K.J. Harrison & Partners Inc Acquires 6,235 Shares of Brookfield Co. (NYSE:BN)

K.J. Harrison & Partners Inc grew its holdings in Brookfield Co. (NYSE:BN) by 9.1% in the 4th quarter, HoldingsChannel reports. The firm owned 74,379 shares of the company’s stock after buying an additional 6,235 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Brookfield were worth $4,276,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Baillie Gifford & Co. raised its stake in Brookfield by 809.5% in the fourth quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock worth $211,159,000 after buying an additional 3,271,403 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Brookfield by 31.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after acquiring an additional 2,818,716 shares during the period. Toronto Dominion Bank raised its position in shares of Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after acquiring an additional 1,301,072 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Brookfield by 6.2% in 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. Finally, Bamco Inc. NY lifted its stake in shares of Brookfield by 62.6% during the 3rd quarter. Bamco Inc. NY now owns 1,949,472 shares of the company’s stock worth $103,614,000 after purchasing an additional 750,726 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE BN opened at $57.66 on Thursday. 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 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. The firm has a market cap of $94.92 billion, a P/E ratio of 192.21 and a beta of 1.57. The business’s 50 day moving average price is $58.53 and its 200 day moving average price is $55.36.

Brookfield (NYSE:BN) last posted its quarterly earnings results 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 0.75% and a return on equity of 3.93%. On average, sell-side analysts expect that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

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 given a $0.09 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.62%. Brookfield’s dividend payout ratio is presently 120.00%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley initiated coverage on shares of Brookfield in a report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price for the company. BMO Capital Markets reiterated an “outperform” rating and set a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research note on Friday, November 15th. 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. TD Securities upped their price target on Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, CIBC increased their price objective on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a report on Thursday, January 23rd. 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

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.