37,027 Shares in Brookfield Corporation $BN Purchased by L & S Advisors Inc

L & S Advisors Inc acquired a new stake in shares of Brookfield Corporation (NYSE:BN) during the 3rd quarter, Holdings Channel reports. The fund acquired 37,027 shares of the company’s stock, valued at approximately $2,539,000.

A number of other institutional investors and hedge funds have also bought and sold shares of BN. Synovus Financial Corp raised its holdings in Brookfield by 1.0% in the third quarter. Synovus Financial Corp now owns 88,335 shares of the company’s stock worth $6,058,000 after buying an additional 880 shares during the last quarter. NewEdge Wealth LLC increased its position in shares of Brookfield by 63.8% during the third quarter. NewEdge Wealth LLC now owns 23,508 shares of the company’s stock valued at $1,612,000 after acquiring an additional 9,154 shares in the last quarter. Syon Capital LLC raised its holdings in Brookfield by 21.1% in the 3rd quarter. Syon Capital LLC now owns 13,461 shares of the company’s stock worth $923,000 after acquiring an additional 2,346 shares during the last quarter. Vanguard Group Inc. lifted its position in Brookfield by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 60,559,807 shares of the company’s stock valued at $4,155,251,000 after acquiring an additional 897,916 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Brookfield by 22.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,572,428 shares of the company’s stock valued at $450,737,000 after acquiring an additional 1,186,839 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Price Performance

NYSE BN opened at $47.44 on Thursday. 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 firm has a market capitalization of $117.49 billion, a P/E ratio of 96.16 and a beta of 1.57. The company has a 50-day moving average price of $46.61 and a 200-day moving average price of $45.67. Brookfield Corporation has a 52 week low of $29.07 and a 52 week high of $49.56.

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

Brookfield Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.6%. This is a boost from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. Brookfield’s dividend payout ratio (DPR) is presently 57.14%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BN shares. Scotiabank reissued an “outperform” rating and issued a $52.00 target price (up previously from $49.00) on shares of Brookfield in a report on Friday, February 13th. Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. National Bank Financial upped their target price on shares of Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, February 4th. Canadian Imperial Bank of Commerce reiterated 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, TD Securities increased their price objective on shares of Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus price target 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.