Louisbourg Investments Inc. Has $7.28 Million Stock Position in Brookfield Corporation (NYSE:BN)

Louisbourg Investments Inc. trimmed its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 29.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,002 shares of the company's stock after selling 57,122 shares during the period. Brookfield comprises approximately 1.8% of Louisbourg Investments Inc.'s holdings, making the stock its 10th largest holding. Louisbourg Investments Inc.'s holdings in Brookfield were worth $7,282,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in BN. Allspring Global Investments Holdings LLC raised its position in shares of Brookfield by 1.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 78,682 shares of the company's stock valued at $4,520,000 after purchasing an additional 974 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Brookfield in the 4th quarter valued at approximately $341,000. Baillie Gifford & Co. raised its position in shares of Brookfield by 809.5% in the 4th quarter. Baillie Gifford & Co. now owns 3,675,524 shares of the company's stock valued at $211,159,000 after purchasing an additional 3,271,403 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of Brookfield by 8.8% in the 4th quarter. Sanctuary Advisors LLC now owns 43,674 shares of the company's stock valued at $2,715,000 after acquiring an additional 3,514 shares during the last quarter. Finally, Pittenger & Anderson Inc. increased its holdings in shares of Brookfield by 14.9% in the 4th quarter. Pittenger & Anderson Inc. now owns 1,563 shares of the company's stock valued at $90,000 after acquiring an additional 203 shares during the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on BN shares. TD Securities lowered their price target on Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a report on Monday, May 5th. Royal Bank Of Canada started coverage on Brookfield in a report on Wednesday. They issued an "outperform" rating and a $81.00 price target for the company. Morgan Stanley reiterated an "overweight" rating on shares of Brookfield in a report on Monday, May 19th. JPMorgan Chase & Co. lowered their price target on Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Wall Street Zen upgraded Brookfield from a "sell" rating to a "hold" rating in a report on Sunday, June 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $66.13.

Brookfield Stock Performance

BN traded up $1.47 during trading on Thursday, reaching $59.45. 2,505,739 shares of the company were exchanged, compared to its average volume of 2,653,087. The stock has a market cap of $97.97 billion, a P/E ratio of 212.31 and a beta of 1.66. The firm has a 50 day moving average of $55.91 and a 200 day moving average of $56.17. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 1.49. Brookfield Corporation has a 52 week low of $40.04 and a 52 week 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 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.36 billion. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. On average, sell-side analysts forecast that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.61%. Brookfield's payout ratio is currently 128.57%.

Brookfield Company Profile

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.