USS Investment Management Ltd Raises Stock Holdings in Brookfield Corporation $BN

USS Investment Management Ltd raised its stake in Brookfield Corporation (NYSE:BN) by 3.9% during the first quarter, HoldingsChannel reports. The institutional investor owned 334,745 shares of the company’s stock after purchasing an additional 12,691 shares during the quarter. USS Investment Management Ltd’s holdings in Brookfield were worth $13,571,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of BN. MCF Advisors LLC purchased a new stake in shares of Brookfield in the 4th quarter valued at approximately $26,000. Quattro Advisors LLC purchased a new position in shares of Brookfield during the 4th quarter worth approximately $26,000. Exchange Traded Concepts LLC purchased a new position in shares of Brookfield during the 4th quarter worth approximately $27,000. Truvestments Capital LLC increased its holdings in 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 purchasing an additional 213 shares during the last quarter. Finally, Hilltop National Bank raised its position in Brookfield by 49.9% in the fourth quarter. Hilltop National Bank now owns 724 shares of the company’s stock valued at $33,000 after purchasing an additional 241 shares during the period. Hedge funds and other institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 0.4%

Brookfield stock opened at $42.76 on Thursday. Brookfield Corporation has a twelve month low of $37.93 and a twelve month high of $49.56. The stock’s fifty day simple moving average is $45.01 and its 200-day simple moving average is $44.66. The company has a current ratio of 1.32, a quick ratio of 1.20 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $104.82 billion, a P/E ratio of 83.85 and a beta of 1.54.

Brookfield Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently commented on the company. National Bank Financial raised 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Wednesday, June 24th. Royal Bank Of Canada decreased their target price on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, May 15th. JPMorgan Chase & Co. raised their target price on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Finally, Scotia lifted their target price on Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.82.

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.