Investment House LLC Makes New Investment in Brookfield Corporation $BN

by · The Cerbat Gem

Investment House LLC purchased a new position in shares of Brookfield Corporation (NYSE:BN – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 46,728 shares of the company’s stock, valued at approximately $2,890,000.

Other institutional investors have also made changes to their positions in the company. BNP Paribas grew its stake in shares of Brookfield by 0.6% in the 2nd quarter. BNP Paribas now owns 190,371 shares of the company’s stock valued at $11,745,000 after buying an additional 1,146 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Brookfield by 169.6% in the second quarter. NewEdge Advisors LLC now owns 6,707 shares of the company’s stock valued at $415,000 after acquiring an additional 4,219 shares during the last quarter. Stamos Capital Partners L.P. lifted its stake in Brookfield by 60.2% in the second quarter. Stamos Capital Partners L.P. now owns 92,358 shares of the company’s stock valued at $5,712,000 after acquiring an additional 34,712 shares during the last quarter. AXA S.A. grew its position in Brookfield by 42.2% in the second quarter. AXA S.A. now owns 103,531 shares of the company’s stock worth $6,403,000 after acquiring an additional 30,703 shares in the last quarter. Finally, Lombard Odier Asset Management Switzerland SA increased its stake in shares of Brookfield by 43.9% during the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 56,307 shares of the company’s stock worth $3,488,000 after purchasing an additional 17,180 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BN has been the subject of several analyst reports. Zacks Research lowered shares of Brookfield from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. The Goldman Sachs Group began coverage on Brookfield in a research report on Tuesday, September 2nd. They issued a “buy” rating and a $52.00 price target for the company. CIBC reiterated an “outperform” rating and set a $52.00 price target (up previously from $50.67) on shares of Brookfield in a research note on Friday, November 14th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Finally, Wall Street Zen lowered Brookfield from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, Brookfield currently has a consensus rating of “Buy” and a consensus target price of $53.47.

Check Out Our Latest Stock Report on BN

Brookfield Trading Up 1.6%

Brookfield stock opened at $47.47 on Thursday. Brookfield Corporation has a 52 week low of $29.07 and a 52 week high of $49.47. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31. The firm has a market capitalization of $117.52 billion, a PE ratio of 131.85 and a beta of 1.57. The business’s 50-day simple moving average is $45.54 and its 200-day simple moving average is $43.82.

Brookfield (NYSE:BN – Get Free Report) last released its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Brookfield had a return on equity of 3.92% and a net margin of 1.34%. Equities research analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. Brookfield’s dividend payout ratio (DPR) is presently 66.67%.

Brookfield Company Profile

(Free Report)

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.

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