101,312 Shares of Brookfield Corporation $BN Bought by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC purchased a new position in shares of Brookfield Corporation (NYSE:BN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 101,312 shares of the company’s stock, valued at approximately $3,694,000.

A number of other hedge funds also recently bought and sold shares of BN. Bank of Nova Scotia grew its position in shares of Brookfield by 11.4% during the first quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock worth $621,443,000 after buying an additional 1,575,668 shares in the last quarter. Madison Asset Management LLC purchased a new stake in shares of Brookfield during the second quarter worth approximately $55,655,000. WCM Investment Management LLC raised its holdings in Brookfield by 454.4% in the first quarter. WCM Investment Management LLC now owns 1,103,817 shares of the company’s stock valued at $42,740,000 after acquiring an additional 904,701 shares in the last quarter. Nykredit A S acquired a new stake in Brookfield in the second quarter valued at approximately $23,546,000. Finally, TD Waterhouse Canada Inc. raised its holdings in Brookfield by 3.6% in the third quarter. TD Waterhouse Canada Inc. now owns 14,398,936 shares of the company’s stock valued at $522,741,000 after acquiring an additional 495,666 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of BN opened at $41.41 on Monday. The stock has a 50 day moving average price of $38.19 and a 200 day moving average price of $42.45. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $101.57 billion, a price-to-earnings ratio of 75.30 and a beta of 1.53. Brookfield Corporation has a 52-week low of $35.61 and a 52-week high of $49.56.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. Research analysts predict that Brookfield Corporation will post 2.88 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were issued a $0.07 dividend. The ex-dividend date was Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Brookfield’s dividend payout ratio is presently 50.91%.

Wall Street Analyst Weigh In

BN has been the subject of a number of recent research reports. TD lifted their price target on shares of Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Scotiabank reissued an “outperform” rating and issued a $54.00 price objective (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. Scotia increased their price objective on shares of Brookfield from $53.00 to $54.00 and gave the company a “sector outperform” rating in a research report on Friday, August 14th. Morgan Stanley set a $59.00 price objective on shares of Brookfield and gave the company an “overweight” rating in a report on Tuesday, July 21st. Finally, BMO Capital Markets raised shares of Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.40.

Brookfield Company Profile

Brookfield Corporation is a global investment and operating company focused on owning and managing businesses and assets in sectors including renewable power, infrastructure, real estate, private equity and credit. It invests directly and through its asset management business, Brookfield Asset Management, which serves institutional and individual investors.

The company’s operations and investments span multiple regions, including North America, South America, Europe and Asia-Pacific. Its portfolio includes renewable energy facilities, transportation and utility infrastructure, commercial and residential real estate, and businesses in a range of industries.

Brookfield traces its origins to 1899, when its predecessor, Brazilian Traction, Light and Power Company, was established to develop electricity and transportation services in Brazil.