Commerce Bank Sells 1,729 Shares of Brookfield Co. (NYSE:BN)

Commerce Bank trimmed its position in shares of Brookfield Co. (NYSE:BN) by 17.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,994 shares of the company’s stock after selling 1,729 shares during the quarter. Commerce Bank’s holdings in Brookfield were worth $425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. TD Securities increased their price target on Brookfield from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada lowered their target price on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. BMO Capital Markets restated an “outperform” rating and set a $62.00 target price (up previously from $50.00) on shares of Brookfield in a research report on Friday, November 15th. JPMorgan Chase & Co. lifted their price target on Brookfield from $49.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods raised their target price on Brookfield from $44.00 to $46.00 and gave the stock a “market perform” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and a consensus target price of $55.31.

Brookfield Stock Performance

NYSE:BN opened at $60.06 on Wednesday. The stock has a market cap of $98.90 billion, a P/E ratio of 127.79 and a beta of 1.53. 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 business’s 50-day moving average price is $54.55 and its two-hundred day moving average price is $48.35. Brookfield Co. has a twelve month low of $33.72 and a twelve month high of $60.23.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend is Monday, December 16th. Brookfield’s dividend payout ratio is currently 68.09%.

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.