Connor Clark & Lunn Investment Management Ltd. Has $310.05 Million Stock Holdings in Brookfield Co. (NYSE:BN)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Brookfield Co. (NYSE:BN) by 15.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,838,483 shares of the company’s stock after selling 1,042,615 shares during the period. Brookfield makes up 1.5% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 16th largest holding. Connor Clark & Lunn Investment Management Ltd. owned 0.35% of Brookfield worth $310,050,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Nicholas Hoffman & Company LLC. grew its position in shares of Brookfield by 3.9% in the second quarter. Nicholas Hoffman & Company LLC. now owns 6,781 shares of the company’s stock valued at $282,000 after purchasing an additional 257 shares during the last quarter. Blue Trust Inc. grew its holdings in Brookfield by 62.8% in the 2nd quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after buying an additional 272 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in Brookfield by 2.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,374 shares of the company’s stock valued at $551,000 after buying an additional 292 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in Brookfield by 20.6% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 1,734 shares of the company’s stock worth $71,000 after buying an additional 296 shares during the period. Finally, Caprock Group LLC lifted its holdings in shares of Brookfield by 2.5% during the third quarter. Caprock Group LLC now owns 12,332 shares of the company’s stock worth $655,000 after buying an additional 300 shares in the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Up 1.2 %

NYSE BN opened at $56.78 on Wednesday. The business has a fifty day moving average price of $53.84 and a two-hundred day moving average price of $47.96. The stock has a market capitalization of $93.50 billion, a PE ratio of 120.81 and a beta of 1.53. Brookfield Co. has a fifty-two week low of $33.61 and a fifty-two week high of $60.20. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03.

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, December 16th. This represents a $0.32 annualized dividend and a dividend yield of 0.56%. Brookfield’s dividend payout ratio is currently 68.09%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BN. Royal Bank of Canada decreased their price target on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Scotiabank raised their target price on shares of Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a report on Friday, November 15th. BMO Capital Markets reiterated an “outperform” rating and issued a $62.00 price target (up from $50.00) on shares of Brookfield in a research note on Friday, November 15th. TD Securities raised their price objective on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Keefe, Bruyette & Woods upped their target price on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.31.

Brookfield 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.