WCM Investment Management LLC Purchases 904,701 Shares of Brookfield Corporation $BN

Key Points

• WCM Investment Management sharply increased its stake in Brookfield Corporation, buying 904,701 additional shares in the first quarter and boosting its position by 454.4% to 1,103,817 shares valued at about $42.7 million.
• Institutional ownership remains high, with 61.60% of Brookfield’s stock held by institutional investors after several other funds also added or initiated positions.
• Analysts remain generally positive on BN, with a consensus rating of “Moderate Buy” and an average price target of $56.82, while the stock recently traded at $43.63 and pays a quarterly dividend of $0.07 per share.

WCM Investment Management LLC lifted its position in shares of Brookfield Corporation (NYSE:BN - Free Report) by 454.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,103,817 shares of the company's stock after purchasing an additional 904,701 shares during the quarter. WCM Investment Management LLC's holdings in Brookfield were worth $42,740,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of BN. MCF Advisors LLC acquired a new stake in Brookfield during the fourth quarter worth $26,000. Quattro Advisors LLC acquired a new position in shares of Brookfield in the 4th quarter valued at $26,000. Exchange Traded Concepts LLC acquired a new position in shares of Brookfield in the 4th quarter valued at $27,000. Truvestments Capital LLC lifted its holdings in shares of Brookfield by 49.9% during the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company's stock worth $29,000 after acquiring an additional 213 shares during the period. Finally, Hilltop National Bank lifted its holdings in shares of Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company's stock worth $33,000 after acquiring an additional 241 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BN shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Brookfield in a research report on Wednesday, June 24th. National Bank Financial increased their price target on shares of Brookfield from $58.00 to $60.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Scotia raised their price target on shares of Brookfield from $48.50 to $53.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 15th. JPMorgan Chase & Co. lifted their price objective on Brookfield from $60.00 to $62.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. Finally, Scotiabank reiterated an "outperform" rating and issued a $53.00 price objective (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Brookfield has a consensus rating of "Moderate Buy" and an average target price of $56.82.

Brookfield Stock Up 0.0%

Shares of NYSE BN opened at $43.63 on Monday. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The business has a fifty day moving average of $44.54 and a two-hundred day moving average of $44.48. The stock has a market cap of $106.96 billion, a PE ratio of 85.56 and a beta of 1.54.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.07 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. Brookfield's payout ratio is 54.90%.

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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