Capital Research Global Investors Makes New $99.68 Million Investment in Brookfield Corporation $BN

Capital Research Global Investors bought a new position in Brookfield Corporation (NYSE:BN) during the third quarter, HoldingsChannel.com reports. The fund bought 1,452,739 shares of the company’s stock, valued at approximately $99,678,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. AQR Capital Management LLC grew its position in Brookfield by 147.5% during the 1st quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock valued at $963,000 after purchasing an additional 11,069 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Brookfield by 13.5% in the first quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock worth $130,000 after buying an additional 295 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Brookfield by 32.3% in the second quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock worth $353,000 after buying an additional 1,396 shares in the last quarter. Savant Capital LLC bought a new position in shares of Brookfield in the second quarter worth approximately $214,000. Finally, Prospera Financial Services Inc grew its holdings in shares of Brookfield by 24.4% during the second quarter. Prospera Financial Services Inc now owns 7,875 shares of the company’s stock valued at $487,000 after buying an additional 1,543 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Down 2.8%

Shares of Brookfield stock opened at $40.54 on Thursday. Brookfield Corporation has a twelve month low of $29.07 and a twelve month high of $49.56. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.48. The company’s 50 day moving average is $45.91 and its 200 day moving average is $45.66. The company has a market cap of $99.32 billion, a price-to-earnings ratio of 82.18 and a beta of 1.58.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. Research analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a $0.07 dividend. This is an increase from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield’s dividend payout ratio (DPR) is 48.98%.

Wall Street Analysts Forecast Growth

BN has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a report on Monday, December 29th. Royal Bank Of Canada increased their target price on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $52.00 price target (up from $50.67) on shares of Brookfield in a research note on Friday, November 14th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $60.00 price target on shares of Brookfield in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.59.

Brookfield Company Profile

Brookfield Corporation (NYSE:BN) is a global alternative asset manager that specializes in real assets. The company invests in and operates businesses across real estate, infrastructure, renewable power and energy, private equity and credit. Its activities span both ownership and active management of physical assets as well as the operation of investment funds and vehicles that provide institutional and retail investors access to long‑lived, cash‑generating assets.

Brookfield’s services include asset management, direct investing, property development and the operation of infrastructure and energy businesses.