Glenmede Trust Co. NA Has $1.66 Million Position in Brookfield Co. (NYSE:BN)

Glenmede Trust Co. NA cut its stake in shares of Brookfield Co. (NYSE:BN) by 8.5% in the third quarter, Holdings Channel reports. The fund owned 31,268 shares of the company’s stock after selling 2,920 shares during the period. Glenmede Trust Co. NA’s holdings in Brookfield were worth $1,662,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in Brookfield by 62.8% in the second quarter. Blue Trust Inc. now owns 705 shares of the company’s stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Kings Path Partners LLC bought a new position in Brookfield during the second quarter worth about $31,000. Family Firm Inc. acquired a new position in Brookfield in the second quarter valued at about $36,000. First Personal Financial Services bought a new stake in shares of Brookfield in the third quarter worth about $42,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Brookfield by 63.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,159 shares of the company’s stock worth $48,000 after purchasing an additional 450 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE BN opened at $61.39 on Monday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.17 and a quick ratio of 1.03. The business has a 50-day moving average of $55.34 and a 200-day moving average of $48.79. The stock has a market capitalization of $101.09 billion, a price-to-earnings ratio of 130.62 and a beta of 1.53. Brookfield Co. has a fifty-two week low of $34.97 and a fifty-two week high of $61.77.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date is Monday, December 16th. Brookfield’s dividend payout ratio is currently 68.09%.

Wall Street Analyst Weigh In

BN has been the subject of several research analyst reports. TD Securities boosted their price objective on Brookfield from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Royal Bank of Canada lowered their price objective on shares of Brookfield from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $62.00 price objective (up from $50.00) on shares of Brookfield in a research report on Friday, November 15th. Keefe, Bruyette & Woods lifted their price target on Brookfield from $44.00 to $46.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Finally, Scotiabank upped their price objective on Brookfield from $65.00 to $69.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.