K.J. Harrison & Partners Inc Grows Stake in Brookfield Corporation $BN

Key Points

• K.J. Harrison & Partners increased its stake in Brookfield by 48.2% in Q4, buying 33,251 shares to hold 102,182 shares worth about $4.70 million at quarter-end.
• Other institutions also boosted positions—Vanguard added ~31.54 million shares to own 92.10 million shares (≈$4.23 billion), and institutional investors now hold about 61.6% of the company.
• Brookfield beat Q4 EPS estimates ($0.67 vs. $0.61), raised its quarterly dividend to $0.07 (annualized $0.28, yield 0.6%), and has an average analyst rating of Moderate Buy with a $55.65 consensus target.

K.J. Harrison & Partners Inc lifted its stake in shares of Brookfield Corporation (NYSE:BN - Free Report) by 48.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,182 shares of the company's stock after purchasing an additional 33,251 shares during the period. K.J. Harrison & Partners Inc's holdings in Brookfield were worth $4,698,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Brookfield by 52.1% during the 4th 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 during the last quarter. Capital World Investors lifted its holdings in Brookfield by 2.4% during the third quarter. Capital World Investors now owns 68,313,662 shares of the company's stock valued at $4,685,103,000 after purchasing an additional 1,624,085 shares during the last quarter. Principal Financial Group Inc. boosted its position in Brookfield by 27.9% during the fourth quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company's stock worth $2,985,224,000 after purchasing an additional 14,200,710 shares during the period. Akre Capital Management LLC increased its stake 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 worth $1,188,713,000 after purchasing an additional 125,269 shares in the last quarter. Finally, Cibc World Market Inc. raised its position 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 purchasing an additional 321,998 shares during the period. Hedge funds and other institutional investors own 61.60% of the company's stock.

Brookfield Trading Up 1.7%

Shares of BN stock opened at $46.61 on Thursday. The company has a market capitalization of $114.24 billion, a PE ratio of 94.49 and a beta of 1.55. Brookfield Corporation has a 52-week low of $36.47 and a 52-week high of $49.56. The business's fifty day moving average is $42.50 and its 200 day moving average is $44.89. The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.21 and a current ratio of 1.32.

Brookfield (NYSE:BN - Get Free Report) last posted 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. The business had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.63 billion. Brookfield had a return on equity of 3.90% and a net margin of 1.74%. On average, equities research analysts anticipate that Brookfield Corporation will post 2.95 EPS 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 $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. This is a positive change from Brookfield's previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, March 17th. Brookfield's dividend payout ratio (DPR) is currently 57.14%.

Analyst Upgrades and Downgrades

Several research firms recently commented on BN. National Bank Financial raised their price objective on shares of Brookfield from $56.00 to $59.00 and gave the stock an "outperform" rating in a report on Wednesday, February 4th. Wall Street Zen raised Brookfield from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. BMO Capital Markets lifted their price target on Brookfield from $49.00 to $51.00 and gave the company an "outperform" rating in a research report on Friday, February 13th. Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a research note on Friday, March 27th. Finally, Royal Bank Of Canada raised their target price on Brookfield from $60.00 to $63.00 and gave the stock an "outperform" rating in a research note on Monday, April 20th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.65.

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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