Needham Investment Management LLC Has $3.19 Million Holdings in Brookfield Corporation $BN

Needham Investment Management LLC raised its position in shares of Brookfield Corporation (NYSE:BN) by 50.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,440 shares of the company’s stock after buying an additional 23,146 shares during the quarter. Needham Investment Management LLC’s holdings in Brookfield were worth $3,187,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in BN. OMERS ADMINISTRATION Corp boosted its stake in Brookfield by 50.0% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 3,476,683 shares of the company’s stock worth $159,545,000 after purchasing an additional 1,158,894 shares during the period. Seneschal Advisors LLC boosted its position in Brookfield by 49.9% during the fourth quarter. Seneschal Advisors LLC now owns 1,012 shares of the company’s stock valued at $46,000 after purchasing an additional 337 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in Brookfield by 50.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 1,200 shares of the company’s stock valued at $55,000 after purchasing an additional 400 shares during the last quarter. Truvestments Capital LLC lifted its holdings in shares of Brookfield by 49.9% during the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after buying an additional 213 shares during the last quarter. Finally, USS Investment Management Ltd raised its position in Brookfield by 50.0% during the fourth quarter. USS Investment Management Ltd now owns 322,054 shares of the company’s stock valued at $14,831,000 after acquiring an additional 107,351 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on BN shares. TD increased 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. Morgan Stanley reiterated an “overweight” rating and set a $61.00 price target (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. Royal Bank Of Canada lowered their price objective on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Scotia increased their price target on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a report on Friday, May 15th. Finally, JPMorgan Chase & Co. boosted their price target on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. One equities 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 company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.82.

Brookfield Price Performance

Shares of BN stock opened at $45.70 on Tuesday. The firm’s 50 day moving average price is $45.02 and its two-hundred day moving average price is $44.92. 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 $112.01 billion, a PE ratio of 89.61 and a beta of 1.53. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56.

Brookfield Announces Dividend

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

Brookfield Company 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.