Madison Asset Management LLC Purchases Shares of 1,306,755 Brookfield Corporation $BN

Key Points

• Madison Asset Management acquired 1,306,755 Brookfield shares worth approximately $55.7 million during the second quarter, giving it about a 0.05% stake. Hedge funds and other institutional investors collectively own 61.6% of Brookfield.
• Brookfield reported quarterly EPS of $0.66, beating analyst expectations of $0.62, while revenue matched estimates at $1.66 billion. The company also declared a quarterly dividend of $0.07 per share, representing a 0.7% yield.
• Analyst sentiment remains positive, with Brookfield receiving an average “Buy” rating and a consensus price target of $56.91, compared with shares trading near $42.18.

Madison Asset Management LLC purchased a new stake in Brookfield Corporation (NYSE:BN - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,306,755 shares of the company's stock, valued at approximately $55,655,000. Madison Asset Management LLC owned about 0.05% of Brookfield at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of BN. MCF Advisors LLC acquired a new stake in Brookfield during the 4th quarter valued at $26,000. Quattro Advisors LLC acquired a new position in shares of Brookfield in the fourth quarter worth $26,000. Truvestments Capital LLC lifted its position in shares of Brookfield by 49.9% in the fourth quarter. Truvestments Capital LLC now owns 640 shares of the company's stock valued at $29,000 after acquiring an additional 213 shares in the last quarter. New England Capital Financial Advisors LLC boosted its stake in shares of Brookfield by 50.2% during the fourth quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company's stock valued at $34,000 after acquiring an additional 251 shares during the last quarter. Finally, Entrust Financial LLC acquired a new stake in shares of Brookfield during the fourth quarter valued at $35,000. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Trading Up 0.1%

Shares of BN opened at $42.18 on Thursday. Brookfield Corporation has a twelve month low of $37.93 and a twelve month high of $49.56. The firm has a market capitalization of $103.41 billion, a P/E ratio of 76.69 and a beta of 1.54. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. The stock's fifty day simple moving average is $43.48 and its 200 day simple moving average is $43.83.

Brookfield (NYSE:BN - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%.The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. On average, equities research analysts forecast that Brookfield Corporation will post 2.99 earnings per share for the current year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 14th. Brookfield's payout ratio is currently 50.91%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Scotia boosted their target price on shares of Brookfield from $53.00 to $54.00 and gave the company a "sector outperform" rating in a research note on Friday, August 14th. TD lifted their price target on shares of Brookfield from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Friday, August 14th. BMO Capital Markets raised shares of Brookfield to a "strong-buy" rating in a research report on Monday, July 27th. National Bank Financial upped their price objective on shares of Brookfield from $58.00 to $60.00 and gave the company an "outperform" rating in a research note on Friday, May 15th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Brookfield in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Brookfield presently has an average rating of "Buy" and a consensus price target of $56.91.

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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