Brookfield Corporation $BN Shares Newly Acquired by Magnolia Group LLC

Magnolia Group LLC bought a new position in shares of Brookfield Corporation (NYSE:BN) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 104,500 shares of the company’s stock, valued at approximately $3,810,000. Brookfield accounts for about 1.3% of Magnolia Group LLC’s holdings, making the stock its 18th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System increased its position in shares of Brookfield by 0.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 248,197 shares of the company’s stock valued at $9,126,000 after purchasing an additional 682 shares during the last quarter. Lido Advisors LLC grew its stake in shares of Brookfield by 10.9% during the third quarter. Lido Advisors LLC now owns 108,702 shares of the company’s stock worth $3,963,000 after purchasing an additional 10,651 shares in the last quarter. Keybank National Association OH increased its holdings in Brookfield by 2.2% in the third quarter. Keybank National Association OH now owns 27,033 shares of the company’s stock valued at $986,000 after buying an additional 586 shares during the last quarter. Beutel Goodman & Co Ltd. increased its holdings in Brookfield by 6.3% in the third quarter. Beutel Goodman & Co Ltd. now owns 6,573,596 shares of the company’s stock valued at $240,395,000 after buying an additional 386,889 shares during the last quarter. Finally, M&G PLC raised its stake in Brookfield by 18.2% in the third quarter. M&G PLC now owns 2,328,749 shares of the company’s stock valued at $83,835,000 after buying an additional 358,318 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on BN. TD boosted their target price on Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Friday, August 14th. Morgan Stanley set a $59.00 price target on Brookfield and gave the stock an “overweight” rating in a report on Tuesday, July 21st. Scotia upped their price objective on Brookfield from $53.00 to $54.00 and gave the company a “sector outperform” rating in a research note on Friday, August 14th. Scotiabank reaffirmed an “outperform” rating and set a $54.00 price objective (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Monday, September 21st. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Brookfield has a consensus rating of “Moderate Buy” and a consensus target price of $57.70.

Brookfield Stock Down 0.9%

Shares of Brookfield stock opened at $42.02 on Thursday. The company has a market cap of $103.05 billion, a P/E ratio of 76.40 and a beta of 1.53. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34. Brookfield Corporation has a one year low of $35.61 and a one year high of $49.56. The firm has a fifty day moving average of $38.29 and a two-hundred day moving average of $42.39.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. On average, analysts forecast that Brookfield Corporation will post 2.88 earnings per share for the current year.

Brookfield Company Profile

Brookfield Corporation is a global investment and operating company focused on owning and managing businesses and assets in sectors including renewable power, infrastructure, real estate, private equity and credit. It invests directly and through its asset management business, Brookfield Asset Management, which serves institutional and individual investors. The company’s operations and investments span multiple regions, including North America, South America, Europe and Asia-Pacific. Its portfolio includes renewable energy facilities, transportation and utility infrastructure, commercial and residential real estate, and businesses in a range of industries.