Brookfield Corporation $BN Shares Sold by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio cut its Brookfield stake by 44.6% in the first quarter, selling 102,872 shares and retaining 127,973 shares valued at approximately $5.17 million.
• Brookfield shares opened at $41.71, down 1.6%, with a market capitalization of about $102.23 billion and a 12-month trading range of $37.93 to $49.56.
• Analysts remain broadly positive, with a consensus “Buy” rating and an average price target of $56.64; Brookfield also pays a quarterly dividend of $0.07 per share, yielding approximately 0.7%.

Public Employees Retirement System of Ohio lessened its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 44.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,973 shares of the company's stock after selling 102,872 shares during the period. Public Employees Retirement System of Ohio's holdings in Brookfield were worth $5,168,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. MCF Advisors LLC acquired a new position in Brookfield during the 4th quarter worth $26,000. Quattro Advisors LLC bought a new stake in shares of Brookfield during the fourth quarter valued at about $26,000. Exchange Traded Concepts LLC acquired a new stake in Brookfield in the fourth quarter worth about $27,000. Truvestments Capital LLC lifted its holdings in Brookfield by 49.9% in the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company's stock worth $29,000 after purchasing an additional 213 shares during the period. Finally, New England Capital Financial Advisors LLC grew its position in Brookfield by 50.2% in the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company's stock valued at $34,000 after buying an additional 251 shares in the last quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Stock Down 1.6%

NYSE BN opened at $41.71 on Thursday. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56. The company has a market capitalization of $102.23 billion, a P/E ratio of 81.78 and a beta of 1.54. The company's 50 day simple moving average is $43.95 and its 200 day simple moving average is $44.19. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20.

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 given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 15th. Brookfield's dividend payout ratio is 54.90%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. BMO Capital Markets upgraded shares of Brookfield to a "strong-buy" rating in a research report on Monday. Scotia raised their price objective on shares of Brookfield from $48.50 to $53.00 and gave the company a "sector outperform" rating in a research note on Friday, May 15th. National Bank Financial upped their target price on Brookfield from $58.00 to $60.00 and gave the stock an "outperform" rating 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. Finally, Scotiabank reiterated an "outperform" rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $56.64.

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.

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