Manitou Investment Management Ltd. Has $3.88 Million Holdings in Brookfield Corporation $BN

Manitou Investment Management Ltd. raised its position in shares of Brookfield Corporation (NYSE:BN) by 50.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,503 shares of the company’s stock after purchasing an additional 28,166 shares during the period. Brookfield accounts for about 0.7% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 14th largest position. Manitou Investment Management Ltd.’s holdings in Brookfield were worth $3,878,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BN. Chemistry Wealth Management LLC increased its holdings in shares of Brookfield by 51.6% during the 4th quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock valued at $20,082,000 after acquiring an additional 148,893 shares during the last quarter. PCJ Investment Counsel Ltd. increased its holdings in shares of Brookfield by 110.2% during the 3rd quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock valued at $15,966,000 after acquiring an additional 122,040 shares during the last quarter. Florida Trust Wealth Management Co increased its holdings in shares of Brookfield by 49.0% during the 4th quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock valued at $53,986,000 after acquiring an additional 387,068 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Brookfield by 49.5% during the 3rd quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock valued at $45,817,000 after acquiring an additional 221,078 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after acquiring an additional 31,543,313 shares during the last quarter. 61.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on BN. JPMorgan Chase & Co. increased 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. Scotiabank reiterated an “outperform” rating and issued a $53.00 price objective (up from $48.50) on shares of Brookfield in a research report on Friday, May 15th. Royal Bank Of Canada lowered their target price on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. TD Securities reiterated a “buy” rating and set a $60.00 target price on shares of Brookfield in a research report on Tuesday, May 19th. Finally, National Bank Financial boosted their price target on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $56.82.

Brookfield Stock Down 3.8%

NYSE BN opened at $43.88 on Thursday. The stock has a market capitalization of $107.53 billion, a P/E ratio of 86.03 and a beta of 1.53. 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 stock has a fifty day moving average of $44.19 and a 200-day moving average of $44.87.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.07 per share. The ex-dividend date is Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.6%. Brookfield’s payout ratio is presently 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.