Tsai Capital Corp bought a new stake in shares of Brookfield Corporation (NYSE:BN – Free Report) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 240,868 shares of the company’s stock, valued at approximately $11,053,000. Brookfield accounts for 7.5% of Tsai Capital Corp’s investment portfolio, making the stock its 4th biggest position.
Several other hedge funds have also recently added to or reduced their stakes in BN. AQR Capital Management LLC boosted its stake 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 period. NewEdge Advisors LLC boosted its stake in Brookfield by 13.5% during the 1st quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock valued at $130,000 after purchasing an additional 295 shares during the period. Sivia Capital Partners LLC boosted its stake in Brookfield by 32.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock valued at $353,000 after purchasing an additional 1,396 shares during the period. AXA S.A. raised its holdings in Brookfield by 42.2% in the 2nd quarter. AXA S.A. now owns 103,531 shares of the company’s stock valued at $6,403,000 after acquiring an additional 30,703 shares in the last quarter. Finally, Squarepoint Ops LLC raised its holdings in Brookfield by 29.6% in the 2nd quarter. Squarepoint Ops LLC now owns 25,502 shares of the company’s stock valued at $1,577,000 after acquiring an additional 5,821 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.
Brookfield Trading Down 1.7%
Shares of BN opened at $46.29 on Tuesday. Brookfield Corporation has a 1 year low of $37.54 and a 1 year high of $49.56. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.51. The stock has a 50 day simple moving average of $42.58 and a 200-day simple moving average of $44.92. The stock has a market cap of $113.45 billion, a PE ratio of 93.83 and a beta of 1.55.
Brookfield Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, March 17th. This is a boost from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s payout ratio is currently 57.14%.
Wall Street Analyst Weigh In
Several equities analysts have commented on BN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. BMO Capital Markets upped their price target on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Morgan Stanley reaffirmed an “overweight” rating and issued a $61.00 price target (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. Finally, Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.65.
Check Out Our Latest Stock Analysis on BN
Brookfield 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.
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