Cardinal Capital Management Inc. Increases Stake in Brookfield Corporation $BN

Key Points

• Cardinal Capital Management increased its Brookfield stake by 2.5% in the second quarter, adding 80,738 shares to own 3.25 million shares valued at approximately $138.3 million.
• Institutional ownership remains significant, with hedge funds and other institutional investors holding 61.6% of Brookfield’s stock; Vanguard also substantially expanded its position.
• Brookfield shares opened at $44.82, while analysts maintain a generally positive outlook: the stock has an average “Buy” rating and a consensus price target of $56.64.

Cardinal Capital Management Inc. lifted its position in Brookfield Corporation (NYSE:BN - Free Report) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,247,627 shares of the company's stock after acquiring an additional 80,738 shares during the quarter. Brookfield accounts for approximately 3.3% of Cardinal Capital Management Inc.'s investment portfolio, making the stock its 14th largest holding. Cardinal Capital Management Inc. owned approximately 0.13% of Brookfield worth $138,287,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Brookfield by 52.1% in the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company's stock valued at $4,228,915,000 after acquiring an additional 31,543,313 shares during the period. Lincluden Management Ltd. lifted its stake in shares of Brookfield by 44.2% during the 4th quarter. Lincluden Management Ltd. now owns 763,376 shares of the company's stock worth $35,031,000 after purchasing an additional 233,997 shares during the last quarter. Baskin Financial Services Inc. lifted its stake in shares of Brookfield by 48.9% during the 4th quarter. Baskin Financial Services Inc. now owns 1,353,889 shares of the company's stock worth $62,149,000 after purchasing an additional 444,872 shares during the last quarter. Capital Research Global Investors boosted its position in Brookfield by 47.0% during the fourth quarter. Capital Research Global Investors now owns 2,134,876 shares of the company's stock valued at $98,022,000 after purchasing an additional 682,137 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in Brookfield by 39.5% during the fourth quarter. Oppenheimer & Co. Inc. now owns 108,369 shares of the company's stock valued at $4,973,000 after purchasing an additional 30,690 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Up 1.2%

Brookfield stock opened at $44.82 on Wednesday. Brookfield Corporation has a 1-year low of $37.93 and a 1-year high of $49.56. The business has a fifty day moving average price of $43.63 and a 200-day moving average price of $43.98. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20. The stock has a market capitalization of $109.89 billion, a price-to-earnings ratio of 87.88 and a beta of 1.54.

Analysts Set New Price Targets

BN has been the topic of several analyst reports. Royal Bank Of Canada cut their target price on Brookfield from $63.00 to $61.00 and set an "outperform" rating on the stock in a research note on Friday, May 15th. Weiss Ratings reissued a "hold (c)" rating on shares of Brookfield in a research report on Wednesday, June 24th. 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. TD lifted their price objective on shares of Brookfield from $59.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, May 19th. Finally, Scotia boosted their price objective on shares of Brookfield from $48.50 to $53.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Brookfield has an average rating of "Buy" and an average target price of $56.64.

About Brookfield

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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