Foster Victor Wealth Advisors LLC Acquires New Position in Brookfield Corporation (NYSE:BN)

Foster Victor Wealth Advisors LLC bought a new stake in Brookfield Corporation (NYSE:BN - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,525 shares of the company's stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BN. Allspring Global Investments Holdings LLC lifted its stake in Brookfield by 1.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 78,682 shares of the company's stock valued at $4,520,000 after buying an additional 974 shares during the period. Van ECK Associates Corp bought a new stake in shares of Brookfield in the 4th quarter valued at $341,000. Blue Zone Wealth Advisors LLC lifted its position in shares of Brookfield by 0.9% during the 4th quarter. Blue Zone Wealth Advisors LLC now owns 145,497 shares of the company's stock valued at $8,359,000 after acquiring an additional 1,293 shares during the period. Baillie Gifford & Co. boosted its stake in Brookfield by 809.5% during the fourth quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company's stock worth $211,159,000 after acquiring an additional 3,271,403 shares in the last quarter. Finally, Sanctuary Advisors LLC grew its holdings in Brookfield by 8.8% in the fourth quarter. Sanctuary Advisors LLC now owns 43,674 shares of the company's stock worth $2,715,000 after purchasing an additional 3,514 shares during the period. Institutional investors and hedge funds own 61.60% of the company's stock.

Brookfield Stock Down 1.1%

NYSE:BN traded down $0.63 during trading hours on Tuesday, hitting $57.90. 1,371,381 shares of the company traded hands, compared to its average volume of 2,657,978. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 1.49. The company has a market cap of $95.42 billion, a PE ratio of 14.00 and a beta of 1.66. The firm's 50-day simple moving average is $55.33 and its 200-day simple moving average is $56.15. Brookfield Corporation has a one year low of $40.04 and a one year high of $62.78.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Equities analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.62%. Brookfield's dividend payout ratio (DPR) is currently 128.57%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BN shares. Scotiabank dropped their price objective on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a report on Monday, April 7th. CIBC cut their price target on Brookfield from $74.00 to $72.00 and set an "outperformer" rating on the stock in a report on Friday, May 9th. TD Securities reduced their price objective on Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Wall Street Zen raised Brookfield from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. Finally, Morgan Stanley reiterated an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Brookfield has an average rating of "Moderate Buy" and a consensus target price of $63.00.

About Brookfield

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.