Avior Wealth Management LLC Reduces Holdings in Brookfield Co. (NYSE:BN)

Avior Wealth Management LLC trimmed its holdings in shares of Brookfield Co. (NYSE:BN) by 24.5% in the 4th quarter, Holdings Channel reports. The firm owned 21,265 shares of the company’s stock after selling 6,900 shares during the quarter. Avior Wealth Management LLC’s holdings in Brookfield were worth $1,222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Pinnacle Bancorp Inc. lifted its position in shares of Brookfield by 29.5% during the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock worth $56,000 after purchasing an additional 221 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Brookfield by 10.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,579 shares of the company’s stock worth $148,000 after purchasing an additional 245 shares during the last quarter. First Trust Direct Indexing L.P. lifted its position in shares of Brookfield by 2.9% during the third quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock worth $551,000 after purchasing an additional 292 shares during the last quarter. Caprock Group LLC lifted its position in shares of Brookfield by 2.5% during the third quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock worth $655,000 after purchasing an additional 300 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Brookfield by 0.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 113,397 shares of the company’s stock worth $6,027,000 after purchasing an additional 357 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Performance

BN opened at $61.09 on Friday. Brookfield Co. has a 52-week low of $38.18 and a 52-week high of $62.44. 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 market cap of $100.54 billion, a P/E ratio of 129.97 and a beta of 1.56. The firm’s 50-day moving average price is $58.30 and its 200-day moving average price is $53.08.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were issued a $0.08 dividend. The ex-dividend date was Monday, December 16th. This represents a $0.32 annualized dividend and a yield of 0.52%. Brookfield’s dividend payout ratio (DPR) is presently 68.09%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Morgan Stanley assumed coverage on Brookfield in a report on Thursday. They issued an “overweight” rating and a $80.00 price objective for the company. CIBC lifted their price objective on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a report on Thursday. Scotiabank lifted their price objective on Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a report on Friday, November 15th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $62.00 price objective (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.06.

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.