Intech Investment Management LLC Purchases 12,445 Shares of Brookfield Corporation $BN

Intech Investment Management LLC lifted its position in Brookfield Corporation (NYSE:BN) by 30.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,715 shares of the company’s stock after acquiring an additional 12,445 shares during the period. Intech Investment Management LLC’s holdings in Brookfield were worth $3,618,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC bought a new position in Brookfield in the second quarter worth $32,000. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Brookfield by 109.3% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after buying an additional 330 shares in the last quarter. First Horizon Corp purchased a new stake in shares of Brookfield in the 3rd quarter worth about $40,000. Versant Capital Management Inc increased its stake in shares of Brookfield by 507.5% in the 3rd quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $45,000 after acquiring an additional 543 shares in the last quarter. Finally, Financial Gravity Companies Inc. bought a new position in shares of Brookfield in the 2nd quarter worth about $51,000. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Trading Down 3.6%

NYSE:BN opened at $43.82 on Monday. The stock has a market cap of $107.35 billion, a price-to-earnings ratio of 88.82 and a beta of 1.58. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.48. The company’s 50 day moving average price is $46.59 and its 200-day moving average price is $45.74. Brookfield Corporation has a 52 week low of $29.07 and a 52 week high of $49.56.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. On average, equities research analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This is an increase from Brookfield’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. Brookfield’s dividend payout ratio is currently 48.98%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Royal Bank Of Canada boosted their price objective on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Monday, December 29th. National Bank Financial upped their price target on Brookfield from $56.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 4th. TD Securities raised their price objective on Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Finally, Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Brookfield has an average rating of “Moderate Buy” and a consensus target price of $54.59.

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.