Brookfield Corporation $BN Shares Purchased by Manitou Investment Management Ltd.

Manitou Investment Management Ltd. raised its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 49.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,445 shares of the company's stock after acquiring an additional 41,845 shares during the period. Brookfield makes up 1.0% of Manitou Investment Management Ltd.'s holdings, making the stock its 13th largest position. Manitou Investment Management Ltd.'s holdings in Brookfield were worth $5,385,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Partners Value Investments L.P. raised its stake in shares of Brookfield by 50.0% during the fourth quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company's stock valued at $8,324,719,000 after purchasing an additional 60,468,651 shares in the last quarter. Dodge & Cox acquired a new position in Brookfield during the 4th quarter valued at about $1,894,354,000. Royal Bank of Canada raised its position in shares of Brookfield by 40.5% during the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company's stock worth $5,215,504,000 after buying an additional 32,760,558 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company's stock worth $4,228,915,000 after buying an additional 31,543,313 shares in the last quarter. Finally, Capital World Investors lifted its stake in shares of Brookfield by 45.0% in the 4th quarter. Capital World Investors now owns 99,069,016 shares of the company's stock worth $4,546,443,000 after acquiring an additional 30,755,354 shares during the period. Institutional investors and hedge funds own 61.60% of the company's stock.

Brookfield Trading Down 1.2%

Shares of NYSE:BN opened at $43.99 on Friday. The stock has a market capitalization of $107.87 billion, a price-to-earnings ratio of 86.26 and a beta of 1.54. Brookfield Corporation has a 1-year low of $37.93 and a 1-year high of $49.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The company has a 50 day moving average price of $43.69 and a 200 day moving average price of $44.02.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. Brookfield's dividend payout ratio (DPR) is currently 54.90%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BN. Royal Bank Of Canada decreased their price objective on shares of Brookfield from $63.00 to $61.00 and set an "outperform" rating for the company in a report on Friday, May 15th. Scotiabank restated an "outperform" rating and issued a $53.00 target price (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. TD increased their price target on Brookfield from $59.00 to $60.00 and gave the company a "buy" rating in a research note on Tuesday, May 19th. TD Securities reiterated a "buy" rating and set a $60.00 price target on shares of Brookfield in a research report on Tuesday, May 19th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a research note on Wednesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $56.64.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source