River Road Asset Management LLC Grows Stake in Brookfield Corporation $BN

River Road Asset Management LLC grew its stake in shares of Brookfield Corporation (NYSE:BN) by 31.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,704,456 shares of the company’s stock after purchasing an additional 411,311 shares during the quarter. River Road Asset Management LLC owned 0.07% of Brookfield worth $78,217,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. MCF Advisors LLC purchased a new stake in shares of Brookfield during the 4th quarter valued at about $26,000. Quattro Advisors LLC purchased a new position in Brookfield in the 4th quarter worth approximately $26,000. Exchange Traded Concepts LLC purchased a new position in Brookfield in the 4th quarter worth approximately $27,000. Truvestments Capital LLC grew its position in Brookfield by 49.9% in the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after acquiring an additional 213 shares in the last quarter. Finally, Hilltop National Bank grew its position in Brookfield by 49.9% in the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after acquiring an additional 241 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Analyst Ratings Changes

BN has been the topic of a number of recent analyst reports. TD Securities reiterated a “buy” rating and issued a $60.00 price objective on shares of Brookfield in a report on Tuesday, May 19th. JPMorgan Chase & Co. lifted their target price on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada cut their price target on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note 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, Scotiabank restated an “outperform” rating and set a $53.00 price objective (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $56.82.

Brookfield Trading Down 0.5%

NYSE BN opened at $44.50 on Friday. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20. The company has a market capitalization of $109.08 billion, a price-to-earnings ratio of 87.25 and a beta of 1.53. The company’s fifty day moving average price is $45.26 and its two-hundred day moving average price is $44.88.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.07 dividend. 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 dividend payout ratio is 54.90%.

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.