Brookfield Co. (NYSE:BN) Shares Purchased by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. grew its holdings in Brookfield Co. (NYSE:BN) by 0.8% in the 3rd quarter, Holdings Channel reports. The fund owned 1,757,035 shares of the company’s stock after purchasing an additional 14,661 shares during the quarter. Brookfield accounts for 4.2% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 6th biggest position. Dixon Mitchell Investment Counsel Inc.’s holdings in Brookfield were worth $93,422,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Brookfield in the 2nd quarter valued at about $128,321,000. M&G Plc bought a new stake in Brookfield in the 1st quarter valued at approximately $111,222,000. Capital World Investors boosted its position in Brookfield by 5.1% during the 1st quarter. Capital World Investors now owns 51,922,031 shares of the company’s stock worth $2,173,923,000 after acquiring an additional 2,497,509 shares during the last quarter. Wulff Hansen & CO. grew its stake in shares of Brookfield by 4,054.0% during the 2nd quarter. Wulff Hansen & CO. now owns 1,542,505 shares of the company’s stock worth $64,076,000 after acquiring an additional 1,505,372 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Brookfield by 1.9% in the first quarter. Vanguard Group Inc. now owns 57,480,308 shares of the company’s stock valued at $2,406,700,000 after purchasing an additional 1,063,110 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Up 1.9 %

Shares of NYSE:BN opened at $56.40 on Friday. Brookfield Co. has a 12-month low of $28.84 and a 12-month high of $56.68. 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 firm has a market cap of $92.70 billion, a P/E ratio of 92.46 and a beta of 1.54. The business has a fifty day simple moving average of $50.34 and a 200 day simple moving average of $45.49.

Brookfield (NYSE:BN) last released its earnings results on Thursday, August 8th. The company reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.57. The company had revenue of $23.05 billion for the quarter, compared to the consensus estimate of $1.24 billion. Brookfield had a net margin of 1.13% and a return on equity of 3.67%. Brookfield’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS. Analysts predict that Brookfield Co. will post 3.84 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Thursday, September 12th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend was Thursday, September 12th. Brookfield’s dividend payout ratio (DPR) is presently 52.46%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BN shares. JPMorgan Chase & Co. raised their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. TD Securities boosted their price target on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Scotiabank raised their price objective on Brookfield from $50.50 to $51.25 and gave the stock a “sector outperform” rating in a research note on Friday, August 9th. Royal Bank of Canada cut their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods raised 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and an average target price of $51.59.

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.