Healthcare of Ontario Pension Plan Trust Fund Sells 1,140,079 Shares of Brookfield Corporation $BN

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in shares of Brookfield Corporation (NYSE:BN) by 18.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,192,606 shares of the company’s stock after selling 1,140,079 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Brookfield were worth $210,309,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Florida Trust Wealth Management Co grew its position in shares of Brookfield by 49.0% in the 4th quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock worth $53,986,000 after buying an additional 387,068 shares during the last quarter. Vanguard Group Inc. raised its stake 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 worth $4,228,915,000 after acquiring an additional 31,543,313 shares in the last quarter. Lincluden Management Ltd. raised its stake in shares of Brookfield by 44.2% during the 4th quarter. Lincluden Management Ltd. now owns 763,376 shares of the company’s stock worth $35,031,000 after acquiring an additional 233,997 shares in the last quarter. Baskin Financial Services Inc. lifted its position in Brookfield by 48.9% during the fourth quarter. Baskin Financial Services Inc. now owns 1,353,889 shares of the company’s stock valued at $62,149,000 after acquiring an additional 444,872 shares during the last quarter. Finally, Cardinal Capital Management Inc. lifted its position in Brookfield by 42.2% during the fourth quarter. Cardinal Capital Management Inc. now owns 3,077,748 shares of the company’s stock valued at $141,238,000 after acquiring an additional 913,603 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Performance

Shares of Brookfield stock opened at $41.69 on Friday. The company has a 50 day moving average price of $44.12 and a 200 day moving average price of $44.34. The firm has a market capitalization of $102.18 billion, a P/E ratio of 81.74 and a beta of 1.54. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a 52 week low of $37.93 and a 52 week high of $49.56.

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.07 per share. The ex-dividend date was Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. Brookfield’s dividend payout ratio is presently 54.90%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BN shares. Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Wednesday, June 24th. National Bank Financial increased their price objective on Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, May 15th. TD Securities reissued a “buy” rating and issued a $60.00 price objective on shares of Brookfield in a research report on Tuesday, May 19th. Finally, Scotia boosted their target price on Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 15th. One 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 company’s stock. Based on data from MarketBeat, Brookfield has a consensus rating of “Moderate Buy” and a consensus target price of $56.64.

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.