Luma Capital S.A. SPF bought a new stake in Brookfield Corporation (NYSE:BN – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 269,562 shares of the company’s stock, valued at approximately $9,828,000. Brookfield comprises about 8.1% of Luma Capital S.A. SPF’s investment portfolio, making the stock its 7th largest holding.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BN. Cardinal Capital Management Inc. raised its position in shares of Brookfield by 2.5% in the 2nd quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company’s stock valued at $138,287,000 after purchasing an additional 80,738 shares during the last quarter. Headlands Technologies LLC boosted its stake in Brookfield by 181.4% in the 2nd quarter. Headlands Technologies LLC now owns 91,785 shares of the company’s stock worth $3,909,000 after purchasing an additional 59,166 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in Brookfield by 520.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 47,684 shares of the company’s stock worth $2,031,000 after purchasing an additional 39,994 shares in the last quarter. TD Waterhouse Canada Inc. grew its position in Brookfield by 1.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company’s stock worth $595,676,000 after purchasing an additional 248,479 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Brookfield during the 2nd quarter worth approximately $5,498,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.
Wall Street Analyst Weigh In
BN has been the topic of a number of recent analyst reports. Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Scotia lifted their price objective on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 14th. Zacks Research lowered shares of Brookfield from a “hold” rating to a “strong sell” rating in a report on Monday. BMO Capital Markets raised Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $57.40.
Check Out Our Latest Stock Report on Brookfield
Brookfield Stock Performance
BN opened at $37.33 on Wednesday. Brookfield Corporation has a 12-month low of $35.61 and a 12-month high of $49.56. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $91.52 billion, a PE ratio of 67.86 and a beta of 1.56. The firm has a 50 day moving average of $38.92 and a two-hundred day moving average of $42.36.
Brookfield (NYSE:BN – Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04. The business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. On average, analysts anticipate that Brookfield Corporation will post 2.88 EPS for the current year.
Brookfield Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, September 14th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, September 14th. Brookfield’s dividend payout ratio (DPR) is 50.91%.
Brookfield Company Profile
Brookfield Corporation (NYSE: BN) is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.
Brookfield’s portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.
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