Brookfield Co. (NYSE:BN) is Eldred Rock Partners LLC’s 3rd Largest Position

Eldred Rock Partners LLC lifted its position in Brookfield Co. (NYSE:BN) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 270,540 shares of the company’s stock after buying an additional 866 shares during the period. Brookfield makes up about 5.2% of Eldred Rock Partners LLC’s investment portfolio, making the stock its 3rd biggest position. Eldred Rock Partners LLC’s holdings in Brookfield were worth $15,531,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in Brookfield by 31.6% in the third quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock worth $623,783,000 after acquiring an additional 2,818,716 shares during the period. Toronto Dominion Bank increased its stake in shares of Brookfield by 23.4% in the 3rd quarter. Toronto Dominion Bank now owns 6,851,397 shares of the company’s stock worth $364,152,000 after purchasing an additional 1,301,072 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in Brookfield by 4,149.3% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 776,346 shares of the company’s stock worth $41,263,000 after purchasing an additional 758,076 shares during the period. Bamco Inc. NY lifted its position in Brookfield by 62.6% during the third quarter. Bamco Inc. NY now owns 1,949,472 shares of the company’s stock valued at $103,614,000 after purchasing an additional 750,726 shares in the last quarter. Finally, Glazer Capital LLC bought a new stake in Brookfield during the second quarter valued at about $30,740,000. Institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

BN has been the topic of several recent research reports. Scotiabank raised their price objective on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 15th. BMO Capital Markets reaffirmed an “outperform” rating and set a $62.00 price target (up previously from $50.00) on shares of Brookfield in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.31.

Brookfield Price Performance

Shares of NYSE:BN opened at $58.16 on Monday. 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 firm has a market cap of $87.73 billion, a price-to-earnings ratio of 123.75 and a beta of 1.56. The firm has a fifty day moving average price of $58.13 and a 200 day moving average price of $52.64. Brookfield Co. has a fifty-two week low of $38.18 and a fifty-two week high of $62.44.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 dividend yield of 0.55%. Brookfield’s payout ratio is 68.09%.

About Brookfield

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.