King Luther Capital Management Corp Buys 1,672 Shares of Brookfield Co. (NYSE:BN)

King Luther Capital Management Corp raised its stake in shares of Brookfield Co. (NYSE:BN) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,580 shares of the company’s stock after acquiring an additional 1,672 shares during the period. King Luther Capital Management Corp’s holdings in Brookfield were worth $5,452,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. UniSuper Management Pty Ltd boosted its position in Brookfield by 86.7% in the first quarter. UniSuper Management Pty Ltd now owns 19,600 shares of the company’s stock worth $821,000 after purchasing an additional 9,100 shares during the last quarter. Natixis purchased a new position in shares of Brookfield in the 1st quarter worth about $275,000. Bank of Nova Scotia Trust Co. grew its position in Brookfield by 0.7% during the first quarter. Bank of Nova Scotia Trust Co. now owns 388,612 shares of the company’s stock valued at $16,271,000 after buying an additional 2,514 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Brookfield by 4.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 109,552 shares of the company’s stock worth $4,587,000 after buying an additional 4,428 shares during the last quarter. Finally, Bamco Inc. NY raised its position in Brookfield by 6.7% in the first quarter. Bamco Inc. NY now owns 1,287,522 shares of the company’s stock worth $53,909,000 after acquiring an additional 80,303 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Performance

Shares of Brookfield stock opened at $57.64 on Friday. Brookfield Co. has a 12 month low of $33.70 and a 12 month high of $60.20. The firm has a market capitalization of $94.91 billion, a P/E ratio of 122.63 and a beta of 1.53. The company has a current ratio of 1.17, a quick ratio of 1.03 and a debt-to-equity ratio of 1.40. The business has a fifty day simple moving average of $54.18 and a two-hundred day simple moving average of $48.08.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.56%. Brookfield’s dividend payout ratio is currently 68.09%.

Analyst Upgrades and Downgrades

BN has been the subject of several research reports. Keefe, Bruyette & Woods increased their price objective on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a report on Friday, August 9th. Royal Bank of Canada cut their price target on Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. TD Securities lifted their price objective on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. increased their target price on shares of Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $62.00 price target (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.