Brookfield Corporation $BN Shares Newly Acquired by Luma Capital S.A. SPF

Key Points

• Luma Capital S.A. SPF acquired 269,562 Brookfield shares worth approximately $9.83 million, making BN an 8.1% portfolio holding and its seventh-largest position.
• Institutional ownership remains substantial at 61.6%, with several other investment firms increasing their Brookfield stakes during the third quarter.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $57.40; Brookfield recently exceeded quarterly EPS expectations, reporting $0.66 versus the $0.62 consensus estimate.

Luma Capital S.A. SPF purchased a new position in Brookfield Corporation (NYSE:BN - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 269,562 shares of the company's stock, valued at approximately $9,828,000. Brookfield comprises 8.1% of Luma Capital S.A. SPF's investment portfolio, making the stock its 7th largest position.

Several other institutional investors also recently added to or reduced their stakes in BN. Pinnacle Associates Ltd. lifted its holdings in Brookfield by 6.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 10,618 shares of the company's stock valued at $387,000 after buying an additional 642 shares in the last quarter. Diversify Advisory Services LLC boosted its position in Brookfield by 9.1% in the 3rd quarter. Diversify Advisory Services LLC now owns 12,247 shares of the company's stock valued at $451,000 after buying an additional 1,022 shares during the period. QV Investors Inc. grew its stake in Brookfield by 32.6% in the 3rd quarter. QV Investors Inc. now owns 861,190 shares of the company's stock worth $31,494,000 after acquiring an additional 211,741 shares in the last quarter. Louisbourg Investments Inc. grew its stake in Brookfield by 15.3% in the 3rd quarter. Louisbourg Investments Inc. now owns 310,924 shares of the company's stock worth $11,378,000 after acquiring an additional 41,356 shares in the last quarter. Finally, Net Worth Advisory Group grew its stake in Brookfield by 16.7% in the 3rd quarter. Net Worth Advisory Group now owns 8,309 shares of the company's stock worth $304,000 after acquiring an additional 1,188 shares in the last quarter. Hedge funds and other institutional investors own 61.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BN. Zacks Research lowered shares of Brookfield from a "hold" rating to a "strong sell" rating in a research report on Monday. Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a report on Monday, September 21st. Scotia boosted their price target on Brookfield from $53.00 to $54.00 and gave the company a "sector outperform" rating in a report on Friday, August 14th. TD increased their price objective on Brookfield from $60.00 to $61.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Finally, BMO Capital Markets upgraded Brookfield to a "strong-buy" rating in a report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $57.40.

Brookfield Stock Up 2.4%

NYSE:BN opened at $37.33 on Wednesday. Brookfield Corporation has a 1-year low of $35.61 and a 1-year high of $49.56. The company has a 50-day moving average of $38.92 and a 200 day moving average of $42.36. The firm has a market cap of $91.52 billion, a PE ratio of 67.86 and a beta of 1.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22.

Brookfield (NYSE:BN - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.04. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. The company had revenue of $1.66 billion for the quarter, compared to analysts' expectations of $1.66 billion. As a group, research analysts anticipate that Brookfield Corporation will post 2.88 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Monday, September 14th were paid a dividend of $0.07 per share. The ex-dividend date was Monday, September 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.8%. Brookfield's dividend payout ratio (DPR) is currently 50.91%.

About Brookfield

Brookfield Corporation NYSE: BN is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.

Brookfield's portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.

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