Lazard Asset Management LLC Has $34.34 Million Position in Brookfield Corporation $BN

Lazard Asset Management LLC lessened its stake in Brookfield Corporation (NYSE:BN) by 23.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 847,412 shares of the company’s stock after selling 264,177 shares during the period. Lazard Asset Management LLC’s holdings in Brookfield were worth $34,345,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of BN. Partners Value Investments L.P. boosted its position in Brookfield by 50.0% in the 4th quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company’s stock valued at $8,324,719,000 after buying an additional 60,468,651 shares during the last quarter. Dodge & Cox acquired a new stake in shares of Brookfield in the 4th quarter valued at $1,894,354,000. Royal Bank of Canada raised its position in shares of Brookfield by 40.5% during the fourth quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock worth $5,215,504,000 after acquiring an additional 32,760,558 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Brookfield by 52.1% during the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after acquiring an additional 31,543,313 shares during the last quarter. Finally, Capital World Investors lifted its stake in shares of Brookfield by 45.0% during the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock valued at $4,546,443,000 after acquiring an additional 30,755,354 shares during the period. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of Brookfield stock opened at $42.47 on Wednesday. The firm has a fifty day moving average of $44.02 and a two-hundred day moving average of $44.23. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The stock has a market capitalization of $104.09 billion, a price-to-earnings ratio of 83.26 and a beta of 1.54. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. Brookfield’s payout ratio is 54.90%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BN. JPMorgan Chase & Co. raised their price target on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. National Bank Financial boosted their price objective on Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. TD Securities restated a “buy” rating and set a $60.00 target price on shares of Brookfield in a research report on Tuesday, May 19th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research note on Wednesday, June 24th. Finally, Scotia raised their target price on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.64.

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.