Hohimer Wealth Management LLC Decreases Stock Position in Brookfield Co. (NYSE:BN)

Hohimer Wealth Management LLC trimmed its position in shares of Brookfield Co. (NYSE:BN) by 0.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,097 shares of the company’s stock after selling 215 shares during the period. Brookfield makes up 1.2% of Hohimer Wealth Management LLC’s portfolio, making the stock its 16th biggest position. Hohimer Wealth Management LLC’s holdings in Brookfield were worth $5,373,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in Brookfield by 62.8% during the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock worth $30,000 after acquiring an additional 272 shares in the last quarter. Kings Path Partners LLC bought a new position in shares of Brookfield during the second quarter worth about $31,000. First Personal Financial Services acquired a new position in Brookfield in the third quarter worth about $42,000. FSA Wealth Management LLC acquired a new position in Brookfield in the third quarter worth about $42,000. Finally, Prestige Wealth Management Group LLC increased its holdings in Brookfield by 137.0% in the third quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock valued at $46,000 after buying an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Trading Up 0.0 %

Shares of NYSE:BN opened at $59.16 on Wednesday. Brookfield Co. has a fifty-two week low of $35.66 and a fifty-two week high of $62.44. The company has a quick ratio of 1.03, a current ratio of 1.17 and a debt-to-equity ratio of 1.40. The company has a market cap of $97.42 billion, a PE ratio of 125.87 and a beta of 1.55. The company’s 50-day moving average price is $56.35 and its 200 day moving average price is $49.59.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.54%. Brookfield’s dividend payout ratio is presently 68.09%.

Wall Street Analyst Weigh In

BN has been the subject of several research reports. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. 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. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.31.

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.