Clearbridge Investments LLC Acquires 893,726 Shares of Brookfield Corporation $BN

Clearbridge Investments LLC grew its holdings in Brookfield Corporation (NYSE:BN) by 45.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,851,937 shares of the company’s stock after purchasing an additional 893,726 shares during the period. Clearbridge Investments LLC’s holdings in Brookfield were worth $130,875,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Savant Capital LLC increased its stake in shares of Brookfield by 6.5% in the 3rd quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock valued at $253,000 after purchasing an additional 226 shares during the last quarter. State of Wyoming increased its stake in shares of Brookfield by 7.8% in the 3rd quarter. State of Wyoming now owns 3,301 shares of the company’s stock valued at $227,000 after purchasing an additional 240 shares during the last quarter. Hilltop National Bank increased its stake in shares of Brookfield by 49.9% in the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after purchasing an additional 241 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Brookfield by 38.4% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 875 shares of the company’s stock valued at $60,000 after purchasing an additional 243 shares during the last quarter. Finally, New England Capital Financial Advisors LLC increased its stake in shares of Brookfield by 50.2% in the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock valued at $34,000 after purchasing an additional 251 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BN. Scotiabank reiterated an “outperform” rating and issued a $53.00 price target (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. JPMorgan Chase & Co. boosted their price objective on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research report on Friday, March 27th. National Bank Financial boosted their price objective on Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Finally, BMO Capital Markets boosted their price objective on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.82.

Brookfield Trading Down 0.0%

Shares of BN stock opened at $44.60 on Monday. The firm has a market capitalization of $109.30 billion, a P/E ratio of 87.45 and a beta of 1.53. Brookfield Corporation has a twelve month low of $37.93 and a twelve month high of $49.56. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. The stock’s fifty day simple moving average is $44.40 and its 200 day simple moving average is $44.89.

Brookfield Announces Dividend

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

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.