Bartlett & CO. Wealth Management LLC Cuts Stock Holdings in Brookfield Co. (NYSE:BN)

Bartlett & CO. Wealth Management LLC reduced its position in shares of Brookfield Co. (NYSE:BN) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,975 shares of the company’s stock after selling 270 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Brookfield were worth $343,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Brookfield by 131.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 463,125 shares of the company’s stock worth $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% during the third quarter. PNC Financial Services Group Inc. now owns 183,698 shares of the company’s stock worth $9,764,000 after purchasing an additional 9,915 shares in the last quarter. Geode Capital Management LLC raised its holdings in Brookfield by 10.9% during the third quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after purchasing an additional 591,757 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Brookfield by 10.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after purchasing an additional 351,231 shares in the last quarter. Finally, Partners Group Holding AG raised its holdings in Brookfield by 53.5% during the third quarter. Partners Group Holding AG now owns 409,303 shares of the company’s stock worth $21,754,000 after purchasing an additional 142,603 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on BN. CIBC upped their target price on shares of Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research report on Thursday. BMO Capital Markets restated an “outperform” rating and set a $62.00 target price (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Morgan Stanley began coverage on shares of Brookfield in a research report on Thursday. They set an “overweight” rating and a $80.00 target price on the stock. Finally, Scotiabank upped 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.06.

Brookfield Stock Up 2.5 %

BN stock opened at $61.09 on Friday. The company’s 50 day simple moving average is $58.30 and its 200-day simple moving average is $53.08. The firm has a market capitalization of $100.54 billion, a PE ratio of 129.97 and a beta of 1.56. Brookfield Co. has a 12 month low of $38.18 and a 12 month 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.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 16th were given a dividend of $0.08 per share. The ex-dividend date was Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.52%. Brookfield’s dividend payout ratio (DPR) is currently 68.09%.

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.