Capricorn Fund Managers Ltd Grows Stock Holdings in Brookfield Corporation $BN

Capricorn Fund Managers Ltd grew its holdings in shares of Brookfield Corporation (NYSE:BN) by 140.1% in the first quarter, Holdings Channel reports. The institutional investor owned 67,500 shares of the company’s stock after purchasing an additional 39,388 shares during the period. Capricorn Fund Managers Ltd’s holdings in Brookfield were worth $2,732,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. MCF Advisors LLC purchased a new position in Brookfield in the fourth quarter valued at approximately $26,000. Quattro Advisors LLC purchased a new stake in shares of Brookfield during the 4th quarter worth approximately $26,000. Exchange Traded Concepts LLC purchased a new stake in shares of Brookfield during the 4th quarter worth approximately $27,000. Truvestments Capital LLC boosted its holdings in shares of Brookfield by 49.9% in the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after buying an additional 213 shares in the last quarter. Finally, Hilltop National Bank grew its position in shares of Brookfield by 49.9% in the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after buying an additional 241 shares during the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Brookfield Stock Up 1.2%

Brookfield stock opened at $42.63 on Wednesday. The stock’s 50 day moving average price is $45.09 and its 200 day moving average price is $44.69. Brookfield Corporation has a 1-year low of $37.93 and a 1-year high of $49.56. The company has a market cap of $104.50 billion, a PE ratio of 83.60 and a beta of 1.53. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20.

Brookfield Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $0.07 dividend. 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 dividend payout ratio is 54.90%.

Wall Street Analyst Weigh In

BN has been the topic of several research analyst reports. Royal Bank Of Canada cut their price target on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. Scotia raised their price objective on Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a report on Friday, May 15th. TD Securities reaffirmed a “buy” rating and set a $60.00 price objective on shares of Brookfield in a report on Tuesday, May 19th. Morgan Stanley reiterated an “overweight” rating and set a $61.00 target price (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and a consensus target price of $56.82.

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.