Brookfield Corporation $BN Stock Position Raised by Louisbourg Investments Inc.

Key Points

• Louisbourg Investments increased its Brookfield stake by 15.3% in the third quarter, bringing its holdings to 310,924 shares worth approximately $11.4 million. Institutional investors collectively own 61.6% of Brookfield.
• Analysts remain broadly positive, with Brookfield receiving a consensus “Moderate Buy” rating and an average price target of $57.40; recent targets range from $54 to $61.
• Brookfield’s latest quarterly earnings exceeded expectations, with EPS of $0.66 versus a $0.62 estimate. The company also maintains a quarterly dividend of $0.07, equivalent to a 0.8% annual yield.

Louisbourg Investments Inc. raised its holdings in shares of Brookfield Corporation (NYSE:BN - Free Report) by 15.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 310,924 shares of the company's stock after purchasing an additional 41,356 shares during the quarter. Brookfield makes up 2.0% of Louisbourg Investments Inc.'s holdings, making the stock its 12th biggest position. Louisbourg Investments Inc.'s holdings in Brookfield were worth $11,378,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Cardinal Capital Management Inc. raised its position in shares of 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 purchasing an additional 80,738 shares during the period. Headlands Technologies LLC lifted its stake in shares of Brookfield by 181.4% during the 2nd quarter. Headlands Technologies LLC now owns 91,785 shares of the company's stock worth $3,909,000 after buying an additional 59,166 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of Brookfield by 1.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company's stock worth $595,676,000 after buying an additional 248,479 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings 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 buying an additional 39,994 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Brookfield during the 2nd quarter worth about $5,498,000. Institutional investors and hedge funds own 61.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on BN shares. TD upped their price target on shares of Brookfield from $60.00 to $61.00 and gave the company a "buy" rating in a research note on Friday, August 14th. Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the company an "overweight" rating in a report on Tuesday, July 21st. Weiss Ratings restated a "hold (c)" rating on shares of Brookfield in a research report on Monday, September 21st. BMO Capital Markets upgraded shares of Brookfield to a "strong-buy" rating in a research report on Monday, July 27th. Finally, Scotiabank restated an "outperform" rating and set a $54.00 price objective (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.40.

Brookfield Stock Performance

Shares of NYSE BN opened at $37.33 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 stock's fifty day moving average price is $38.92 and its two-hundred day moving average price is $42.36. Brookfield Corporation has a one year low of $35.61 and a one year high of $49.56. The firm has a market cap of $91.52 billion, a price-to-earnings ratio of 67.86 and a beta of 1.56.

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

Brookfield Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Monday, September 14th were paid a $0.07 dividend. The ex-dividend date was Monday, September 14th. This represents a $0.28 annualized dividend and a dividend yield of 0.8%. Brookfield's dividend payout ratio is 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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