Investment Management Corp of Ontario Grows Stock Holdings in Brookfield Corporation $BN

Investment Management Corp of Ontario boosted its stake in shares of Brookfield Corporation (NYSE:BN) by 198.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 373,179 shares of the company’s stock after buying an additional 248,181 shares during the quarter. Investment Management Corp of Ontario’s holdings in Brookfield were worth $17,125,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in BN. Truvestments Capital LLC boosted its stake in shares of Brookfield by 49.9% during the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after acquiring an additional 213 shares in the last quarter. Hilltop National Bank increased its stake in Brookfield by 49.9% in the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after purchasing an additional 241 shares in the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in Brookfield by 38.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 875 shares of the company’s stock worth $60,000 after purchasing an additional 243 shares during the last quarter. New England Capital Financial Advisors LLC raised its holdings in Brookfield by 50.2% during the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after purchasing an additional 251 shares during the last quarter. Finally, Wealthfront Advisers LLC boosted its position in Brookfield by 7.7% during the third quarter. Wealthfront Advisers LLC now owns 3,659 shares of the company’s stock worth $251,000 after purchasing an additional 263 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BN shares. Scotia raised their price target on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. TD Securities reiterated a “buy” rating and issued a $60.00 price objective on shares of Brookfield in a research report on Tuesday, May 19th. Morgan Stanley reissued an “overweight” rating and issued a $61.00 price objective (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. Finally, Scotiabank restated an “outperform” rating and set a $53.00 target price (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. One research 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, Brookfield presently has an average rating of “Moderate Buy” and an average target price of $56.82.

Brookfield Stock Performance

NYSE BN opened at $44.75 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a fifty-two week low of $37.93 and a fifty-two week high of $49.56. The business has a fifty day moving average of $45.19 and a 200-day moving average of $44.90. The stock has a market cap of $109.68 billion, a price-to-earnings ratio of 87.74 and a beta of 1.53.

Brookfield Announces Dividend

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

Brookfield 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.