Geode Capital Management LLC Boosts Stock Holdings in Brookfield Corporation $BN

Geode Capital Management LLC increased its holdings in shares of Brookfield Corporation (NYSE:BN – Free Report) by 61.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,679,423 shares of the company’s stock after acquiring an additional 7,459,189 shares during the period. Geode Capital Management LLC owned approximately 0.79% of Brookfield worth $913,592,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Chemistry Wealth Management LLC lifted its holdings in Brookfield by 51.6% in the 4th quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock valued at $20,082,000 after purchasing an additional 148,893 shares in the last quarter. PCJ Investment Counsel Ltd. grew its holdings in Brookfield by 110.2% in the 3rd quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock valued at $15,966,000 after buying an additional 122,040 shares during the period. Florida Trust Wealth Management Co grew its holdings in Brookfield by 49.0% in the 4th quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock valued at $53,986,000 after buying an additional 387,068 shares during the period. Citigroup Inc. grew its holdings in Brookfield by 49.5% in the 3rd quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock valued at $45,817,000 after buying an additional 221,078 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Brookfield by 52.1% in the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after buying an additional 31,543,313 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

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Brookfield Price Performance

Brookfield stock opened at $45.60 on Friday. Brookfield Corporation has a 52-week low of $37.83 and a 52-week high of $49.56. The firm has a fifty day moving average of $43.83 and a 200-day moving average of $44.90. The firm has a market capitalization of $111.74 billion, a P/E ratio of 89.40 and a beta of 1.55. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54.

Brookfield Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. TD lifted their price target on shares of Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. TD Securities reiterated a “buy” rating and issued a $60.00 price target on shares of Brookfield in a report on Tuesday, May 19th. National Bank Financial lifted their price target on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Morgan Stanley restated an “overweight” rating and issued a $61.00 price objective (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. Finally, JPMorgan Chase & Co. raised their price objective on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.82.

View Our Latest Analysis on BN

Brookfield Company Profile

(Free Report)

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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