Dixon Mitchell Investment Counsel Inc. Reduces Stock Holdings in Brookfield Co. (NYSE:BN)

Dixon Mitchell Investment Counsel Inc. cut its stake in shares of Brookfield Co. (NYSE:BN) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,617,414 shares of the company’s stock after selling 139,621 shares during the quarter. Brookfield accounts for 4.3% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 6th largest holding. Dixon Mitchell Investment Counsel Inc. owned 0.11% of Brookfield worth $92,961,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of BN. Pinnacle Bancorp Inc. grew its holdings in shares of Brookfield by 29.5% during the fourth quarter. Pinnacle Bancorp Inc. now owns 969 shares of the company’s stock valued at $56,000 after buying an additional 221 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Brookfield by 2.9% in 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 period. Caprock Group LLC lifted its position in shares of Brookfield by 2.5% in the third 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. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Brookfield by 0.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 113,397 shares of the company’s stock worth $6,027,000 after purchasing an additional 357 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Brookfield by 23.0% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,970 shares of the company’s stock valued at $113,000 after purchasing an additional 369 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Price Performance

Brookfield stock opened at $56.95 on Thursday. The company has a market capitalization of $85.91 billion, a PE ratio of 121.17 and a beta of 1.56. Brookfield Co. has a one year low of $37.79 and a one year high of $62.44. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. The business has a 50 day simple moving average of $58.11 and a 200 day simple moving average of $52.34.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Monday, December 16th. Brookfield’s payout ratio is currently 68.09%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BN. Scotiabank increased their target price on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 15th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and an average price target of $55.31.

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.