Brookfield Corporation $BN Position Boosted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its holdings in Brookfield Corporation (NYSE:BN) by 39.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,373,391 shares of the company’s stock after purchasing an additional 390,442 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Brookfield worth $50,225,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Cardinal Capital Management Inc. lifted its stake in shares of Brookfield by 2.5% in the 2nd quarter. Cardinal Capital Management Inc. now owns 3,247,627 shares of the company’s stock valued at $138,287,000 after acquiring an additional 80,738 shares during the last quarter. Headlands Technologies LLC grew its position in Brookfield by 181.4% during the 2nd quarter. Headlands Technologies LLC now owns 91,785 shares of the company’s stock worth $3,909,000 after acquiring an additional 59,166 shares during the last quarter. TD Waterhouse Canada Inc. grew its position in Brookfield by 1.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 13,903,270 shares of the company’s stock worth $595,676,000 after acquiring an additional 248,479 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in Brookfield by 520.1% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 47,684 shares of the company’s stock worth $2,031,000 after purchasing an additional 39,994 shares during the period. Finally, Mraz Amerine & Associates Inc. increased its stake in Brookfield by 3.0% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 466,698 shares of the company’s stock worth $19,877,000 after purchasing an additional 13,401 shares during the period. 61.60% of the stock is owned by institutional investors.

Brookfield Price Performance

Shares of Brookfield stock opened at $42.41 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.34 and a debt-to-equity ratio of 1.54. The company has a market cap of $104.01 billion, a PE ratio of 77.11 and a beta of 1.53. The business has a 50 day moving average of $38.25 and a 200 day moving average of $42.41. Brookfield Corporation has a 52 week low of $35.61 and a 52 week high of $49.56.

Brookfield (NYSE:BN) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The company had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. As a group, equities research analysts forecast that Brookfield Corporation will post 2.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BN has been the subject of a number of analyst reports. Scotia increased their price objective on Brookfield from $53.00 to $54.00 and gave the company a “sector outperform” rating in a research note on Friday, August 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Monday, September 21st. Zacks Research cut shares of Brookfield from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Scotiabank reissued an “outperform” rating and issued a $54.00 price target (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. Finally, 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, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.70.

About Brookfield

Brookfield Corporation is a global investment and operating company focused on owning and managing businesses and assets in sectors including renewable power, infrastructure, real estate, private equity and credit. It invests directly and through its asset management business, Brookfield Asset Management, which serves institutional and individual investors. The company’s operations and investments span multiple regions, including North America, South America, Europe and Asia-Pacific. Its portfolio includes renewable energy facilities, transportation and utility infrastructure, commercial and residential real estate, and businesses in a range of industries.