Brookfield Corporation $BN Shares Purchased by Factory Mutual Insurance Co.

Key Points

• Factory Mutual Insurance Co. increased its Brookfield stake by 14.3% in the third quarter, adding 67,950 shares to hold 544,500 shares valued at about $19.9 million. Institutional investors collectively own 61.6% of the company.
• Analyst views were mostly positive: Brookfield had a “Moderate Buy” consensus rating and a $57.40 average price target, although ratings included one Strong Sell and one Sell.
• Brookfield reported quarterly earnings of $0.66 per share, beating estimates of $0.62, and paid a quarterly dividend of $0.07 per share, equivalent to a 0.7% annual yield.

Factory Mutual Insurance Co. grew its stake in shares of Brookfield Corporation (NYSE:BN - Free Report) by 14.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 544,500 shares of the company's stock after purchasing an additional 67,950 shares during the quarter. Factory Mutual Insurance Co.'s holdings in Brookfield were worth $19,852,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cardinal Capital Management Inc. lifted its stake in Brookfield by 2.5% in the second quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company's stock valued at $138,287,000 after acquiring an additional 80,738 shares during the last quarter. Headlands Technologies LLC grew its position in shares of Brookfield by 181.4% in the 2nd quarter. Headlands Technologies LLC now owns 91,785 shares of the company's stock valued at $3,909,000 after acquiring an additional 59,166 shares during the period. TD Waterhouse Canada Inc. grew its position in shares of Brookfield by 1.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company's stock valued at $595,676,000 after acquiring an additional 248,479 shares during the period. Concurrent Investment Advisors LLC increased its stake in shares of Brookfield by 520.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 47,684 shares of the company's stock worth $2,031,000 after purchasing an additional 39,994 shares during the last quarter. Finally, Engineers Gate Manager LP increased its stake in shares of Brookfield by 388.8% during the 2nd quarter. Engineers Gate Manager LP now owns 42,209 shares of the company's stock worth $1,798,000 after purchasing an additional 33,573 shares during the last quarter. Institutional investors own 61.60% of the company's stock.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of research analyst reports. Zacks Research cut shares of Brookfield from a "hold" rating to a "strong sell" rating in a report on Monday, October 19th. Scotiabank reiterated an "outperform" rating and set a $54.00 price target (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. 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 stock a "sector outperform" rating in a research report on Friday, August 14th. Finally, BMO Capital Markets raised Brookfield to a "strong-buy" rating in a research report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Brookfield has an average rating of "Moderate Buy" and a consensus target price of $57.40.

Brookfield Trading Down 2.1%

BN stock opened at $40.59 on Wednesday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22. The company has a fifty day moving average price of $38.17 and a two-hundred day moving average price of $42.52. Brookfield Corporation has a one year low of $35.61 and a one year high of $49.56. The stock has a market cap of $99.53 billion, a price-to-earnings ratio of 73.80 and a beta of 1.53.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. Brookfield had a net margin of 1.85% and a return on equity of 3.93%. Equities analysts anticipate that Brookfield Corporation will post 2.88 EPS for the current year.

Brookfield Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, September 14th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.7%. Brookfield's payout ratio is presently 50.91%.

Brookfield Profile

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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