Rochester Wealth Strategies LLC bought a new position in shares of Brookfield Corporation (NYSE:BN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,600 shares of the company's stock, valued at approximately $398,000. Brookfield makes up approximately 0.3% of Rochester Wealth Strategies LLC's portfolio, making the stock its 15th biggest position.
Other institutional investors also recently bought and sold shares of the company. Strategic Wealth Partners Ltd. lifted its stake in shares of Brookfield by 1.7% in the fourth quarter. Strategic Wealth Partners Ltd. now owns 10,229 shares of the company's stock worth $618,000 after buying an additional 170 shares in the last quarter. Haverford Trust Co boosted its holdings in shares of Brookfield by 4.7% during the 4th 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 grew its position in shares of Brookfield by 1.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 16,616 shares of the company's stock valued at $955,000 after purchasing an additional 197 shares in the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of Brookfield by 5.8% in the fourth quarter. Citizens Financial Group Inc. RI now owns 4,350 shares of the company's stock valued at $250,000 after purchasing an additional 240 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in Brookfield by 2.7% during the fourth quarter. Fisher Asset Management LLC now owns 9,873 shares of the company's stock worth $567,000 after buying an additional 255 shares during the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
BN has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Brookfield from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. Scotiabank lowered their price objective on Brookfield from $71.00 to $68.00 and set a "sector outperform" rating for the company in a research report on Monday, April 7th. TD Securities reduced their target price on Brookfield from $77.00 to $74.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. reduced their price objective on shares of Brookfield from $66.00 to $65.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Royal Bank Of Canada started coverage on shares of Brookfield in a research note on Wednesday, June 18th. They set an "outperform" rating and a $81.00 target price for the company. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.13.
View Our Latest Report on Brookfield
Brookfield Stock Performance
BN traded up $0.44 on Wednesday, reaching $62.42. The company had a trading volume of 1,170,911 shares, compared to its average volume of 2,439,097. The stock has a 50-day moving average price of $57.77 and a 200-day moving average price of $56.20. 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 1 year low of $40.82 and a 1 year high of $62.78. The stock has a market capitalization of $102.86 billion, a PE ratio of 222.84 and a beta of 1.66.
Brookfield (NYSE:BN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.98 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.08. Brookfield had a net margin of 0.76% and a return on equity of 4.20%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.36 billion. As a group, research analysts forecast that Brookfield Corporation will post 3.85 EPS for the current fiscal year.
Brookfield Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Friday, June 13th. Brookfield's dividend payout ratio (DPR) is presently 128.57%.
Brookfield Company Profile
(
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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