,259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BN. The Manufacturers Life Insurance Company boosted its position in shares of Brookfield by 31.6% during the third 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 period. EdgePoint Investment Group Inc. grew its stake in shares of Brookfield by 1.7% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after acquiring an additional 196,790 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Brookfield by 23.4% in the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after purchasing an additional 1,301,072 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Brookfield by 10.9% in the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after purchasing an additional 591,757 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 valued at $189,507,000 after purchasing an additional 351,231 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 0.7 %

Shares of BN opened at $60.05 on Friday. The firm’s 50 day moving average is $58.58 and its 200-day moving average is $53.99. Brookfield Co. has a 12 month low of $38.18 and a 12 month high of $62.78. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $98.83 billion, a PE ratio of 127.76 and a beta of 1.57.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Monday, December 16th. Brookfield’s payout ratio is currently 68.09%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BN shares. CIBC increased their price objective on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. Morgan Stanley began coverage on shares of Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price on the stock. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. Finally, Scotiabank upped their price target on shares of Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research note on Monday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.28.

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.