Public Employees Retirement System of Ohio Purchases Shares of 128,920 Brookfield Corporation $BN

Public Employees Retirement System of Ohio acquired a new position in Brookfield Corporation (NYSE:BN) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 128,920 shares of the company’s stock, valued at approximately $5,498,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. MCF Advisors LLC acquired a new stake in shares of Brookfield in the fourth quarter valued at $26,000. Quattro Advisors LLC purchased a new stake in Brookfield during the 4th quarter valued at approximately $26,000. Truvestments Capital LLC lifted its stake in shares of Brookfield by 49.9% in the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after acquiring an additional 213 shares during the period. Entrust Financial LLC purchased a new position in shares of Brookfield during the 4th quarter worth approximately $35,000. Finally, Delta Asset Management LLC TN lifted its stake in shares of Brookfield by 49.8% in the fourth quarter. Delta Asset Management LLC TN now owns 935 shares of the company’s stock valued at $43,000 after purchasing an additional 311 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

NYSE:BN opened at $39.75 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54. The business’s 50-day moving average price is $42.81 and its 200 day moving average price is $43.49. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56. The firm has a market cap of $97.45 billion, a P/E ratio of 72.27 and a beta of 1.53.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.66 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. As a group, sell-side analysts predict that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Brookfield’s dividend payout ratio (DPR) is currently 50.91%.

Analyst Upgrades and Downgrades

BN has been the subject of a number of analyst reports. Scotiabank reissued an “outperform” rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. TD Securities reiterated a “buy” rating and issued a $60.00 price target on shares of Brookfield in a report on Tuesday, May 19th. JPMorgan Chase & Co. boosted their target price on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. National Bank Financial lifted their price target 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. Finally, Morgan Stanley set a $59.00 target price on Brookfield and gave the stock an “overweight” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.40.

Brookfield 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.