Wealthspire Advisors LLC Purchases 2,440 Shares of Brookfield Corporation $BN

Wealthspire Advisors LLC increased its holdings in Brookfield Corporation (NYSE:BN) by 22.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,341 shares of the company’s stock after buying an additional 2,440 shares during the period. Wealthspire Advisors LLC’s holdings in Brookfield were worth $825,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BN. Pershing Square Capital Management L.P. grew its holdings in shares of Brookfield by 17.5% during the first quarter. Pershing Square Capital Management L.P. now owns 41,004,657 shares of the company’s stock worth $2,149,054,000 after purchasing an additional 6,111,593 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Brookfield by 83.3% during the first quarter. Goldman Sachs Group Inc. now owns 7,699,178 shares of the company’s stock valued at $403,514,000 after purchasing an additional 3,500,003 shares during the last quarter. Regents of The University of California lifted its position in Brookfield by 123.1% during the first quarter. Regents of The University of California now owns 5,986,137 shares of the company’s stock valued at $313,733,000 after purchasing an additional 3,303,102 shares during the last quarter. Geode Capital Management LLC grew its stake in Brookfield by 19.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,882,122 shares of the company’s stock worth $679,852,000 after buying an additional 1,770,378 shares in the last quarter. Finally, Baillie Gifford & Co. increased its holdings in shares of Brookfield by 31.0% in the 1st quarter. Baillie Gifford & Co. now owns 4,816,082 shares of the company’s stock worth $252,411,000 after buying an additional 1,140,558 shares during the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Stock Performance

Shares of BN stock opened at $43.66 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 1.50. The stock has a fifty day moving average of $45.55 and a 200 day moving average of $43.02. The firm has a market capitalization of $108.05 billion, a price-to-earnings ratio of 152.29 and a beta of 1.73. Brookfield Corporation has a 52 week low of $29.07 and a 52 week high of $49.47.

Brookfield (NYSE:BN) last posted its earnings results on Thursday, November 13th. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.61 by $0.02. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Brookfield had a net margin of 1.11% and a return on equity of 3.77%. As a group, research analysts expect that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, December 16th. Brookfield’s dividend payout ratio (DPR) is 66.67%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on Brookfield from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Friday, August 8th. National Bankshares set a $54.67 price target on shares of Brookfield and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. The Goldman Sachs Group assumed coverage on Brookfield in a research note on Tuesday, September 2nd. They issued a “buy” rating and a $52.00 target price for the company. Royal Bank Of Canada boosted their price objective on Brookfield from $55.00 to $57.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Brookfield has an average rating of “Buy” and a consensus price target of $53.47.

Brookfield Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.