Needham Investment Management LLC Acquires 23,146 Shares of Brookfield Corporation $BN

Needham Investment Management LLC grew its holdings in shares of Brookfield Corporation (NYSE:BN) by 50.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 69,440 shares of the company’s stock after purchasing an additional 23,146 shares during the period. Needham Investment Management LLC’s holdings in Brookfield were worth $3,187,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of Brookfield by 147.5% during the 1st quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock worth $963,000 after purchasing an additional 11,069 shares during the last quarter. NewEdge Advisors LLC raised its position in Brookfield by 13.5% during the first quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock worth $130,000 after acquiring an additional 295 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Brookfield by 32.3% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock valued at $353,000 after acquiring an additional 1,396 shares during the period. AXA S.A. lifted its stake in shares of Brookfield by 42.2% during the 2nd quarter. AXA S.A. now owns 103,531 shares of the company’s stock worth $6,403,000 after buying an additional 30,703 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in shares of Brookfield by 29.6% during the 2nd quarter. Squarepoint Ops LLC now owns 25,502 shares of the company’s stock valued at $1,577,000 after acquiring an additional 5,821 shares during the period. Institutional investors own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BN shares. JPMorgan Chase & Co. boosted their price target on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Morgan Stanley reissued an “overweight” rating and issued a $61.00 price objective (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. Scotia upped their target price on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a report on Friday, May 15th. Scotiabank reiterated an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. Finally, 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. One investment 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. According to data from MarketBeat.com, Brookfield currently has an average rating of “Moderate Buy” and an average price target of $56.82.

Brookfield Stock Up 1.1%

Shares of NYSE:BN opened at $45.70 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. The stock has a market cap of $112.01 billion, a price-to-earnings ratio of 89.61 and a beta of 1.53. The business’s 50 day moving average is $45.02 and its 200 day moving average is $44.92. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56.

Brookfield Dividend Announcement

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