USS Investment Management Ltd Boosts Holdings in Brookfield Corporation $BN

USS Investment Management Ltd increased its stake in shares of Brookfield Corporation (NYSE:BN) by 50.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 322,054 shares of the company’s stock after buying an additional 107,351 shares during the period. USS Investment Management Ltd’s holdings in Brookfield were worth $14,831,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. MCF Advisors LLC purchased a new position in shares of Brookfield in the fourth quarter worth about $26,000. Quattro Advisors LLC purchased a new position in shares of Brookfield in the fourth quarter worth about $26,000. Exchange Traded Concepts LLC purchased a new position in shares of Brookfield in the fourth quarter worth about $27,000. Hilltop National Bank increased its stake in shares of Brookfield by 49.9% in the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after purchasing an additional 241 shares in the last quarter. Finally, New England Capital Financial Advisors LLC increased its stake in shares of Brookfield by 50.2% in the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after purchasing an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE:BN opened at $45.19 on Monday. The company has a 50 day moving average of $44.92 and a 200 day moving average of $44.92. The stock has a market cap of $110.74 billion, a P/E ratio of 88.60 and a beta of 1.53. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 15th. Brookfield’s payout ratio is currently 54.90%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BN. National Bank Financial lifted their target price on shares of Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. boosted their price objective on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. Scotia boosted their price objective on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research note on Friday, May 15th. Scotiabank reaffirmed an “outperform” rating and set a $53.00 price objective (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Finally, Royal Bank Of Canada reduced their price objective on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $56.82.

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.