Brookfield Corporation $BN is Picton Mahoney Asset Management’s 5th Largest Position

Picton Mahoney Asset Management raised its stake in shares of Brookfield Corporation (NYSE:BN) by 15.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,629,023 shares of the company’s stock after buying an additional 348,824 shares during the period. Brookfield comprises about 1.6% of Picton Mahoney Asset Management’s investment portfolio, making the stock its 5th biggest holding. Picton Mahoney Asset Management’s holdings in Brookfield were worth $180,351,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. SG Americas Securities LLC raised its holdings in shares of Brookfield by 4.1% during the second quarter. SG Americas Securities LLC now owns 4,333 shares of the company’s stock worth $268,000 after acquiring an additional 172 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Brookfield by 7.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 2,957 shares of the company’s stock worth $183,000 after purchasing an additional 197 shares in the last quarter. Savant Capital LLC lifted its holdings in shares of Brookfield by 6.5% during the 3rd quarter. Savant Capital LLC now owns 3,689 shares of the company’s stock valued at $253,000 after buying an additional 226 shares during the last quarter. Advisors Capital Management LLC grew its stake in shares of Brookfield by 3.2% in the 2nd quarter. Advisors Capital Management LLC now owns 7,440 shares of the company’s stock valued at $460,000 after buying an additional 230 shares in the last quarter. Finally, State of Wyoming increased its holdings in Brookfield by 7.8% in the third quarter. State of Wyoming now owns 3,301 shares of the company’s stock worth $227,000 after buying an additional 240 shares during the last quarter. 61.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BN has been the subject of several recent research reports. Royal Bank Of Canada boosted their target price on shares of Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Morgan Stanley reiterated an “overweight” rating and issued a $60.00 price objective on shares of Brookfield in a report on Tuesday, February 17th. Scotiabank reissued an “outperform” rating and set a $52.00 target price (up from $49.00) on shares of Brookfield in a research report on Friday, February 13th. Finally, Wall Street Zen upgraded Brookfield from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $54.59.

Brookfield Price Performance

NYSE BN opened at $43.06 on Wednesday. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.56. The company has a fifty day simple moving average of $46.49 and a 200 day simple moving average of $45.73. The company has a current ratio of 1.32, a quick ratio of 1.21 and a debt-to-equity ratio of 1.48. The company has a market cap of $105.49 billion, a P/E ratio of 87.28 and a beta of 1.58.

Brookfield (NYSE:BN) last released its earnings results on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Brookfield had a net margin of 1.74% and a return on equity of 3.87%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.63 billion. On average, sell-side analysts predict that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be 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 is Tuesday, March 17th. This is a positive change from Brookfield’s previous quarterly dividend of $0.06. Brookfield’s dividend payout ratio is currently 48.98%.

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.