WCM Investment Management LLC Has $6.39 Million Stock Position in Brookfield Corporation $BN

WCM Investment Management LLC boosted its holdings in shares of Brookfield Corporation (NYSE:BN) by 15.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 92,469 shares of the company’s stock after acquiring an additional 12,308 shares during the quarter. WCM Investment Management LLC’s holdings in Brookfield were worth $6,393,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BN. Principal Financial Group Inc. boosted its holdings in shares of Brookfield by 1.6% during the third quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company’s stock worth $3,487,338,000 after purchasing an additional 799,440 shares during the period. Akre Capital Management LLC lifted its position in Brookfield by 0.7% in the 2nd quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company’s stock worth $1,188,713,000 after buying an additional 125,269 shares in the last quarter. Norges Bank purchased a new stake in Brookfield in the 2nd quarter worth approximately $1,040,160,000. Mackenzie Financial Corp boosted its stake in shares of Brookfield by 1.6% during the 2nd quarter. Mackenzie Financial Corp now owns 16,319,256 shares of the company’s stock valued at $1,010,616,000 after buying an additional 249,913 shares during the period. Finally, Bank of Nova Scotia grew its holdings in shares of Brookfield by 13.3% during the 2nd quarter. Bank of Nova Scotia now owns 13,263,185 shares of the company’s stock valued at $820,569,000 after acquiring an additional 1,556,042 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on BN shares. Zacks Research upgraded Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. TD Securities upped their target price on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Morgan Stanley reiterated an “overweight” rating and set a $58.00 price target on shares of Brookfield in a report on Tuesday, January 27th. BMO Capital Markets restated an “outperform” rating and issued a $49.00 price objective (up previously from $46.00) on shares of Brookfield in a report on Wednesday, December 17th. Finally, Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a research report on Saturday. Two research analysts have 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.com, Brookfield currently has a consensus rating of “Buy” and a consensus target price of $54.27.

Brookfield Stock Performance

Shares of NYSE BN opened at $44.60 on Wednesday. The business’s 50-day simple moving average is $46.59 and its 200-day simple moving average is $45.51. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31. Brookfield Corporation has a 52 week low of $29.07 and a 52 week high of $49.56. The firm has a market cap of $110.46 billion, a price-to-earnings ratio of 123.89 and a beta of 1.57.

Brookfield (NYSE:BN) last announced its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. As a group, equities research analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

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

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.