Fenimore Asset Management Inc Increases Position in Brookfield Corporation $BN

Key Points

• Fenimore Asset Management boosted its Brookfield stake by 49.2% in Q4, adding 1,267,580 shares to hold 3,842,656 shares worth $176.34M; Brookfield is about 3.7% of Fenimore’s portfolio and its sixth-largest holding (Fenimore owns ~0.16% of Brookfield).
• Other institutions also increased exposure—most notably Vanguard, which grew its stake 52.1% to 92,103,120 shares (~$4.23B)—and institutional investors now own about 61.6% of Brookfield.
• Brookfield recently posted an earnings beat (EPS $0.67 vs. $0.61), raised its quarterly dividend to $0.07 (annualized $0.28, yield ~0.6%), and carries a consensus analyst rating of "Moderate Buy" with an average price target of $55.65.

Fenimore Asset Management Inc increased its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 49.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,842,656 shares of the company's stock after purchasing an additional 1,267,580 shares during the period. Brookfield accounts for about 3.7% of Fenimore Asset Management Inc's investment portfolio, making the stock its 6th largest holding. Fenimore Asset Management Inc owned 0.16% of Brookfield worth $176,339,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have 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 fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company's stock valued at $4,228,915,000 after buying an additional 31,543,313 shares in the last quarter. Capital World Investors increased its holdings in shares of Brookfield by 2.4% in the third quarter. Capital World Investors now owns 68,313,662 shares of the company's stock valued at $4,685,103,000 after buying an additional 1,624,085 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Brookfield by 1.6% in the third quarter. Principal Financial Group Inc. now owns 50,849,914 shares of the company's stock valued at $3,487,338,000 after buying an additional 799,440 shares in the last quarter. Akre Capital Management LLC increased its holdings in shares of Brookfield by 0.7% in the second quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company's stock valued at $1,188,713,000 after buying an additional 125,269 shares in the last quarter. Finally, Cibc World Market Inc. increased its holdings in shares of Brookfield by 2.9% in the third quarter. Cibc World Market Inc. now owns 11,277,277 shares of the company's stock valued at $773,396,000 after buying an additional 321,998 shares in the last quarter. Institutional investors own 61.60% of the company's stock.

Brookfield Trading Up 0.3%

NYSE:BN opened at $45.25 on Friday. The stock has a market cap of $110.88 billion, a PE ratio of 91.71 and a beta of 1.55. Brookfield Corporation has a fifty-two week low of $35.95 and a fifty-two week high of $49.56. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.32 and a quick ratio of 1.21. The stock's 50-day moving average is $42.45 and its two-hundred day moving average is $44.87.

Brookfield (NYSE:BN - Get Free Report) last posted its quarterly 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 business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.63 billion. As a group, equities research analysts forecast that Brookfield Corporation will post 2.95 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This is a boost from Brookfield's previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. Brookfield's payout ratio is presently 57.14%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BN shares. Morgan Stanley reaffirmed an "overweight" rating and issued a $61.00 price target (up from $60.00) on shares of Brookfield in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Brookfield in a report on Friday, March 27th. BMO Capital Markets upped their price target on Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, February 13th. Scotiabank dropped their price target on Brookfield from $52.00 to $48.50 and set a "sector outperform" rating on the stock in a report on Wednesday, March 25th. Finally, National Bank Financial upped their price target on Brookfield from $56.00 to $59.00 and gave the company an "outperform" rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.65.

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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