Lingotto Investment Management LLP Invests $7.82 Million in Brookfield Co. (NYSE:BN)

Lingotto Investment Management LLP bought a new stake in shares of Brookfield Co. (NYSE:BN) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 136,104 shares of the company’s stock, valued at approximately $7,819,000.

Other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc raised its holdings in shares of Brookfield by 6.2% during the 4th quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock worth $814,585,000 after acquiring an additional 823,428 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Brookfield by 31.6% during the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after purchasing an additional 2,818,716 shares in the last quarter. EdgePoint Investment Group Inc. raised its stake in Brookfield by 1.7% during the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after purchasing an additional 196,790 shares in the last quarter. Toronto Dominion Bank lifted its position in Brookfield by 23.4% during 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. Finally, Geode Capital Management LLC grew its stake in shares of Brookfield by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after buying an additional 591,757 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BN. TD Securities upped their target price on shares of Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley assumed coverage on Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective on the stock. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. CIBC increased their price target on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a report on Thursday, January 23rd. Finally, Scotiabank lifted their price objective on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $64.00.

Brookfield Trading Down 0.5 %

NYSE:BN opened at $57.63 on Wednesday. The firm has a 50-day simple moving average of $58.49 and a 200-day simple moving average of $55.34. Brookfield Co. has a one year low of $38.18 and a one year high of $62.78. The firm has a market cap of $94.86 billion, a P/E ratio of 192.09 and a beta of 1.57. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.09 and a current ratio of 1.21.

Brookfield (NYSE:BN) last issued 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%. Equities analysts anticipate that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Friday, March 14th. Brookfield’s payout ratio is currently 120.00%.

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.