Taylor Hoffman Capital Management LLC Buys 23,135 Shares of Brookfield Corporation $BN

Taylor Hoffman Capital Management LLC lifted its stake in Brookfield Corporation (NYSE:BN) by 49.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,518 shares of the company’s stock after purchasing an additional 23,135 shares during the quarter. Taylor Hoffman Capital Management LLC’s holdings in Brookfield were worth $3,190,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in BN. Vanguard Group Inc. boosted its position in shares of Brookfield by 52.1% in the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after purchasing an additional 31,543,313 shares in the last quarter. Norges Bank bought a new stake in shares of Brookfield in the 4th quarter worth approximately $1,227,555,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Brookfield by 8,784.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 18,747,973 shares of the company’s stock worth $860,344,000 after purchasing an additional 18,536,964 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Brookfield by 27.9% in the 4th quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock worth $2,985,224,000 after acquiring an additional 14,200,710 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in Brookfield by 46.3% in the 4th quarter. TD Asset Management Inc now owns 35,763,047 shares of the company’s stock worth $1,644,200,000 after acquiring an additional 11,323,960 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

BN has been the subject of a number of recent analyst reports. Scotiabank restated an “outperform” rating and issued a $53.00 price objective (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. Scotia boosted their price objective on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. National Bank Financial boosted their price objective on shares of Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. TD boosted their price objective on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Stock Performance

BN stock opened at $44.60 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20. Brookfield Corporation has a 1 year low of $37.93 and a 1 year high of $49.56. The company has a market cap of $109.30 billion, a P/E ratio of 87.45 and a beta of 1.53. The stock’s fifty day moving average price is $44.40 and its 200-day moving average price is $44.88.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, June 15th. Brookfield’s dividend payout ratio is 54.90%.

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.