New South Capital Management Inc. Has $60.05 Million Stock Holdings in Brookfield Co. (NYSE:BN)

New South Capital Management Inc. trimmed its holdings in Brookfield Co. (NYSE:BN) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,045,331 shares of the company’s stock after selling 28,152 shares during the quarter. Brookfield comprises about 2.5% of New South Capital Management Inc.’s portfolio, making the stock its 11th biggest position. New South Capital Management Inc. owned approximately 0.06% of Brookfield worth $60,054,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CIBC Asset Management Inc lifted its stake in shares of Brookfield by 6.2% in the 4th quarter. CIBC Asset Management Inc now owns 14,178,133 shares of the company’s stock valued at $814,585,000 after purchasing an additional 823,428 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Brookfield by 31.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after purchasing an additional 2,818,716 shares during the period. EdgePoint Investment Group Inc. increased its position in Brookfield by 1.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock valued at $611,383,000 after buying an additional 196,790 shares in the last quarter. Toronto Dominion Bank increased its position in Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after buying an additional 1,301,072 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Brookfield by 10.9% in the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock valued at $320,670,000 after buying an additional 591,757 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on BN shares. Scotiabank boosted their target price on Brookfield from $69.00 to $71.00 and gave the company a “sector outperform” rating in a research report on Monday, February 3rd. TD Securities boosted their target price on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley started coverage on Brookfield in a research report on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 target price for the company. 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. Finally, CIBC boosted 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $64.00.

Brookfield Stock Performance

BN stock opened at $55.19 on Thursday. The firm has a market cap of $90.84 billion, a PE ratio of 183.96 and a beta of 1.57. The company has a quick ratio of 1.09, a current ratio of 1.21 and a debt-to-equity ratio of 1.40. The business has a 50 day moving average of $58.46 and a 200-day moving average of $55.71. Brookfield Co. has a 12-month low of $38.18 and a 12-month high of $62.78.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, sell-side analysts expect that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

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

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.