Ritholtz Wealth Management raised its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 17.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,924 shares of the company's stock after purchasing an additional 7,392 shares during the quarter. Ritholtz Wealth Management's holdings in Brookfield were worth $2,564,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. Strategic Wealth Partners Ltd. increased its holdings in Brookfield by 1.7% in the 4th quarter. Strategic Wealth Partners Ltd. now owns 10,229 shares of the company's stock worth $618,000 after buying an additional 170 shares during the period. Haverford Trust Co raised its holdings in shares of Brookfield by 4.7% during the fourth quarter. Haverford Trust Co now owns 4,308 shares of the company's stock worth $247,000 after purchasing an additional 192 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Brookfield by 1.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company's stock worth $955,000 after purchasing an additional 197 shares during the last quarter. Pittenger & Anderson Inc. lifted its position in Brookfield by 14.9% during the fourth quarter. Pittenger & Anderson Inc. now owns 1,563 shares of the company's stock valued at $90,000 after purchasing an additional 203 shares during the period. Finally, Citizens Financial Group Inc. RI grew its position in Brookfield by 5.8% during the 4th quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company's stock worth $250,000 after purchasing an additional 240 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.
Brookfield Price Performance
Shares of NYSE BN traded down $0.63 during trading on Tuesday, hitting $57.90. The company had a trading volume of 1,371,381 shares, compared to its average volume of 2,657,978. The firm has a market capitalization of $95.42 billion, a price-to-earnings ratio of 14.00 and a beta of 1.66. The stock has a fifty day simple moving average of $55.33 and a two-hundred day simple moving average of $56.15. The company has a quick ratio of 1.18, a current ratio of 1.30 and a debt-to-equity ratio of 1.49. Brookfield Corporation has a fifty-two week low of $40.04 and a fifty-two week high of $62.78.
Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.08. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.36 billion. On average, research analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current year.
Brookfield Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Friday, June 13th. Brookfield's payout ratio is 128.57%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on BN shares. JPMorgan Chase & Co. decreased their price objective on Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Morgan Stanley reaffirmed an "overweight" rating on shares of Brookfield in a research note on Monday, May 19th. TD Securities decreased their target price on shares of Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Scotiabank dropped their price target on shares of Brookfield from $71.00 to $68.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 7th. Finally, CIBC cut their price objective on shares of Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $63.00.
Read Our Latest Stock Report on BN
About Brookfield
(
Free Report)
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.
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