Brookfield Corporation (NYSE:BN) Shares Bought by Sierra Ocean LLC

Sierra Ocean LLC grew its holdings in shares of Brookfield Corporation (NYSE:BN) by 533.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,304 shares of the company’s stock after purchasing an additional 1,098 shares during the period. Sierra Ocean LLC’s holdings in Brookfield were worth $68,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Brookfield by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 59,904,458 shares of the company’s stock valued at $3,443,129,000 after purchasing an additional 974,533 shares during the period. Capital World Investors grew its holdings in Brookfield by 3.1% during the fourth quarter. Capital World Investors now owns 59,020,303 shares of the company’s stock worth $3,390,786,000 after acquiring an additional 1,782,034 shares during the period. FIL Ltd grew its holdings in Brookfield by 8.8% during the fourth quarter. FIL Ltd now owns 20,354,516 shares of the company’s stock worth $1,169,912,000 after acquiring an additional 1,640,903 shares during the period. Norges Bank acquired a new position in Brookfield during the fourth quarter worth about $973,591,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Brookfield by 1.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 11,866,447 shares of the company’s stock worth $682,497,000 after acquiring an additional 129,735 shares during the period. 61.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BN. Morgan Stanley reaffirmed an “overweight” rating on shares of Brookfield in a report on Monday, May 19th. Royal Bank Of Canada began coverage on Brookfield in a report on Wednesday, June 18th. They set an “outperform” rating and a $81.00 target price on the stock. Scotiabank lowered their target price on Brookfield from $71.00 to $68.00 and set a “sector outperform” rating on the stock in a report on Monday, April 7th. JPMorgan Chase & Co. decreased their price target on Brookfield from $66.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Finally, TD Securities decreased their price target on Brookfield from $77.00 to $74.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Brookfield presently has an average rating of “Moderate Buy” and an average target price of $66.13.

Brookfield Trading Up 2.7%

Shares of NYSE BN opened at $64.35 on Friday. Brookfield Corporation has a one year low of $42.21 and a one year high of $64.30. The firm has a market capitalization of $106.05 billion, a PE ratio of 229.82 and a beta of 1.66. The company has a current ratio of 1.30, a quick ratio of 1.18 and a debt-to-equity ratio of 1.49. The business has a 50-day moving average price of $58.45 and a two-hundred day moving average price of $56.32.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.08. Brookfield had a return on equity of 4.20% and a net margin of 0.76%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.36 billion. As a group, analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 13th. This represents a $0.36 dividend on an annualized basis and a yield of 0.56%. Brookfield’s payout ratio is presently 128.57%.

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.