Intech Investment Management LLC Buys 12,445 Shares of Brookfield Corporation $BN

Intech Investment Management LLC lifted its stake in Brookfield Corporation (NYSE:BN) by 30.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,715 shares of the company’s stock after acquiring an additional 12,445 shares during the quarter. Intech Investment Management LLC’s holdings in Brookfield were worth $3,618,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Brookfield during the second quarter valued at approximately $1,040,160,000. Lone Pine Capital LLC purchased a new stake in Brookfield during the 2nd quarter valued at $347,683,000. Canada Pension Plan Investment Board lifted its holdings in shares of Brookfield by 132.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 6,540,631 shares of the company’s stock valued at $405,065,000 after buying an additional 3,727,628 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of Brookfield in the 2nd quarter worth $140,555,000. Finally, Geode Capital Management LLC grew its holdings in shares of Brookfield by 19.4% in the second quarter. Geode Capital Management LLC now owns 10,882,122 shares of the company’s stock worth $679,852,000 after acquiring an additional 1,770,378 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Down 3.6%

Shares of BN stock opened at $43.82 on Monday. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.32 and a quick ratio of 1.21. Brookfield Corporation has a one year low of $29.07 and a one year high of $49.56. The company’s fifty day moving average price is $46.59 and its 200-day moving average price is $45.74. The company has a market capitalization of $107.35 billion, a price-to-earnings ratio of 88.82 and a beta of 1.58.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. Brookfield had a return on equity of 3.87% and a net margin of 1.74%. Sell-side analysts expect that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. Brookfield’s payout ratio is currently 48.98%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on BN shares. TD Securities increased their target price on Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 14th. National Bank Financial increased their price objective on shares of Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. Zacks Research raised shares of Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $52.00 target price (up from $50.67) on shares of Brookfield in a report on Friday, November 14th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $54.59.

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.