Lorne Steinberg Wealth Management Inc. Boosts Holdings in Brookfield Corporation $BN

Key Points

• Lorne Steinberg Wealth Management increased its stake in Brookfield by 52.7%, adding 54,901 shares to hold 159,026 shares worth about $7.31 million at quarter end.
• Brookfield reported quarterly EPS of $0.67 vs. $0.61 expected and revenue of $1.63 billion in line with estimates; the stock trades with a market cap of $114.2 billion, a P/E of 94.45 and a 52‑week range of $31.62–$49.56.
• The company raised its quarterly dividend to $0.07 (annualized $0.28, ~0.6% yield) and Wall Street's consensus is a "Moderate Buy" with a $54.20 target, driven by mostly Buy ratings.

Lorne Steinberg Wealth Management Inc. grew its position in Brookfield Corporation (NYSE:BN - Free Report) by 52.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 159,026 shares of the company's stock after acquiring an additional 54,901 shares during the quarter. Lorne Steinberg Wealth Management Inc.'s holdings in Brookfield were worth $7,312,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Savant Capital LLC boosted its position in shares of Brookfield by 6.5% during the third quarter. Savant Capital LLC now owns 3,689 shares of the company's stock valued at $253,000 after buying an additional 226 shares during the period. State of Wyoming boosted its holdings in Brookfield by 7.8% during the 3rd quarter. State of Wyoming now owns 3,301 shares of the company's stock valued at $227,000 after acquiring an additional 240 shares during the period. Manitou Investment Management Ltd. grew its position in Brookfield by 0.4% in the 3rd quarter. Manitou Investment Management Ltd. now owns 56,337 shares of the company's stock valued at $3,864,000 after acquiring an additional 241 shares during the last quarter. Hilltop National Bank increased its stake in Brookfield by 49.9% in the fourth quarter. Hilltop National Bank now owns 724 shares of the company's stock worth $33,000 after purchasing an additional 241 shares during the period. Finally, Cary Street Partners Investment Advisory LLC lifted its position in shares of Brookfield by 38.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 875 shares of the company's stock worth $60,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 61.60% of the company's stock.

Brookfield Stock Performance

Shares of BN stock opened at $46.60 on Friday. The firm has a market cap of $114.20 billion, a price-to-earnings ratio of 94.45 and a beta of 1.56. Brookfield Corporation has a 52-week low of $31.62 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 company's 50 day moving average is $42.81 and its 200 day moving average is $44.85.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.06. Brookfield had a return on equity of 3.90% and a net margin of 1.74%.The firm had revenue of $1.63 billion during the quarter, compared to analysts' expectations of $1.63 billion. On average, sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th were issued a $0.07 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from Brookfield's previous quarterly dividend of $0.06. Brookfield's dividend payout ratio (DPR) is 57.14%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BN. Morgan Stanley reissued an "overweight" rating and issued a $60.00 price objective on shares of Brookfield in a research report on Tuesday, February 17th. Zacks Research raised Brookfield from a "strong sell" rating to a "hold" rating in a research note on Monday, January 19th. Royal Bank Of Canada raised their price objective on Brookfield from $49.00 to $51.00 and gave the stock an "outperform" rating in a report on Friday, February 13th. Scotiabank decreased their target price on Brookfield from $52.00 to $48.50 and set a "sector outperform" rating for the company in a research report on Wednesday, March 25th. Finally, Wall Street Zen upgraded Brookfield from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $54.20.

Brookfield 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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