51,719 Shares of Brookfield Corporation $BN Bought by Eleva Capital SAS

Eleva Capital SAS bought a new position in Brookfield Corporation (NYSE:BN) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 51,719 shares of the company’s stock, valued at approximately $1,886,000. Brookfield accounts for about 1.6% of Eleva Capital SAS’s investment portfolio, making the stock its 13th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BN. Royal Bank of Canada raised its position in shares of Brookfield by 40.5% in the fourth quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock valued at $5,215,504,000 after purchasing an additional 32,760,558 shares during the period. Akre Capital Management LLC grew its stake in Brookfield by 39.7% in the 4th quarter. Akre Capital Management LLC now owns 26,843,633 shares of the company’s stock valued at $1,231,854,000 after buying an additional 7,627,692 shares during the last quarter. First Manhattan CO. LLC. raised its holdings in Brookfield by 47.5% in the 4th quarter. First Manhattan CO. LLC. now owns 23,795,141 shares of the company’s stock worth $1,093,985,000 after acquiring an additional 7,662,565 shares during the period. Bank of Nova Scotia raised its holdings in Brookfield by 11.4% in the 1st quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock worth $621,443,000 after acquiring an additional 1,575,668 shares during the period. Finally, TD Waterhouse Canada Inc. lifted 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 acquiring an additional 248,479 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of NYSE BN traded up $0.29 during trading hours on Tuesday, reaching $37.12. The stock had a trading volume of 1,774,623 shares, compared to its average volume of 5,096,683. The company has a market cap of $91.03 billion, a price-to-earnings ratio of 67.51 and a beta of 1.56. Brookfield Corporation has a twelve month low of $35.69 and a twelve month high of $49.56. The business’s fifty day moving average is $40.39 and its two-hundred day moving average is $42.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. As a group, research analysts expect that Brookfield Corporation will post 2.93 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 paid a $0.07 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Brookfield’s payout ratio is presently 50.91%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BN shares. TD upped their price target on shares of Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a report on Friday, August 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Monday, September 21st. BMO Capital Markets raised Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. Morgan Stanley set a $59.00 target price on Brookfield and gave the company an “overweight” rating in a research note on Tuesday, July 21st. Finally, Scotia raised their target price on Brookfield from $53.00 to $54.00 and gave the company a “sector outperform” rating in a report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.40.

About Brookfield

Brookfield Corporation (NYSE: BN) is a global investment and asset management company with interests in real assets and related operating businesses. Through its platforms and affiliates, the company invests in and manages assets across renewable power and energy transition, infrastructure, real estate, private equity, and other alternative investment strategies.

Brookfield’s businesses develop, own, operate, and finance essential assets, including renewable energy facilities, utilities, transportation networks, data infrastructure, commercial and residential real estate, and industrial and business services companies.