Hikari Tsushin Inc. Has $3.01 Million Position in Brookfield Corporation $BN

Hikari Tsushin Inc. boosted its stake in shares of Brookfield Corporation (NYSE:BN) by 50.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,646 shares of the company’s stock after acquiring an additional 21,882 shares during the period. Hikari Tsushin Inc.’s holdings in Brookfield were worth $3,012,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC bought a new position in Brookfield in the 4th quarter valued at about $26,000. Exchange Traded Concepts LLC acquired a new stake in Brookfield in the fourth quarter valued at about $27,000. Hilltop National Bank grew its position in Brookfield by 49.9% in the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after acquiring an additional 241 shares during the last quarter. New England Capital Financial Advisors LLC grew its position in Brookfield by 50.2% in the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock valued at $34,000 after acquiring an additional 251 shares during the last quarter. Finally, Entrust Financial LLC acquired a new position in Brookfield during the fourth quarter worth about $35,000. 61.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. BMO Capital Markets upped their price objective on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Scotiabank restated an “outperform” rating and issued a $53.00 target price (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. Finally, Scotia boosted their target price on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.82.

Brookfield Stock Performance

NYSE:BN opened at $44.99 on Friday. The stock’s 50-day moving average is $44.83 and its 200-day moving average is $44.92. Brookfield Corporation has a 1-year low of $37.93 and a 1-year high of $49.56. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. The stock has a market cap of $110.27 billion, a P/E ratio of 88.22 and a beta of 1.53.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. Brookfield’s payout ratio is presently 54.90%.

About Brookfield

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.