First Manhattan CO. LLC. raised its stake in Brookfield Corporation (NYSE:BN – Free Report) by 47.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 23,795,141 shares of the company’s stock after buying an additional 7,662,565 shares during the quarter. Brookfield comprises approximately 2.9% of First Manhattan CO. LLC.’s investment portfolio, making the stock its 6th biggest position. First Manhattan CO. LLC.’s holdings in Brookfield were worth $1,093,985,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BN. Chemistry Wealth Management LLC raised its holdings in shares of Brookfield by 51.6% during the 4th quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock worth $20,082,000 after buying an additional 148,893 shares in the last quarter. PCJ Investment Counsel Ltd. boosted its stake in Brookfield by 110.2% in the third 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 in the last quarter. Florida Trust Wealth Management Co grew its position in Brookfield by 49.0% in the fourth quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock valued at $53,986,000 after acquiring an additional 387,068 shares during the last quarter. Citigroup Inc. raised its stake in Brookfield by 49.5% during the third quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock worth $45,817,000 after acquiring an additional 221,078 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Brookfield by 52.1% during the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after acquiring an additional 31,543,313 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.
Brookfield Price Performance
Brookfield stock opened at $44.75 on Thursday. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $109.68 billion, a PE ratio of 87.74 and a beta of 1.53. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56. The stock has a 50-day moving average price of $45.19 and a two-hundred day moving average price of $44.90.
Brookfield Dividend Announcement
Analysts Set New Price Targets
Several research analysts have commented on BN shares. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. Morgan Stanley reissued an “overweight” rating and set a $61.00 target price (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. JPMorgan Chase & Co. boosted their target price on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Scotiabank reissued an “outperform” rating and set a $53.00 target price (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Finally, TD boosted their target price on Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.82.
Check Out Our Latest Analysis on Brookfield
About Brookfield
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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