Mraz Amerine & Associates Inc. Purchases 50,255 Shares of Brookfield Corporation $BN

Mraz Amerine & Associates Inc. increased its position in Brookfield Corporation (NYSE:BN) by 10.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 516,953 shares of the company’s stock after acquiring an additional 50,255 shares during the period. Brookfield makes up 2.9% of Mraz Amerine & Associates Inc.’s portfolio, making the stock its 9th biggest position. Mraz Amerine & Associates Inc.’s holdings in Brookfield were worth $18,848,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Bank of Nova Scotia grew its position 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 purchasing an additional 1,575,668 shares during the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Brookfield by 3.6% during the third quarter. TD Waterhouse Canada Inc. now owns 14,398,936 shares of the company’s stock valued at $522,741,000 after buying an additional 495,666 shares during the last quarter. Cardinal Capital Management Inc. boosted its position in shares of Brookfield by 2.3% during the third quarter. Cardinal Capital Management Inc. now owns 3,321,845 shares of the company’s stock worth $121,503,000 after buying an additional 74,218 shares during the period. Cannell & Spears LLC grew its holdings in Brookfield by 1.6% in the 1st quarter. Cannell & Spears LLC now owns 2,702,625 shares of the company’s stock worth $109,278,000 after buying an additional 42,859 shares in the last quarter. Finally, Amundi grew its holdings in Brookfield by 14.1% in the 1st quarter. Amundi now owns 2,696,723 shares of the company’s stock worth $109,136,000 after buying an additional 333,843 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on BN. TD raised their target price on Brookfield from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Zacks Research cut Brookfield from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. Morgan Stanley set a $59.00 price target on Brookfield and gave the company an “overweight” rating in a report on Tuesday, July 21st. Scotia lifted their price objective on shares of Brookfield from $53.00 to $54.00 and gave the company a “sector outperform” rating in a research note on Friday, August 14th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $54.00 price objective (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Brookfield has a consensus rating of “Moderate Buy” and a consensus price target of $57.40.

Brookfield Price Performance

NYSE BN opened at $40.59 on Wednesday. Brookfield Corporation has a 12 month low of $35.61 and a 12 month high of $49.56. The firm has a market capitalization of $99.53 billion, a PE ratio of 73.80 and a beta of 1.53. The company’s 50 day simple moving average is $38.17 and its 200 day simple moving average is $42.52. 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 issued its quarterly earnings results on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. As a group, equities research analysts forecast that Brookfield Corporation will post 2.88 EPS for the current fiscal year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were issued a $0.07 dividend. The ex-dividend date was Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Brookfield’s dividend payout ratio is 50.91%.

About Brookfield

Brookfield Corporation (NYSE: BN) is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.

Brookfield’s portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.