SOL Capital Management CO Acquires 15,985 Shares of Brookfield Corporation (NYSE:BN)

SOL Capital Management CO increased its stake in shares of Brookfield Corporation (NYSE:BN - Free Report) by 52.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,551 shares of the company's stock after buying an additional 15,985 shares during the quarter. SOL Capital Management CO's holdings in Brookfield were worth $2,440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of BN. Vanguard Group Inc. raised its position in Brookfield by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company's stock valued at $3,443,129,000 after purchasing an additional 974,533 shares during the last quarter. Capital World Investors raised its position in Brookfield by 3.1% in the 4th quarter. Capital World Investors now owns 59,020,303 shares of the company's stock valued at $3,390,786,000 after purchasing an additional 1,782,034 shares during the last quarter. FIL Ltd raised its position in Brookfield by 8.8% in the 4th quarter. FIL Ltd now owns 20,354,516 shares of the company's stock valued at $1,169,912,000 after purchasing an additional 1,640,903 shares during the last quarter. Norges Bank bought a new position in Brookfield in the 4th quarter valued at $973,591,000. Finally, The Manufacturers Life Insurance Company raised its position in Brookfield by 1.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 11,866,447 shares of the company's stock valued at $682,497,000 after purchasing an additional 129,735 shares during the last quarter. Institutional investors own 61.60% of the company's stock.

Brookfield Trading Up 0.8%

Shares of Brookfield stock traded up $0.52 during trading on Friday, reaching $61.62. 1,616,716 shares of the company were exchanged, compared to its average volume of 2,441,647. 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 twelve month low of $40.82 and a twelve month high of $62.78. The business has a 50-day moving average price of $57.26 and a 200-day moving average price of $56.19. The firm has a market capitalization of $101.54 billion, a price-to-earnings ratio of 220.05 and a beta of 1.66.

Brookfield (NYSE:BN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.08. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.36 billion. Sell-side analysts anticipate that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.58%. Brookfield's dividend payout ratio (DPR) is presently 128.57%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BN. JPMorgan Chase & Co. cut their price objective on Brookfield from $66.00 to $65.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. CIBC dropped their target price on Brookfield from $74.00 to $72.00 and set an "outperformer" rating for the company in a research report on Friday, May 9th. Royal Bank Of Canada started coverage on Brookfield in a research report on Wednesday, June 18th. They set an "outperform" rating and a $81.00 target price for the company. TD Securities dropped their target price on Brookfield from $77.00 to $74.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Wall Street Zen upgraded Brookfield from a "sell" rating to a "hold" rating in a research report on Sunday, June 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $66.13.

About Brookfield

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.