Ervin Investment Management LLC Has $10.70 Million Holdings in Brookfield Corporation $BN

Key Points

• Ervin Investment Management raised its stake in Brookfield by 48.0% in Q4, buying 75,551 shares to hold 233,105 shares valued at about $10.70 million, making BN its fifth-largest holding (~6% of the fund).
• Several large institutions (including Lone Pine, Baillie Gifford, Wellington and CIBC) have significantly increased or initiated positions, leaving 61.60% of Brookfield's stock held by institutional investors.
• Brookfield reported a quarterly EPS of $0.67 (vs. $0.61 consensus), raised its quarterly dividend to $0.07 (annualized $0.28, 0.6% yield), and trades near $43.69 with an average analyst target of $54.20 and a "Moderate Buy" consensus.

Ervin Investment Management LLC raised its stake in shares of Brookfield Corporation (NYSE:BN - Free Report) by 48.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 233,105 shares of the company's stock after purchasing an additional 75,551 shares during the quarter. Brookfield accounts for about 6.0% of Ervin Investment Management LLC's holdings, making the stock its 5th biggest holding. Ervin Investment Management LLC's holdings in Brookfield were worth $10,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of BN. Lone Pine Capital LLC lifted its position in Brookfield by 81.1% during the third quarter. Lone Pine Capital LLC now owns 10,181,348 shares of the company's stock valued at $698,237,000 after purchasing an additional 4,559,963 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in Brookfield during the third quarter valued at approximately $171,104,000. Baillie Gifford & Co. lifted its position in Brookfield by 45.4% during the fourth quarter. Baillie Gifford & Co. now owns 7,013,657 shares of the company's stock valued at $321,857,000 after purchasing an additional 2,191,270 shares during the last quarter. James Hambro & Partners LLP bought a new stake in Brookfield during the fourth quarter valued at approximately $91,118,000. Finally, Wellington Management Group LLP lifted its position in Brookfield by 142.2% during the third quarter. Wellington Management Group LLP now owns 2,891,925 shares of the company's stock valued at $198,412,000 after purchasing an additional 1,698,019 shares during the last quarter. 61.60% of the stock is currently owned by institutional investors.

Brookfield Stock Up 3.7%

Shares of NYSE BN opened at $43.69 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. Brookfield Corporation has a 52 week low of $31.62 and a 52 week high of $49.56. The firm's fifty day moving average is $42.72 and its 200 day moving average is $44.84. The company has a market cap of $107.06 billion, a price-to-earnings ratio of 88.56 and a beta of 1.56.

Brookfield (NYSE:BN - Get Free Report) last issued its earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.90%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.63 billion. On average, equities research analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were paid a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This is a positive change from Brookfield's previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. Brookfield's payout ratio is presently 57.14%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Wall Street Zen upgraded shares of Brookfield from a "sell" rating to a "hold" rating in a research report on Saturday, January 31st. Zacks Research upgraded shares of Brookfield from a "strong sell" rating to a "hold" rating in a research report on Monday, January 19th. Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a research report on Friday, March 27th. Finally, BMO Capital Markets boosted their price objective on shares of Brookfield from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Brookfield has an average rating of "Moderate Buy" and an average target price of $54.20.

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.

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