Massachusetts Financial Services Co. MA Has $160.33 Million Holdings in Brookfield Corporation $BN

Massachusetts Financial Services Co. MA trimmed its stake in shares of Brookfield Corporation (NYSE:BN) by 6.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,337,893 shares of the company’s stock after selling 164,388 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Brookfield were worth $160,333,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BN. Norges Bank bought a new position in Brookfield in the 2nd quarter worth approximately $1,040,160,000. Lone Pine Capital LLC acquired a new stake in shares of Brookfield in the 2nd quarter valued at $347,683,000. Canada Pension Plan Investment Board raised its position in shares of Brookfield by 132.5% during the second quarter. Canada Pension Plan Investment Board now owns 6,540,631 shares of the company’s stock worth $405,065,000 after acquiring an additional 3,727,628 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in shares of Brookfield during the second quarter valued at $140,555,000. Finally, Geode Capital Management LLC boosted its holdings in Brookfield by 19.4% in the second quarter. Geode Capital Management LLC now owns 10,882,122 shares of the company’s stock valued at $679,852,000 after acquiring an additional 1,770,378 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BN has been the subject of several recent research reports. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Brookfield in a report on Monday, December 1st. TD Securities upped their price target on Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Zacks Research cut shares of Brookfield from a “hold” rating to a “strong sell” rating in a report on Thursday, December 11th. Morgan Stanley set a $54.00 target price on shares of Brookfield and gave the company an “overweight” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $53.87.

Brookfield Price Performance

Shares of NYSE BN opened at $47.38 on Tuesday. The company has a fifty day moving average price of $46.18 and a 200 day moving average price of $45.24. Brookfield Corporation has a 1-year low of $29.07 and a 1-year high of $49.56. The firm has a market cap of $117.35 billion, a PE ratio of 131.61 and a beta of 1.58. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.54.

Brookfield (NYSE:BN) last issued its quarterly earnings results on Thursday, November 13th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. Brookfield had a return on equity of 3.92% and a net margin of 1.34%.The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. Research analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Brookfield’s payout ratio is currently 66.67%.

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.