Brookfield Corporation $BN Shares Bought by Elm Partners Management LLC

Elm Partners Management LLC lifted its holdings in Brookfield Corporation (NYSE:BN) by 50.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 69,811 shares of the company’s stock after acquiring an additional 23,270 shares during the quarter. Elm Partners Management LLC’s holdings in Brookfield were worth $3,204,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in BN. Vanguard Group Inc. grew its stake in shares of Brookfield by 52.1% in the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after purchasing an additional 31,543,313 shares during the last quarter. Norges Bank acquired a new position in shares of Brookfield in the 4th quarter worth approximately $1,227,555,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Brookfield by 8,784.9% in the fourth 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 in the last quarter. Principal Financial Group Inc. increased its position in shares of Brookfield by 27.9% in the fourth 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 in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Brookfield by 61.0% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

BN stock opened at $45.60 on Monday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The stock has a market cap of $111.74 billion, a P/E ratio of 89.40 and a beta of 1.53. The firm has a 50 day simple moving average of $43.83 and a 200 day simple moving average of $44.89. Brookfield Corporation has a 52 week low of $37.83 and a 52 week high of $49.56.

Brookfield Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BN shares. TD Securities reissued a “buy” rating and issued a $60.00 target price on shares of Brookfield in a research report on Tuesday, May 19th. TD lifted their target price 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. Scotiabank reissued an “outperform” rating and issued a $53.00 target price (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. BMO Capital Markets lifted their target price 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Friday, March 27th. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.82.

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.