Ravenstone Capital Management Inc. Acquires 13,876 Shares of Brookfield Corporation $BN

Ravenstone Capital Management Inc. raised its holdings in Brookfield Corporation (NYSE:BN) by 5.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 271,521 shares of the company’s stock after buying an additional 13,876 shares during the period. Brookfield comprises about 5.5% of Ravenstone Capital Management Inc.’s holdings, making the stock its 7th largest position. Ravenstone Capital Management Inc.’s holdings in Brookfield were worth $10,968,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Rathbones Group PLC lifted its holdings in shares of Brookfield by 5.5% in the first quarter. Rathbones Group PLC now owns 48,475 shares of the company’s stock valued at $1,958,000 after purchasing an additional 2,518 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Brookfield during the first quarter worth $9,564,000. Western Wealth Management LLC bought a new stake in Brookfield during the first quarter worth $93,000. Janus Henderson Group PLC raised its position in Brookfield by 7.4% in the 1st quarter. Janus Henderson Group PLC now owns 341,520 shares of the company’s stock valued at $13,810,000 after buying an additional 23,460 shares during the last quarter. Finally, Arkadios Wealth Advisors raised its position in Brookfield by 15.0% in the 1st quarter. Arkadios Wealth Advisors now owns 18,206 shares of the company’s stock valued at $737,000 after buying an additional 2,368 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Up 0.0%

BN stock opened at $42.55 on Monday. The stock has a market cap of $104.32 billion, a P/E ratio of 83.43 and a beta of 1.54. 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 stock’s fifty day simple moving average is $43.83 and its two-hundred day simple moving average is $44.11. Brookfield Corporation has a 1-year low of $37.93 and a 1-year high of $49.56.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 15th. Brookfield’s payout ratio is presently 54.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Royal Bank Of Canada cut their price objective on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. BMO Capital Markets upgraded shares of Brookfield to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Finally, National Bank Financial upped their price objective on shares of Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Brookfield presently has a consensus rating of “Buy” and an average target price of $56.64.

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.