Van Den Berg Management I Inc. Reduces Position in Brookfield Corporation $BN

Key Points

• Van Den Berg Management I Inc. cut its Brookfield Corporation stake by 20.4% in the first quarter, selling 60,654 shares and leaving it with 236,693 shares valued at about $9.6 million.
• Brookfield shares were up 1.2% to $41.69, though the stock remains below its 50-day and 200-day moving averages. The company has a market cap of about $102.2 billion and a 52-week range of $37.93 to $49.56.
• Brookfield paid a quarterly dividend of $0.07 per share and now yields about 0.7%. Analysts remain generally constructive, with an average rating of “Moderate Buy” and an average target price of $56.64.

Van Den Berg Management I Inc. decreased its holdings in Brookfield Corporation (NYSE:BN - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 236,693 shares of the company's stock after selling 60,654 shares during the quarter. Brookfield makes up 2.2% of Van Den Berg Management I Inc.'s portfolio, making the stock its 14th biggest position. Van Den Berg Management I Inc.'s holdings in Brookfield were worth $9,579,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Partners Value Investments L.P. raised its holdings in Brookfield by 50.0% in 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 acquiring an additional 60,468,651 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Brookfield by 40.5% in the 4th quarter. Royal Bank of Canada now owns 113,652,306 shares of the company's stock valued at $5,215,504,000 after buying an additional 32,760,558 shares during the period. Capital World Investors grew its holdings in shares of Brookfield by 45.0% during the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company's stock valued at $4,546,443,000 after purchasing an additional 30,755,354 shares during the last quarter. Vanguard Group Inc. grew its stake in Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company's stock worth $4,228,915,000 after buying an additional 31,543,313 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Brookfield by 27.9% in the 4th quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company's stock worth $2,985,224,000 after acquiring an additional 14,200,710 shares during the period. Institutional investors and hedge funds own 61.60% of the company's stock.

Brookfield Stock Up 1.2%

BN stock opened at $41.69 on Friday. The firm's 50-day moving average is $44.12 and its two-hundred day moving average is $44.34. The company has a market capitalization of $102.18 billion, a price-to-earnings ratio of 81.74 and a beta of 1.54. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.28 annualized dividend and a yield of 0.7%. Brookfield's payout ratio is presently 54.90%.

Analysts Set New Price Targets

Several brokerages have commented on BN. Scotia raised their price target on shares of Brookfield from $48.50 to $53.00 and gave the company a "sector outperform" rating in a research note on Friday, May 15th. Weiss Ratings restated a "hold (c)" rating on shares of Brookfield in a research report on Wednesday, June 24th. Royal Bank Of Canada cut their target price on Brookfield from $63.00 to $61.00 and set an "outperform" rating on the stock in a research note on Friday, May 15th. Scotiabank reiterated an "outperform" rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. Finally, National Bank Financial increased their price target on Brookfield from $58.00 to $60.00 and gave the stock an "outperform" rating in a research note on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $56.64.

About Brookfield

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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