Beutel Goodman & Co Ltd. Sells 664,279 Shares of Brookfield Co. (NYSE:BN)

Beutel Goodman & Co Ltd. lowered its position in Brookfield Co. (NYSE:BN) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,860,619 shares of the company’s stock after selling 664,279 shares during the quarter. Brookfield makes up about 1.8% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 22nd largest holding. Beutel Goodman & Co Ltd.’s holdings in Brookfield were worth $336,673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of BN. Compass Planning Associates Inc acquired a new stake in Brookfield in the 4th quarter valued at about $30,000. FSA Wealth Management LLC acquired a new stake in shares of Brookfield in the third quarter valued at approximately $42,000. Prestige Wealth Management Group LLC boosted its stake in shares of Brookfield by 137.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 865 shares of the company’s stock worth $46,000 after acquiring an additional 500 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Brookfield during the 4th quarter worth approximately $48,000. Finally, Continuum Advisory LLC bought a new stake in Brookfield in the 3rd quarter valued at $55,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Down 4.4 %

Shares of BN opened at $51.77 on Friday. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.40. The stock has a market capitalization of $85.25 billion, a PE ratio of 172.57 and a beta of 1.65. The firm’s 50 day moving average is $56.83 and its 200-day moving average is $56.15. Brookfield Co. has a 12 month low of $38.18 and a 12 month high of $62.78.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.13. Brookfield had a return on equity of 3.93% and a net margin of 0.75%. Equities research analysts forecast that Brookfield Co. will post 3.85 EPS for the current year.

Brookfield Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, March 14th. This represents a $0.36 annualized dividend and a yield of 0.70%. Brookfield’s dividend payout ratio is 120.00%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. TD Securities lifted their price objective on shares of Brookfield from $74.00 to $75.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley initiated coverage on shares of Brookfield in a research note on Thursday, January 23rd. They issued an “overweight” rating and a $80.00 price target on the stock. Scotiabank raised their price objective 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. Finally, CIBC increased their target price on Brookfield from $68.00 to $70.00 and gave the stock an “outperformer” rating in a research note on Thursday, January 23rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

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.