Concurrent Investment Advisors LLC Buys New Stake in Brookfield Co. (NYSE:BN)

Concurrent Investment Advisors LLC purchased a new stake in Brookfield Co. (NYSE:BN) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 4,633 shares of the company’s stock, valued at approximately $246,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BN. Blue Trust Inc. raised its stake in shares of Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares during the period. Kings Path Partners LLC bought a new position in Brookfield in the 2nd quarter worth about $31,000. Family Firm Inc. bought a new stake in Brookfield during the 2nd quarter valued at $36,000. Nisa Investment Advisors LLC raised its position in shares of Brookfield by 63.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock worth $48,000 after buying an additional 450 shares in the last quarter. Finally, Asset Dedication LLC acquired a new stake in Brookfield in the second quarter worth approximately $56,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

BN opened at $58.78 on Tuesday. The business has a 50 day moving average of $52.64 and a 200-day moving average of $47.28. The company has a quick ratio of 1.03, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The stock has a market cap of $96.77 billion, a price-to-earnings ratio of 101.35 and a beta of 1.53. Brookfield Co. has a 12-month low of $31.51 and a 12-month high of $59.23.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Scotiabank raised their price objective on Brookfield from $51.25 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Keefe, Bruyette & Woods upped their price objective on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. TD Securities increased their target price on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada cut their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.31.

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.