Picton Mahoney Asset Management Buys Shares of 2,280,199 Brookfield Corporation $BN

Picton Mahoney Asset Management acquired a new stake in Brookfield Corporation (NYSE:BN) during the second quarter, Holdings Channel reports. The fund acquired 2,280,199 shares of the company’s stock, valued at approximately $140,555,000. Brookfield accounts for approximately 1.4% of Picton Mahoney Asset Management’s investment portfolio, making the stock its 8th largest position.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in Brookfield by 7.4% in the 2nd quarter. GAMMA Investing LLC now owns 2,451 shares of the company’s stock valued at $152,000 after acquiring an additional 169 shares during the last quarter. SG Americas Securities LLC boosted its stake in Brookfield by 4.1% during the second quarter. SG Americas Securities LLC now owns 4,333 shares of the company’s stock worth $268,000 after buying an additional 172 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Brookfield by 7.1% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,957 shares of the company’s stock worth $183,000 after acquiring an additional 197 shares during the last quarter. Chicago Capital LLC grew its holdings in shares of Brookfield by 0.4% in the second quarter. Chicago Capital LLC now owns 56,563 shares of the company’s stock valued at $3,498,000 after purchasing an additional 200 shares during the period. Finally, Rochester Wealth Strategies LLC grew its holdings in shares of Brookfield by 3.0% in the second quarter. Rochester Wealth Strategies LLC now owns 7,825 shares of the company’s stock valued at $484,000 after purchasing an additional 225 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of BN stock opened at $44.72 on Monday. Brookfield Corporation has a 52 week low of $29.07 and a 52 week high of $49.47. The stock has a market capitalization of $110.68 billion, a PE ratio of 156.00 and a beta of 1.73. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 1.50. The firm has a 50 day moving average of $45.54 and a two-hundred day moving average of $43.16.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.58 billion. On average, research analysts predict that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a $0.06 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Brookfield’s dividend payout ratio is presently 66.67%.

Analyst Ratings Changes

Several analysts have recently weighed in on BN shares. The Goldman Sachs Group assumed coverage on shares of Brookfield in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $52.00 price target for the company. JPMorgan Chase & Co. upped their price target on Brookfield from $48.67 to $55.33 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Zacks Research cut Brookfield from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. National Bank Financial started coverage on shares of Brookfield in a research report on Tuesday, July 29th. They set an “outperform” rating and a $54.67 price target for the company. Finally, Royal Bank Of Canada lifted their target price on shares of Brookfield from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $53.47.

About Brookfield

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.