Cooke & Bieler LP Sells 945,538 Shares of Brookfield Co. (NYSE:BN)

Cooke & Bieler LP reduced its holdings in Brookfield Co. (NYSE:BN) by 19.7% in the 4th quarter, Holdings Channel reports. The fund owned 3,851,538 shares of the company’s stock after selling 945,538 shares during the quarter. Brookfield accounts for 2.1% of Cooke & Bieler LP’s portfolio, making the stock its 11th biggest position. Cooke & Bieler LP’s holdings in Brookfield were worth $221,271,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Baillie Gifford & Co. grew 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 valued at $211,159,000 after purchasing an additional 3,271,403 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Brookfield by 31.6% in 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. Regents of The University of California bought a new position in Brookfield in the fourth quarter valued at approximately $154,140,000. Raymond James Financial Inc. bought a new position in Brookfield in the fourth quarter valued at approximately $82,795,000. Finally, Toronto Dominion Bank grew its stake in Brookfield by 23.4% in 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 in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BMO Capital Markets restated an “outperform” rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. CIBC raised their price objective on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. Scotiabank raised their price objective on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research report on Monday, February 3rd. 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 raised their price objective on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Brookfield Trading Down 3.5 %

Shares of BN stock opened at $50.28 on Tuesday. The firm has a market capitalization of $82.77 billion, a P/E ratio of 167.62 and a beta of 1.65. Brookfield Co. has a twelve month low of $38.18 and a twelve month 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 stock’s fifty day simple moving average is $58.11 and its 200 day simple moving average is $55.87.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, sell-side analysts predict that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Friday, March 14th. Brookfield’s dividend payout ratio is 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.