Manitou Investment Management Ltd. Purchases 28,166 Shares of Brookfield Corporation $BN

Manitou Investment Management Ltd. lifted its position in shares of Brookfield Corporation (NYSE:BN) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,503 shares of the company’s stock after acquiring an additional 28,166 shares during the quarter. Brookfield makes up about 0.7% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 14th largest position. Manitou Investment Management Ltd.’s holdings in Brookfield were worth $3,878,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Chemistry Wealth Management LLC grew its stake in shares of Brookfield by 51.6% during the fourth quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock worth $20,082,000 after purchasing an additional 148,893 shares during the period. PCJ Investment Counsel Ltd. increased its holdings in Brookfield by 110.2% in the third quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock valued at $15,966,000 after purchasing an additional 122,040 shares during the last quarter. Florida Trust Wealth Management Co increased its holdings in Brookfield by 49.0% in the fourth quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock valued at $53,986,000 after purchasing an additional 387,068 shares during the last quarter. Citigroup Inc. increased its holdings in Brookfield by 49.5% in the third quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock valued at $45,817,000 after purchasing an additional 221,078 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Brookfield by 52.1% in the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after purchasing an additional 31,543,313 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BN. BMO Capital Markets boosted their target price on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. boosted their target price on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Morgan Stanley restated an “overweight” rating and set a $61.00 target price (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research report on Friday, March 27th. Finally, Royal Bank Of Canada decreased their price target on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Price Performance

BN stock opened at $43.88 on Thursday. The stock has a 50-day moving average price of $44.19 and a two-hundred day moving average price of $44.87. The stock has a market cap of $107.53 billion, a PE ratio of 86.03 and a beta of 1.53. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 1 year low of $37.93 and a 1 year high of $49.56.

Brookfield Dividend Announcement

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

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.