Massachusetts Financial Services Co. MA Buys 1,185,399 Shares of Brookfield Corporation $BN

Massachusetts Financial Services Co. MA grew its stake in Brookfield Corporation (NYSE:BN) by 50.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,523,292 shares of the company’s stock after purchasing an additional 1,185,399 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.14% of Brookfield worth $161,684,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BN. Chemistry Wealth Management LLC lifted its stake in shares of Brookfield by 51.6% during the 4th quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock worth $20,082,000 after acquiring an additional 148,893 shares during the last quarter. PCJ Investment Counsel Ltd. lifted its stake in shares of Brookfield by 110.2% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock worth $15,966,000 after acquiring an additional 122,040 shares during the last quarter. Triasima Portfolio Management inc. lifted its stake in shares of Brookfield by 9.0% during the 3rd quarter. Triasima Portfolio Management inc. now owns 288,866 shares of the company’s stock worth $19,825,000 after acquiring an additional 23,923 shares during the last quarter. Florida Trust Wealth Management Co lifted its stake in shares of Brookfield by 49.0% during the 4th quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock worth $53,986,000 after acquiring an additional 387,068 shares during the last quarter. Finally, Citigroup Inc. lifted its stake in shares of Brookfield by 49.5% during the 3rd quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock worth $45,817,000 after acquiring an additional 221,078 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BN has been the subject of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $60.00 price target on shares of Brookfield in a research note on Tuesday, February 17th. BMO Capital Markets lifted their target price on Brookfield from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a research report on Friday, March 27th. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Wall Street Zen raised Brookfield from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and an average price target of $54.20.

Brookfield Trading Up 0.1%

Shares of NYSE BN opened at $42.17 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The business has a fifty day simple moving average of $42.78 and a two-hundred day simple moving average of $44.85. The firm has a market cap of $103.34 billion, a PE ratio of 85.47 and a beta of 1.56. Brookfield Corporation has a twelve month low of $31.22 and a twelve month high of $49.56.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a return on equity of 3.90% and a net margin of 1.74%. Analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a $0.07 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s dividend payout ratio (DPR) is 57.14%.

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.