Brookfield Corporation $BN Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Brookfield Corporation (NYSE:BN) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 564,039 shares of the company’s stock after selling 26,720 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Brookfield were worth $34,886,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Pershing Square Capital Management L.P. grew its holdings in Brookfield by 17.5% during the 1st quarter. Pershing Square Capital Management L.P. now owns 41,004,657 shares of the company’s stock valued at $2,149,054,000 after purchasing an additional 6,111,593 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Brookfield by 83.3% during the first quarter. Goldman Sachs Group Inc. now owns 7,699,178 shares of the company’s stock valued at $403,514,000 after acquiring an additional 3,500,003 shares in the last quarter. Regents of The University of California increased its position in shares of Brookfield by 123.1% during the first quarter. Regents of The University of California now owns 5,986,137 shares of the company’s stock worth $313,733,000 after acquiring an additional 3,303,102 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Brookfield by 31.0% during the first quarter. Baillie Gifford & Co. now owns 4,816,082 shares of the company’s stock worth $252,411,000 after acquiring an additional 1,140,558 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Brookfield by 1.6% in the first quarter. Vanguard Group Inc. now owns 60,892,877 shares of the company’s stock worth $3,186,707,000 after acquiring an additional 988,419 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BN shares. JPMorgan Chase & Co. raised their price objective on Brookfield from $48.67 to $55.33 and gave the company an “overweight” rating in a research note on Friday, October 3rd. BMO Capital Markets increased their target price on Brookfield from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. The Goldman Sachs Group started coverage on shares of Brookfield in a research report on Tuesday, September 2nd. They set a “buy” rating and a $52.00 price target for the company. Wall Street Zen raised shares of Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Scotiabank increased their price objective on shares of Brookfield from $46.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 30th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Brookfield currently has a consensus rating of “Buy” and a consensus price target of $52.63.

Brookfield Trading Down 6.9%

Brookfield stock opened at $43.64 on Friday. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.47. The firm’s 50-day moving average is $45.68 and its 200-day moving average is $42.76. The company has a debt-to-equity ratio of 1.50, a quick ratio of 1.18 and a current ratio of 1.29. The company has a market cap of $108.01 billion, a P/E ratio of 152.24 and a beta of 1.73.

Brookfield Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, December 16th. Brookfield’s payout ratio is presently 82.76%.

Brookfield Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.