Brookfield Corporation $BN Shares Sold by Bruni J V & Co. Co.

Bruni J V & Co. Co. lowered its position in Brookfield Corporation (NYSE:BN) by 1.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,419,744 shares of the company’s stock after selling 22,839 shares during the period. Brookfield comprises 9.8% of Bruni J V & Co. Co.’s holdings, making the stock its largest position. Bruni J V & Co. Co. owned 0.06% of Brookfield worth $97,366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in shares of Brookfield by 49.5% in the third quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock worth $45,817,000 after acquiring an additional 221,078 shares in the last quarter. Hillsdale Investment Management Inc. grew its position in shares of Brookfield by 37.4% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 501,374 shares of the company’s stock valued at $34,393,000 after purchasing an additional 136,425 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in Brookfield by 160.9% during the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 9,614 shares of the company’s stock worth $659,000 after purchasing an additional 5,929 shares in the last quarter. Kovack Advisors Inc. increased its stake in Brookfield by 32.4% during the 3rd quarter. Kovack Advisors Inc. now owns 12,076 shares of the company’s stock worth $828,000 after purchasing an additional 2,954 shares in the last quarter. Finally, L & S Advisors Inc acquired a new stake in Brookfield during the 3rd quarter worth approximately $2,539,000. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BN shares. Morgan Stanley reissued an “overweight” rating and set a $60.00 price objective on shares of Brookfield in a research report on Tuesday. Scotiabank reaffirmed an “outperform” rating and issued a $52.00 target price (up from $49.00) on shares of Brookfield in a research note on Friday, February 13th. TD Securities lifted their price target on Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $54.59.

Brookfield Price Performance

NYSE:BN opened at $45.98 on Friday. Brookfield Corporation has a 52-week low of $29.07 and a 52-week high of $49.56. The company has a market cap of $112.65 billion, a P/E ratio of 93.21 and a beta of 1.57. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.21 and a current ratio of 1.32. The stock’s 50-day simple moving average is $46.61 and its 200 day simple moving average is $45.69.

Brookfield (NYSE:BN) last posted its quarterly 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 firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Brookfield had a return on equity of 3.87% and a net margin of 1.74%. As a group, sell-side analysts forecast that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.07 per share. The ex-dividend date is Tuesday, March 17th. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. Brookfield’s dividend payout ratio is presently 57.14%.

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.