Private Trust Co. NA Makes New Investment in Brookfield Co. (NYSE:BN)

Posted by Defense World Staff on Mar 30th, 2023

Private Trust Co. NA bought a new stake in Brookfield Co. (NYSE:BN – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,838 shares of the company’s stock, valued at approximately $58,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fenimore Asset Management Inc. purchased a new stake in Brookfield in the fourth quarter valued at $90,070,000. Addenda Capital Inc. purchased a new stake in shares of Brookfield in the fourth quarter valued at about $82,117,000. Capital Advisors Inc. OK purchased a new position in Brookfield during the fourth quarter worth about $18,979,000. Parkside Investments LLC purchased a new position in Brookfield during the fourth quarter worth about $5,628,000. Finally, Chemistry Wealth Management LLC purchased a new position in Brookfield during the fourth quarter worth about $5,248,000. Hedge funds and other institutional investors own 60.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BN. TheStreet raised shares of Brookfield from a “d+” rating to a “c” rating in a report on Monday, January 23rd. JPMorgan Chase & Co. upped their target price on shares of Brookfield from $46.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, February 10th. Royal Bank of Canada upped their target price on shares of Brookfield from $53.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. TD Securities lowered their target price on shares of Brookfield from $63.00 to $62.00 and set an “action list buy” rating on the stock in a research report on Friday, February 10th. Finally, Credit Suisse Group upgraded shares of Brookfield from a “neutral” rating to an “outperform” rating and set a $41.00 target price on the stock in a research report on Monday, March 20th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $51.00.

Brookfield Price Performance

BN stock opened at $31.19 on Thursday. The firm has a 50 day simple moving average of $33.93. The firm has a market capitalization of $51.12 billion, a price-to-earnings ratio of 25.89 and a beta of 1.41. Brookfield Co. has a 12 month low of $28.25 and a 12 month high of $59.16. The company has a quick ratio of 1.04, a current ratio of 1.22 and a debt-to-equity ratio of 1.47.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Tuesday, February 28th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, February 27th. This represents a $0.28 dividend on an annualized basis and a yield of 0.90%. Brookfield’s dividend payout ratio (DPR) is currently 24.14%.

About Brookfield

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Brookfield Corp. engages in the management of public and private investment products and services for institutional and retail clients. It operates through the following business segments: Renewable Power and Transition, Infrastructure, Private Equity, Real Estate, and Credit and Insurance Solutions.