Connective Portfolio Management LLC Makes New $1.91 Million Investment in Brookfield Co. (NYSE:BN)

Connective Portfolio Management LLC purchased a new stake in Brookfield Co. (NYSE:BN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 33,310 shares of the company’s stock, valued at approximately $1,914,000. Brookfield comprises approximately 2.8% of Connective Portfolio Management LLC’s portfolio, making the stock its 11th largest holding.

Other hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in Brookfield by 31.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,736,712 shares of the company’s stock valued at $623,783,000 after acquiring an additional 2,818,716 shares during the period. EdgePoint Investment Group Inc. grew its stake in shares of Brookfield by 1.7% in the third quarter. EdgePoint Investment Group Inc. now owns 11,512,817 shares of the company’s stock worth $611,383,000 after purchasing an additional 196,790 shares during the last quarter. Toronto Dominion Bank increased its holdings in 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 purchasing an additional 1,301,072 shares during the period. Geode Capital Management LLC raised its position in Brookfield by 10.9% during the 3rd quarter. Geode Capital Management LLC now owns 6,029,880 shares of the company’s stock worth $320,670,000 after purchasing an additional 591,757 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Brookfield by 10.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,564,317 shares of the company’s stock worth $189,507,000 after buying an additional 351,231 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BN. BMO Capital Markets restated an “outperform” rating and set a $62.00 price objective (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Scotiabank increased their target price 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield Stock Performance

Shares of BN stock opened at $57.00 on Thursday. The company has a market cap of $85.98 billion, a price-to-earnings ratio of 121.28 and a beta of 1.56. Brookfield Co. has a 52 week low of $37.79 and a 52 week high of $62.44. The firm has a 50 day moving average of $58.11 and a 200-day moving average of $52.31. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40.

Brookfield Dividend Announcement

The business 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 0.56%. Brookfield’s dividend payout ratio (DPR) is presently 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.