Baillie Gifford & Co. Increases Stake in Brookfield Co. (NYSE:BN)

Baillie Gifford & Co. raised its holdings in shares of Brookfield Co. (NYSE:BN) by 809.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,675,524 shares of the company’s stock after acquiring an additional 3,271,403 shares during the period. Baillie Gifford & Co.’s holdings in Brookfield were worth $211,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its stake in shares of Brookfield by 31.6% in the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after purchasing an additional 2,818,716 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in shares of 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 in the last quarter. Toronto Dominion Bank increased its stake 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 worth $364,152,000 after purchasing an additional 1,301,072 shares in the last quarter. Geode Capital Management LLC increased its stake 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. increased its stake in shares of Brookfield by 10.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after purchasing an additional 351,231 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BN has been the subject of a number of analyst reports. TD Securities increased their price objective on shares of Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. CIBC raised their target price on shares of Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research note on Thursday, January 23rd. Morgan Stanley initiated coverage on shares of Brookfield in a research note on Thursday, January 23rd. They set an “overweight” rating and a $80.00 target price for the company. Scotiabank raised their target price on shares of Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research note on Monday, February 3rd. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $64.00.

Brookfield Price Performance

BN stock opened at $60.88 on Monday. Brookfield Co. has a 52 week low of $38.18 and a 52 week high of $62.78. 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 fifty day simple moving average of $58.44 and a two-hundred day simple moving average of $54.61. The firm has a market capitalization of $100.20 billion, a P/E ratio of 129.53 and a beta of 1.57.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, February 13th. The company reported $1.01 EPS for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a net margin of 1.00% and a return on equity of 3.74%. Analysts anticipate that Brookfield Co. will post 3.83 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.59%. Brookfield’s dividend payout ratio (DPR) is currently 68.09%.

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.