Ritholtz Wealth Management Purchases Shares of 8,972 Brookfield Co. (NYSE:BN)

Posted by Defense World Staff on Mar 30th, 2023

Ritholtz Wealth Management purchased a new stake in Brookfield Co. (NYSE:BN – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,972 shares of the company’s stock, valued at approximately $282,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Tandem Capital Management Corp ADV acquired a new position in shares of Brookfield in the fourth quarter worth about $4,624,000. Mckinley Capital Management LLC Delaware acquired a new position in shares of Brookfield in the fourth quarter worth about $815,000. Private Advisor Group LLC acquired a new position in shares of Brookfield in the fourth quarter worth about $386,000. Hanson & Doremus Investment Management acquired a new position in shares of Brookfield in the fourth quarter worth about $38,000. Finally, Private Trust Co. NA acquired a new position in shares of Brookfield in the fourth quarter worth about $58,000. 60.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on BN. Credit Suisse Group upgraded shares of Brookfield from a “neutral” rating to an “outperform” rating and set a $41.00 price target for the company in a research report on Monday, March 20th. Royal Bank of Canada upped their price target 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 reduced their price target on shares of Brookfield from $63.00 to $62.00 and set an “action list buy” rating for the company in a research report on Friday, February 10th. JPMorgan Chase & Co. upped their price target 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. Finally, TheStreet upgraded shares of Brookfield from a “d+” rating to a “c” rating in a research report on Monday, January 23rd. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Brookfield currently has a consensus rating of “Buy” and a consensus price target of $51.00.

Brookfield Price Performance

Brookfield stock opened at $31.19 on Thursday. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.04 and a current ratio of 1.22. The stock has a market cap of $51.12 billion, a PE ratio of 26.89 and a beta of 1.41. The company has a 50 day moving average price of $33.93. Brookfield Co. has a 1-year low of $28.25 and a 1-year high of $59.16.

Brookfield Dividend Announcement

The business also recently disclosed 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 is Monday, February 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.90%. Brookfield’s payout ratio is currently 24.14%.

Brookfield Company Profile

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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.