Salvus Wealth Management LLC Has $2.42 Million Stake in Brookfield Co. (NYSE:BN)

Salvus Wealth Management LLC reduced its stake in Brookfield Co. (NYSE:BN) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,071 shares of the company’s stock after selling 441 shares during the period. Brookfield comprises approximately 1.5% of Salvus Wealth Management LLC’s investment portfolio, making the stock its 20th largest position. Salvus Wealth Management LLC’s holdings in Brookfield were worth $2,417,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in BN. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Brookfield by 131.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock valued at $24,594,000 after purchasing an additional 263,375 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Brookfield by 5.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock valued at $9,764,000 after buying an additional 9,915 shares during the last quarter. Geode Capital Management LLC boosted its position in Brookfield by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after buying an additional 591,757 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Brookfield by 10.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after acquiring an additional 351,231 shares during the last quarter. Finally, Partners Group Holding AG increased its position in Brookfield by 53.5% in the 3rd quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock valued at $21,754,000 after acquiring an additional 142,603 shares during the period. 61.60% of the stock is owned by institutional investors.

Brookfield Trading Up 1.1 %

Shares of Brookfield stock opened at $57.51 on Friday. The company has a market capitalization of $86.75 billion, a P/E ratio of 122.36 and a beta of 1.56. The stock has a fifty day simple moving average of $58.11 and a 200 day simple moving average of $52.34. Brookfield Co. has a 12-month low of $37.79 and a 12-month high of $62.44. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40.

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 of this dividend was Monday, December 16th. Brookfield’s dividend payout ratio is presently 68.09%.

Analysts Set New Price Targets

Several brokerages recently weighed in on BN. Scotiabank boosted their price objective 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. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 target price (up from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.31.

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.