Third View Private Wealth LLC Invests $3.31 Million in Brookfield Corporation $BN

Third View Private Wealth LLC bought a new position in Brookfield Corporation (NYSE:BN) in the 4th quarter, HoldingsChannel reports. The fund bought 72,090 shares of the company’s stock, valued at approximately $3,308,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Savant Capital LLC boosted its position in shares of Brookfield by 6.5% in the third quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock worth $253,000 after buying an additional 226 shares during the period. State of Wyoming boosted its position in shares of Brookfield by 7.8% in the third quarter. State of Wyoming now owns 3,301 shares of the company’s stock worth $227,000 after buying an additional 240 shares during the period. Manitou Investment Management Ltd. boosted its position in shares of Brookfield by 0.4% in the third quarter. Manitou Investment Management Ltd. now owns 56,337 shares of the company’s stock worth $3,864,000 after buying an additional 241 shares during the period. Hilltop National Bank boosted its position in shares of Brookfield by 49.9% in the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after buying an additional 241 shares during the period. Finally, Cary Street Partners Investment Advisory LLC boosted its position in shares of Brookfield by 38.4% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 875 shares of the company’s stock worth $60,000 after buying an additional 243 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE:BN opened at $43.69 on Tuesday. Brookfield Corporation has a fifty-two week low of $31.62 and a fifty-two week high of $49.56. The business has a 50-day moving average of $42.72 and a two-hundred day moving average of $44.84. The stock has a market capitalization of $107.06 billion, a P/E ratio of 88.56 and a beta of 1.56. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.21.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a return on equity of 3.90% and a net margin of 1.74%.The company had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.63 billion. On average, equities research analysts predict that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were paid a $0.07 dividend. The ex-dividend date was Tuesday, March 17th. This is a boost from Brookfield’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. Brookfield’s dividend payout ratio is presently 57.14%.

Wall Street Analyst Weigh In

BN has been the subject of several recent analyst reports. Royal Bank Of Canada raised their target price on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Scotiabank reduced their price objective on Brookfield from $52.00 to $48.50 and set a “sector outperform” rating for the company in a research report on Wednesday, March 25th. Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. National Bank Financial lifted their price objective on Brookfield from $56.00 to $59.00 and gave the company an “outperform” rating in a research report on Wednesday, February 4th. Finally, Morgan Stanley reissued an “overweight” rating and set a $60.00 price objective on shares of Brookfield in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and a consensus price target of $54.20.

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.