Nykredit A S Acquires New Position in Brookfield Corporation $BN

Key Points

• Nykredit A/S acquired 415,875 Brookfield shares in the second quarter, worth approximately $17.7 million. Institutional investors collectively own 61.6% of Brookfield.
• Brookfield reported quarterly earnings of $0.66 per share, exceeding analysts’ $0.62 estimate, while revenue of $1.66 billion matched expectations.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $57.40 versus the stock’s reported $37.51 price.

Nykredit A S acquired a new stake in Brookfield Corporation (NYSE:BN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 415,875 shares of the company's stock, valued at approximately $17,737,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in shares of Brookfield by 40.5% during the fourth quarter. Royal Bank of Canada now owns 113,652,306 shares of the company's stock valued at $5,215,504,000 after acquiring an additional 32,760,558 shares in the last quarter. Capital World Investors grew its stake in Brookfield by 45.0% in the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company's stock worth $4,546,443,000 after purchasing an additional 30,755,354 shares in the last quarter. TD Asset Management Inc grew its stake in Brookfield by 46.3% in the fourth quarter. TD Asset Management Inc now owns 35,763,047 shares of the company's stock worth $1,644,200,000 after purchasing an additional 11,323,960 shares in the last quarter. Akre Capital Management LLC increased its holdings in Brookfield by 39.7% during the 4th quarter. Akre Capital Management LLC now owns 26,843,633 shares of the company's stock worth $1,231,854,000 after purchasing an additional 7,627,692 shares during the period. Finally, Norges Bank bought a new stake in Brookfield during the 4th quarter valued at $1,227,555,000. 61.60% of the stock is currently owned by institutional investors.

Brookfield Trading Up 0.9%

BN opened at $37.51 on Friday. The firm has a market cap of $91.98 billion, a price-to-earnings ratio of 68.21 and a beta of 1.53. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 12 month low of $36.67 and a 12 month high of $49.56. The stock has a fifty day moving average price of $41.68 and a 200-day moving average price of $42.87.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported $0.66 earnings per share for the quarter, beating 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. As a group, equities research analysts anticipate that Brookfield Corporation will post 2.93 earnings per share for the current fiscal year.

Brookfield Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on BN shares. Weiss Ratings restated a "hold (c)" rating on shares of Brookfield in a report on Wednesday, June 24th. Morgan Stanley set a $59.00 target price on shares of Brookfield and gave the stock an "overweight" rating in a report on Tuesday, July 21st. Scotiabank reissued an "outperform" rating and set a $54.00 target price (up from $53.00) on shares of Brookfield in a research report on Friday, August 14th. BMO Capital Markets upgraded shares of Brookfield to a "strong-buy" rating in a report on Monday, July 27th. Finally, TD upped their price target on shares of Brookfield from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. One equities research 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, Brookfield presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.40.

Brookfield Company Profile

Brookfield Corporation NYSE: BN is a global investment and asset management company that owns and operates businesses across real estate, renewable power and transition, infrastructure, and private equity. Through its operating platforms and investments, the company is involved in assets such as office, retail, multifamily and logistics properties; hydroelectric, wind and solar facilities; transportation, data and utility infrastructure; and companies in industries including industrials, technology and business services.

Brookfield also maintains a significant interest in Brookfield Asset Management, an alternative asset manager that manages capital for institutional and individual investors.

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