DAVENPORT & Co LLC Has $541.91 Million Stock Position in Brookfield Co. (NYSE:BN)

DAVENPORT & Co LLC reduced its stake in Brookfield Co. (NYSE:BN) by 0.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,437,172 shares of the company’s stock after selling 2,163 shares during the quarter. Brookfield comprises approximately 3.1% of DAVENPORT & Co LLC’s holdings, making the stock its largest position. DAVENPORT & Co LLC owned 0.57% of Brookfield worth $541,911,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BN. Pinnacle Bancorp Inc. lifted its stake in shares of Brookfield by 29.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock worth $56,000 after buying an additional 221 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in Brookfield by 10.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,579 shares of the company’s stock valued at $148,000 after acquiring an additional 245 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in Brookfield by 2.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock valued at $551,000 after purchasing an additional 292 shares during the last quarter. Caprock Group LLC increased its holdings in shares of Brookfield by 2.5% in the 3rd quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock worth $655,000 after purchasing an additional 300 shares in the last quarter. Finally, PFG Investments LLC raised its stake in shares of Brookfield by 3.5% in the fourth quarter. PFG Investments LLC now owns 10,379 shares of the company’s stock worth $596,000 after purchasing an additional 350 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. CIBC increased 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. Morgan Stanley assumed coverage on shares of Brookfield in a report on Thursday, January 23rd. They set an “overweight” rating and a $80.00 price target on the stock. Scotiabank lifted their price target on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $62.00 price objective (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.06.

Brookfield Trading Down 1.4 %

NYSE:BN opened at $61.20 on Friday. Brookfield Co. has a one year low of $38.18 and a one year high of $62.78. The business has a fifty day moving average price of $58.68 and a 200-day moving average price of $53.68. The firm has a market capitalization of $100.73 billion, a price-to-earnings ratio of 130.22 and a beta of 1.56. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is currently 68.09%.

Brookfield Company 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.