Madison Asset Management LLC Takes Position in Brookfield Corporation $BN

Madison Asset Management LLC bought a new stake in shares of Brookfield Corporation (NYSE:BN) during the 2nd quarter, HoldingsChannel reports. The firm bought 1,306,755 shares of the company’s stock, valued at approximately $55,655,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC boosted its holdings in Brookfield by 49.9% in the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after acquiring an additional 213 shares during the period. Meadow Creek Wealth Advisors LLC raised its stake in shares of Brookfield by 2.3% during the first quarter. Meadow Creek Wealth Advisors LLC now owns 10,308 shares of the company’s stock valued at $417,000 after purchasing an additional 234 shares during the period. New England Capital Financial Advisors LLC raised its stake in shares of Brookfield by 50.2% during the fourth 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 period. ST Germain D J Co. Inc. lifted its position in shares of Brookfield by 49.9% during the fourth quarter. ST Germain D J Co. Inc. now owns 811 shares of the company’s stock worth $37,000 after purchasing an additional 270 shares in the last quarter. Finally, State of Wyoming lifted its position in shares of Brookfield by 6.0% during the first quarter. State of Wyoming now owns 5,151 shares of the company’s stock worth $208,000 after purchasing an additional 290 shares in the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Price Performance

Shares of NYSE BN opened at $42.18 on Thursday. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. The company has a market capitalization of $103.41 billion, a price-to-earnings ratio of 76.69 and a beta of 1.54. Brookfield Corporation has a twelve month low of $37.93 and a twelve month high of $49.56. The business has a 50 day simple moving average of $43.48 and a 200-day simple moving average of $43.83.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. As a group, equities research analysts expect that Brookfield Corporation will post 2.99 earnings per share for the current year.

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, September 14th. Brookfield’s dividend payout ratio (DPR) is presently 50.91%.

Analysts Set New Price Targets

A number of research firms recently weighed in on BN. Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the company an “overweight” rating in a report on Tuesday, July 21st. Scotia boosted their price objective on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a report on Friday, August 14th. TD Securities reissued a “buy” rating and issued a $60.00 price objective on shares of Brookfield in a research report on Tuesday, May 19th. BMO Capital Markets upgraded Brookfield to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Royal Bank Of Canada dropped their target price on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $56.91.

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.