TD Asset Management Inc. Lowers Stock Position in Brookfield Co. (NYSE:BN)

TD Asset Management Inc. decreased its position in Brookfield Co. (NYSE:BN) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,230,140 shares of the company’s stock after selling 140,725 shares during the period. Brookfield comprises 1.2% of TD Asset Management Inc.’s investment portfolio, making the stock its 14th biggest position. TD Asset Management Inc.’s holdings in Brookfield were worth $1,391,944,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BN. Thrivent Financial for Lutherans acquired a new position in Brookfield in the 3rd quarter worth about $223,000. Nwam LLC purchased a new stake in shares of Brookfield in the third quarter valued at approximately $370,000. Cerity Partners LLC raised its stake in shares of Brookfield by 20.2% during the 3rd quarter. Cerity Partners LLC now owns 97,719 shares of the company’s stock worth $5,194,000 after buying an additional 16,425 shares during the period. Algert Global LLC purchased a new position in shares of Brookfield during the 3rd quarter valued at approximately $1,585,000. Finally, Douglass Winthrop Advisors LLC acquired a new stake in Brookfield in the 3rd quarter valued at $229,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Trading Up 3.2 %

BN opened at $55.38 on Tuesday. The firm has a market capitalization of $91.19 billion, a price-to-earnings ratio of 184.60 and a beta of 1.65. The company’s 50 day simple moving average is $57.08 and its two-hundred day simple moving average is $56.08. Brookfield Co. has a 1-year low of $38.18 and a 1-year high of $62.78. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.21 and a quick ratio of 1.09.

Brookfield (NYSE:BN) last announced 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 return on equity of 3.93% and a net margin of 0.75%. Analysts expect that Brookfield Co. will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Friday, March 14th. Brookfield’s dividend payout ratio is currently 120.00%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BN shares. Morgan Stanley began coverage on shares of Brookfield in a research report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price objective for the company. TD Securities raised their price target on shares of Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Scotiabank lifted their price objective on Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a report on Monday, February 3rd. Finally, CIBC raised their target price on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. One 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, Brookfield has an average rating of “Moderate Buy” and a consensus price target 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.