Public Employees Retirement System of Ohio Purchases Shares of 128,920 Brookfield Corporation $BN

Key Points

• Public Employees Retirement System of Ohio acquired 128,920 Brookfield shares worth approximately $5.5 million in the second quarter. Institutional investors collectively own 61.6% of the company.
• Analysts maintain a broadly positive outlook, with Brookfield receiving a “Moderate Buy” consensus rating and an average price target of $57.40; recent targets range as high as $62.
• Brookfield reported quarterly EPS of $0.66, beating estimates of $0.62, and declared a quarterly dividend of $0.07, equivalent to a 0.7% annualized yield.

Public Employees Retirement System of Ohio acquired a new position in Brookfield Corporation (NYSE:BN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 128,920 shares of the company's stock, valued at approximately $5,498,000.

Several other institutional investors have also recently made changes to their positions in BN. Partners Value Investments L.P. grew its position in shares of Brookfield by 50.0% during the fourth quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company's stock valued at $8,324,719,000 after purchasing an additional 60,468,651 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Brookfield by 40.5% in the fourth quarter. Royal Bank of Canada now owns 113,652,306 shares of the company's stock worth $5,215,504,000 after buying an additional 32,760,558 shares in the last quarter. Capital World Investors lifted its position in shares of 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 buying an additional 30,755,354 shares in the last quarter. BROOKFIELD Corp ON boosted its stake in Brookfield by 50.2% during the fourth quarter. BROOKFIELD Corp ON now owns 46,581,943 shares of the company's stock valued at $2,137,645,000 after buying an additional 15,574,559 shares during the last quarter. Finally, Dodge & Cox bought a new position in Brookfield during the fourth quarter valued at approximately $1,894,354,000. Hedge funds and other institutional investors own 61.60% of the company's stock.

Wall Street Analyst Weigh In

BN has been the subject of a number of recent research reports. Morgan Stanley set a $59.00 price objective on shares of Brookfield and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. Scotia lifted their target price on Brookfield from $53.00 to $54.00 and gave the company a "sector outperform" rating in a research note on Friday, August 14th. BMO Capital Markets upgraded shares of Brookfield to a "strong-buy" rating in a research note on Monday, July 27th. Scotiabank reiterated an "outperform" rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. lifted their price objective on Brookfield from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Brookfield currently has an average rating of "Moderate Buy" and an average price target of $57.40.

Brookfield Trading Up 0.0%

Shares of Brookfield stock opened at $39.75 on Thursday. 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 firm's 50-day moving average price is $42.81 and its 200 day moving average price is $43.49. The firm has a market capitalization of $97.45 billion, a PE ratio of 72.27 and a beta of 1.53. Brookfield Corporation has a twelve month low of $37.93 and a twelve month high of $49.56.

Brookfield (NYSE:BN - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%.The firm had revenue of $1.66 billion during the quarter, compared to analysts' expectations of $1.66 billion. On average, sell-side analysts predict that Brookfield Corporation will post 2.93 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, September 14th will be issued a $0.07 dividend. 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 (DPR) is currently 50.91%.

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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