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HughesLittle Investment Management Ltd. Buys 494,461 Shares of Brookfield Corporation $BN

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Key Points

  • HughesLittle Investment Management boosted its Brookfield stake by 47.2% in the fourth quarter, buying 494,461 additional shares and bringing its total to 1,542,185 shares valued at about $70.9 million.
  • Brookfield reported quarterly EPS of $0.67, topping analyst estimates of $0.61, while revenue came in line at $1.63 billion. The company also posted a quarterly dividend of $0.07 per share, implying a 0.6% yield.
  • Analyst sentiment remains positive, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus target of $56.40. Institutional ownership is also high, with hedge funds and other investors holding about 61.6% of the shares.
  • Five stocks to consider instead of Brookfield.

HughesLittle Investment Management Ltd. increased its stake in Brookfield Corporation (NYSE:BN - Free Report) by 47.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,542,185 shares of the company's stock after acquiring an additional 494,461 shares during the quarter. Brookfield makes up about 11.7% of HughesLittle Investment Management Ltd.'s portfolio, making the stock its 3rd biggest holding. HughesLittle Investment Management Ltd. owned 0.06% of Brookfield worth $70,909,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Chemistry Wealth Management LLC lifted its stake in Brookfield by 51.6% in the 4th quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company's stock worth $20,082,000 after purchasing an additional 148,893 shares in the last quarter. Triasima Portfolio Management inc. grew its position in shares of Brookfield by 9.0% in the third quarter. Triasima Portfolio Management inc. now owns 288,866 shares of the company's stock valued at $19,825,000 after purchasing an additional 23,923 shares in the last quarter. PCJ Investment Counsel Ltd. increased its holdings in shares of Brookfield by 110.2% in the third quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company's stock valued at $15,966,000 after purchasing an additional 122,040 shares during the last quarter. Florida Trust Wealth Management Co increased its holdings in shares of Brookfield by 49.0% in the fourth quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company's stock valued at $53,986,000 after purchasing an additional 387,068 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Brookfield by 49.5% during the third quarter. Citigroup Inc. now owns 667,613 shares of the company's stock worth $45,817,000 after buying an additional 221,078 shares in the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Price Performance

BN stock opened at $45.48 on Friday. Brookfield Corporation has a 52-week low of $37.54 and a 52-week high of $49.56. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.51. The stock has a market cap of $111.45 billion, a price-to-earnings ratio of 89.17 and a beta of 1.55. The business has a fifty day moving average of $42.78 and a two-hundred day moving average of $44.94.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.63 billion. Brookfield had a return on equity of 3.87% and a net margin of 1.76%. As a group, research analysts anticipate that Brookfield Corporation will post 2.94 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 15th. Brookfield's payout ratio is 57.14%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BN shares. BMO Capital Markets boosted their price objective on Brookfield from $49.00 to $51.00 and gave the stock an "outperform" rating in a research note on Friday, February 13th. Scotia raised their target price on Brookfield from $48.50 to $53.00 and gave the stock a "sector outperform" rating in a research note on Friday. Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a report on Friday, March 27th. Morgan Stanley reissued an "overweight" rating and set a $61.00 price target (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. Finally, Royal Bank Of Canada dropped their price objective on shares of Brookfield from $63.00 to $61.00 and set an "outperform" rating for the company in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.40.

View Our Latest Research Report on Brookfield

Brookfield News Roundup

Here are the key news stories impacting Brookfield this week:

Brookfield Company Profile

(Free Report)

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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Want to see what other hedge funds are holding BN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Brookfield Corporation (NYSE:BN - Free Report).

Institutional Ownership by Quarter for Brookfield (NYSE:BN)

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