Radnor Capital Management LLC boosted its position in Brookfield Corporation (NYSE:BN – Free Report) by 47.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 52,136 shares of the company’s stock after buying an additional 16,871 shares during the quarter. Radnor Capital Management LLC’s holdings in Brookfield were worth $2,393,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Brookfield by 52.1% in the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after acquiring an additional 31,543,313 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Brookfield by 8,784.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 18,747,973 shares of the company’s stock valued at $860,344,000 after purchasing an additional 18,536,964 shares during the period. Principal Financial Group Inc. boosted its position in shares of Brookfield by 27.9% in the 4th quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock worth $2,985,224,000 after purchasing an additional 14,200,710 shares during the last quarter. Lone Pine Capital LLC boosted its position in shares of Brookfield by 81.1% in the 3rd quarter. Lone Pine Capital LLC now owns 10,181,348 shares of the company’s stock worth $698,237,000 after purchasing an additional 4,559,963 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Brookfield during the third quarter worth $171,104,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have weighed in on BN. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. Wall Street Zen upgraded shares of Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Scotiabank reissued an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a research report on Friday. Scotia boosted their price target on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a report on Friday. Finally, National Bank Financial upped their price objective on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Brookfield currently has an average rating of “Moderate Buy” and an average price target of $56.40.
Brookfield Stock Performance
Shares of BN stock opened at $45.07 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.20 and a current ratio of 1.32. Brookfield Corporation has a 52 week low of $37.54 and a 52 week high of $49.56. The company’s 50 day moving average price is $42.83 and its two-hundred day moving average price is $44.91. The company has a market capitalization of $110.47 billion, a P/E ratio of 88.38 and a beta of 1.55.
Brookfield Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. Brookfield’s payout ratio is currently 54.90%.
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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