Bank of Nova Scotia Purchases 1,575,668 Shares of Brookfield Corporation $BN

Bank of Nova Scotia grew its holdings in shares of Brookfield Corporation (NYSE:BN) by 11.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,340,928 shares of the company’s stock after purchasing an additional 1,575,668 shares during the quarter. Brookfield makes up approximately 1.0% of Bank of Nova Scotia’s holdings, making the stock its 18th biggest position. Bank of Nova Scotia’s holdings in Brookfield were worth $621,443,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Partners Value Investments L.P. grew its position in Brookfield by 50.0% during the fourth quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company’s stock valued at $8,324,719,000 after buying an additional 60,468,651 shares during the period. Royal Bank of Canada raised its position in Brookfield by 40.5% in the fourth quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock worth $5,215,504,000 after acquiring an additional 32,760,558 shares during the period. Capital World Investors raised its position in Brookfield by 45.0% in the fourth quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock worth $4,546,443,000 after acquiring an additional 30,755,354 shares during the period. Vanguard Group Inc. raised its position in Brookfield by 52.1% in the fourth 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 during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Brookfield by 27.9% during the 4th quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock worth $2,985,224,000 after acquiring an additional 14,200,710 shares during the last quarter. Institutional investors own 61.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BN. Morgan Stanley set a $59.00 price objective on shares of Brookfield and gave the company an “overweight” rating in a research report on Tuesday. TD Securities reaffirmed a “buy” rating and issued a $60.00 target price on shares of Brookfield in a report on Tuesday, May 19th. JPMorgan Chase & Co. boosted their price target on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. National Bank Financial upped their price target on Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Finally, Royal Bank Of Canada decreased their price objective on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $56.64.

Brookfield Trading Down 1.4%

Shares of NYSE BN opened at $41.23 on Friday. The business’s 50 day moving average is $44.19 and its two-hundred day moving average is $44.36. Brookfield Corporation has a 1-year low of $37.93 and a 1-year high of $49.56. The stock has a market capitalization of $101.06 billion, a P/E ratio of 80.84 and a beta of 1.54. 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 disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given 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 payout ratio is 54.90%.

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.