Ervin Investment Management LLC Decreases Position in Brookfield Corporation $BN

Ervin Investment Management LLC lowered its stake in shares of Brookfield Corporation (NYSE:BN) by 92.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,871 shares of the company’s stock after selling 145,683 shares during the period. Brookfield accounts for 0.2% of Ervin Investment Management LLC’s investment portfolio, making the stock its 26th biggest holding. Ervin Investment Management LLC’s holdings in Brookfield were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Savant Capital LLC increased its stake in shares of Brookfield by 6.5% during the 3rd quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock worth $253,000 after purchasing an additional 226 shares during the last quarter. State of Wyoming increased its stake in shares of Brookfield by 7.8% during the 3rd quarter. State of Wyoming now owns 3,301 shares of the company’s stock worth $227,000 after purchasing an additional 240 shares during the last quarter. Manitou Investment Management Ltd. increased its stake in shares of Brookfield by 0.4% during the 3rd quarter. Manitou Investment Management Ltd. now owns 56,337 shares of the company’s stock worth $3,864,000 after purchasing an additional 241 shares during the last quarter. Hilltop National Bank increased its stake in shares of Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after purchasing an additional 241 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in Brookfield by 38.4% in the 3rd 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. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 0.0%

Shares of NYSE:BN opened at $40.77 on Wednesday. The firm has a fifty day moving average price of $43.03 and a two-hundred day moving average price of $44.96. 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 Corporation has a one year low of $29.07 and a one year high of $49.56. The company has a market cap of $99.92 billion, a price-to-earnings ratio of 82.64 and a beta of 1.56.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.63 billion. Analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on BN. BMO Capital Markets raised their price objective on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Royal Bank Of Canada raised their price objective on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Scotiabank cut their price target on shares of Brookfield from $52.00 to $48.50 and set a “sector outperform” rating for the company in a report on Wednesday, March 25th. Morgan Stanley reissued an “overweight” rating and issued a $60.00 price target on shares of Brookfield in a report on Tuesday, February 17th. Finally, Zacks Research raised shares of Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and an average price target of $54.20.

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.