Lorne Steinberg Wealth Management Inc. Purchases 16,204 Shares of Brookfield Co. (NYSE:BN)

Lorne Steinberg Wealth Management Inc. raised its position in Brookfield Co. (NYSE:BN) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 135,815 shares of the company’s stock after purchasing an additional 16,204 shares during the period. Brookfield makes up about 1.8% of Lorne Steinberg Wealth Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Lorne Steinberg Wealth Management Inc.’s holdings in Brookfield were worth $5,449,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in Brookfield by 8.9% in the 3rd quarter. Principal Financial Group Inc. now owns 63,734,864 shares of the company’s stock valued at $1,993,867,000 after acquiring an additional 5,192,256 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Brookfield by 21.0% during the third quarter. The Manufacturers Life Insurance Company now owns 19,233,299 shares of the company’s stock worth $602,966,000 after buying an additional 3,331,522 shares during the period. FMR LLC grew its holdings in shares of Brookfield by 37.8% during the third quarter. FMR LLC now owns 10,025,978 shares of the company’s stock worth $313,502,000 after buying an additional 2,752,801 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in Brookfield by 16.6% in the 3rd quarter. DAVENPORT & Co LLC now owns 9,540,134 shares of the company’s stock valued at $298,320,000 after acquiring an additional 1,357,479 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Brookfield by 153.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,848,871 shares of the company’s stock worth $57,842,000 after acquiring an additional 1,118,396 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

Shares of BN traded down $0.33 during mid-day trading on Wednesday, reaching $40.04. The company had a trading volume of 765,071 shares, compared to its average volume of 2,698,512. The company’s 50 day simple moving average is $40.78 and its 200 day simple moving average is $37.85. The company has a market capitalization of $65.75 billion, a price-to-earnings ratio of 65.11 and a beta of 1.49. Brookfield Co. has a 1-year low of $28.84 and a 1-year high of $43.17. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.99 and a current ratio of 1.15.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, February 8th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.14. The business had revenue of $24.52 billion during the quarter, compared to analyst estimates of $1.15 billion. Brookfield had a net margin of 1.18% and a return on equity of 3.22%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business earned $1.12 EPS. Analysts expect that Brookfield Co. will post 3.75 EPS for the current year.

Brookfield Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.08 per share. This is an increase from Brookfield’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, March 12th. This represents a $0.32 annualized dividend and a dividend yield of 0.80%. Brookfield’s dividend payout ratio (DPR) is 51.61%.

Insider Activity at Brookfield

In other news, Director Ocm Growth Holdings Llc sold 1,000,000 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $11.33, for a total transaction of $11,330,000.00. Following the transaction, the director now owns 15,492,168 shares in the company, valued at $175,526,263.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on BN shares. Canaccord Genuity Group boosted their price objective on shares of Brookfield from $41.00 to $42.50 and gave the stock a “hold” rating in a research report on Friday, February 9th. CIBC upped their target price on Brookfield from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. TheStreet upgraded Brookfield from a “c” rating to a “b” rating in a research note on Thursday, February 8th. TD Securities lifted their price objective on Brookfield from $61.00 to $62.00 and gave the company an “action list buy” rating in a report on Sunday, February 11th. Finally, Scotiabank increased their target price on Brookfield from $49.00 to $50.00 and gave the stock a “sector outperform” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.45.

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.