Icon Wealth Advisors LLC Sells 8,869 Shares of Brookfield Co. (NYSE:BN)

Icon Wealth Advisors LLC lessened its position in Brookfield Co. (NYSE:BN) by 88.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,214 shares of the company’s stock after selling 8,869 shares during the period. Icon Wealth Advisors LLC’s holdings in Brookfield were worth $65,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Blue Trust Inc. grew its position in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Kings Path Partners LLC purchased a new position in shares of Brookfield in the 2nd quarter valued at approximately $31,000. Family Firm Inc. acquired a new position in shares of Brookfield in the 2nd quarter valued at $36,000. First Personal Financial Services purchased a new position in shares of Brookfield in the third quarter worth about $42,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Brookfield by 63.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock valued at $48,000 after acquiring an additional 450 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Price Performance

Brookfield stock opened at $58.27 on Monday. The stock has a market cap of $95.95 billion, a P/E ratio of 123.98 and a beta of 1.53. The company has a fifty day simple moving average of $54.36 and a 200-day simple moving average of $48.24. 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 Co. has a 12-month low of $33.72 and a 12-month high of $60.20.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s dividend payout ratio (DPR) is presently 68.09%.

Analyst Ratings Changes

Several research firms recently commented on BN. JPMorgan Chase & Co. raised their target price on Brookfield from $49.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Royal Bank of Canada dropped their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Keefe, Bruyette & Woods boosted their target price on shares of Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Scotiabank raised their price target on shares of Brookfield from $65.00 to $69.00 and gave the company a “sector outperform” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price objective (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.