Wealthfront Advisers LLC Makes New $3.06 Million Investment in Brookfield Co. (NYSE:BN)

Wealthfront Advisers LLC acquired a new stake in Brookfield Co. (NYSE:BN) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 53,319 shares of the company’s stock, valued at approximately $3,063,000.

A number of other institutional investors have also made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Brookfield by 131.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock valued at $24,594,000 after purchasing an additional 263,375 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Brookfield by 5.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock worth $9,764,000 after purchasing an additional 9,915 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 valued at $320,670,000 after buying an additional 591,757 shares during the last quarter. Charles Schwab Investment Management Inc. grew 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 valued at $189,507,000 after buying an additional 351,231 shares in the last quarter. Finally, Partners Group Holding AG increased its holdings in Brookfield by 53.5% during the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock worth $21,754,000 after buying an additional 142,603 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BN. Scotiabank increased 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, February 3rd. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. CIBC boosted their price target on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday, January 23rd. Morgan Stanley began coverage on Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective for the company. Finally, TD Securities boosted their target price on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Brookfield Price Performance

Shares of NYSE BN opened at $48.63 on Friday. The business’s 50 day moving average is $57.82 and its 200-day moving average is $55.84. The firm has a market cap of $80.05 billion, a P/E ratio of 162.10 and a beta of 1.65. Brookfield Co. has a 1-year low of $38.18 and a 1-year high of $62.78. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40.

Brookfield (NYSE:BN) last released its quarterly earnings results 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 research analysts predict that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, March 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.74%. Brookfield’s dividend payout ratio (DPR) is presently 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.