Brookfield Corporation $BN Shares Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management raised its position in shares of Brookfield Corporation (NYSE:BN) by 15.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,629,023 shares of the company’s stock after purchasing an additional 348,824 shares during the quarter. Brookfield comprises 1.6% of Picton Mahoney Asset Management’s portfolio, making the stock its 5th largest holding. Picton Mahoney Asset Management owned about 0.11% of Brookfield worth $180,351,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC bought a new position in Brookfield during the second quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC raised its position in Brookfield by 109.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after acquiring an additional 330 shares in the last quarter. First Horizon Corp bought a new position in shares of Brookfield during the 3rd quarter valued at about $40,000. Versant Capital Management Inc grew its stake in shares of Brookfield by 507.5% in the 3rd quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $45,000 after purchasing an additional 543 shares during the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Brookfield in the 2nd quarter worth approximately $51,000. Institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Royal Bank Of Canada raised their target price on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. National Bank Financial increased their price objective on Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $52.00 target price (up from $50.67) on shares of Brookfield in a report on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. Finally, TD Securities increased their price target on Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 14th. One research 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.59.

Brookfield Price Performance

Shares of NYSE:BN opened at $43.06 on Wednesday. The company’s fifty day moving average is $46.49 and its two-hundred day moving average is $45.73. The company has a market cap of $105.49 billion, a P/E ratio of 87.28 and a beta of 1.58. Brookfield Corporation has a 12-month low of $29.07 and a 12-month high of $49.56. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.48.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. Brookfield had a return on equity of 3.87% and a net margin of 1.74%. Equities analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a $0.07 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s dividend payout ratio is currently 48.98%.

Brookfield Company Profile

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.