Geode Capital Management LLC Buys 1,930,218 Shares of Brookfield Co. (NYSE:BN)

Geode Capital Management LLC lifted its stake in shares of Brookfield Co. (NYSE:BN) by 32.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 7,960,098 shares of the company’s stock after acquiring an additional 1,930,218 shares during the period. Geode Capital Management LLC’s holdings in Brookfield were worth $460,489,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Brookfield in the fourth quarter valued at approximately $973,591,000. Baillie Gifford & Co. grew its position in Brookfield by 809.5% in the 4th quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company’s stock valued at $211,159,000 after purchasing an additional 3,271,403 shares during the period. Regents of The University of California bought a new stake in Brookfield during the 4th quarter valued at $154,140,000. Raymond James Financial Inc. acquired a new position in Brookfield during the fourth quarter worth $82,795,000. Finally, Toronto Dominion Bank lifted its stake in shares of Brookfield by 23.4% in the third quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock valued at $364,152,000 after buying an additional 1,301,072 shares in the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Performance

Shares of BN opened at $50.33 on Friday. The stock has a 50 day moving average of $56.33 and a 200 day moving average of $56.27. The company has a market capitalization of $82.87 billion, a price-to-earnings ratio of 167.76 and a beta of 1.65. Brookfield Co. has a 12 month low of $38.18 and a 12 month high of $62.78. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, February 13th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. As a group, sell-side analysts forecast that Brookfield Co. will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, March 14th. Brookfield’s dividend payout ratio is 120.00%.

Wall Street Analysts Forecast Growth

BN has been the subject of several recent research reports. Scotiabank boosted their target price on shares of Brookfield from $69.00 to $71.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 3rd. Morgan Stanley began coverage on Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price objective for the company. CIBC lifted their target price on Brookfield from $68.00 to $70.00 and gave the company an “outperformer” rating in a research report on Thursday, January 23rd. Finally, TD Securities increased their price target on Brookfield from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and an average price target of $64.00.

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.