Bruni J V & Co. Co. Boosts Position in Brookfield Corporation $BN

Bruni J V & Co. Co. boosted its holdings in shares of Brookfield Corporation (NYSE:BN) by 48.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,114,031 shares of the company’s stock after acquiring an additional 694,287 shares during the quarter. Brookfield accounts for about 9.5% of Bruni J V & Co. Co.’s portfolio, making the stock its largest position. Bruni J V & Co. Co.’s holdings in Brookfield were worth $97,013,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in BN. Vanguard Group Inc. grew its holdings in Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after acquiring an additional 31,543,313 shares during the last quarter. Norges Bank bought a new stake in Brookfield during the 4th quarter worth approximately $1,227,555,000. Northwestern Mutual Wealth Management Co. grew its holdings in Brookfield by 8,784.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 18,747,973 shares of the company’s stock worth $860,344,000 after acquiring an additional 18,536,964 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Brookfield by 27.9% during the 4th quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock worth $2,985,224,000 after acquiring an additional 14,200,710 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Brookfield by 61.0% during the 4th quarter. Geode Capital Management LLC now owns 19,679,423 shares of the company’s stock worth $913,592,000 after acquiring an additional 7,459,189 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Down 1.1%

Brookfield stock opened at $45.60 on Friday. 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 12-month low of $37.83 and a 12-month high of $49.56. The firm’s fifty day moving average is $43.83 and its 200 day moving average is $44.90. The company has a market capitalization of $111.74 billion, a PE ratio of 89.40 and a beta of 1.55.

Brookfield Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BN. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research report on Friday, March 27th. TD boosted their price target on shares of Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Morgan Stanley restated an “overweight” rating and issued a $61.00 price target (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. Scotia boosted their price target on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. Finally, BMO Capital Markets boosted their price target on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $56.82.

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.