Commerce Bank Lowers Stock Holdings in Brookfield Co. (NYSE:BN)

Commerce Bank reduced its position in Brookfield Co. (NYSE:BN) by 17.8% in the third quarter, Holdings Channel.com reports. The firm owned 7,994 shares of the company’s stock after selling 1,729 shares during the quarter. Commerce Bank’s holdings in Brookfield were worth $425,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Cooke & Bieler LP raised its position in Brookfield by 5.0% in the 2nd quarter. Cooke & Bieler LP now owns 5,698,773 shares of the company’s stock worth $236,727,000 after purchasing an additional 269,813 shares during the period. SG Americas Securities LLC purchased a new position in shares of Brookfield in the second quarter worth about $128,321,000. Cardinal Capital Management Inc. lifted its stake in shares of Brookfield by 1.4% in the 2nd quarter. Cardinal Capital Management Inc. now owns 2,352,094 shares of the company’s stock valued at $97,766,000 after acquiring an additional 31,730 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Brookfield by 1.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,763,283 shares of the company’s stock valued at $73,256,000 after acquiring an additional 26,072 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. grew its position in Brookfield by 0.8% during the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,757,035 shares of the company’s stock worth $93,422,000 after acquiring an additional 14,661 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BN has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Royal Bank of Canada cut their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price objective (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. TD Securities raised their target price on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Keefe, Bruyette & Woods upped their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.31.

Brookfield Stock Up 0.6 %

BN stock opened at $60.06 on Wednesday. The company has a market capitalization of $98.90 billion, a price-to-earnings ratio of 127.79 and a beta of 1.53. The company has a debt-to-equity ratio of 1.40, a quick ratio of 1.03 and a current ratio of 1.17. The business’s 50 day moving average price is $54.55 and its two-hundred day moving average price is $48.35. Brookfield Co. has a fifty-two week low of $33.72 and a fifty-two week high of $60.23.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.08 dividend. The ex-dividend date is Monday, December 16th. This represents a $0.32 dividend on an annualized basis and a yield of 0.53%. Brookfield’s dividend payout ratio (DPR) is 68.09%.

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.