Maryland State Retirement & Pension System Has $10.84 Million Holdings in Brookfield Corporation $BN

Maryland State Retirement & Pension System boosted its position in Brookfield Corporation (NYSE:BN) by 23.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 158,254 shares of the company’s stock after purchasing an additional 29,544 shares during the period. Maryland State Retirement & Pension System’s holdings in Brookfield were worth $10,839,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in BN. Akre Capital Management LLC increased its stake in shares of Brookfield by 0.7% in the 2nd quarter. Akre Capital Management LLC now owns 19,219,290 shares of the company’s stock valued at $1,188,713,000 after acquiring an additional 125,269 shares in the last quarter. Norges Bank bought a new stake in shares of Brookfield during the second quarter worth about $1,040,160,000. Mackenzie Financial Corp raised its holdings in shares of Brookfield by 1.6% in the 2nd quarter. Mackenzie Financial Corp now owns 16,319,256 shares of the company’s stock worth $1,010,616,000 after acquiring an additional 249,913 shares during the last quarter. Bank of Nova Scotia lifted its position in Brookfield by 13.3% in the 2nd quarter. Bank of Nova Scotia now owns 13,263,185 shares of the company’s stock valued at $820,569,000 after acquiring an additional 1,556,042 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Brookfield by 19.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,882,122 shares of the company’s stock valued at $679,852,000 after purchasing an additional 1,770,378 shares during the last quarter. 61.60% of the stock is owned by institutional investors.

Brookfield Stock Performance

Shares of BN opened at $47.38 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.31 and a quick ratio of 1.19. The firm has a market cap of $117.35 billion, a PE ratio of 131.61 and a beta of 1.58. Brookfield Corporation has a 1 year low of $29.07 and a 1 year high of $49.56. The stock’s fifty day moving average price is $46.15 and its two-hundred day moving average price is $45.18.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. On average, equities research analysts forecast that Brookfield Corporation will post 3.85 EPS for the current year.

Brookfield Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, December 16th. Brookfield’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Upgrades and Downgrades

BN has been the topic of several analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $49.00 target price (up previously from $46.00) on shares of Brookfield in a research report on Wednesday, December 17th. TD Securities increased their target price on shares of Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, November 14th. Wall Street Zen cut shares of Brookfield from a “hold” rating to a “sell” rating in a report on Saturday. Royal Bank Of Canada reiterated an “outperform” rating and issued a $58.00 price objective (up previously from $57.00) on shares of Brookfield in a research note on Monday, December 15th. Finally, CIBC restated an “outperform” rating and issued a $52.00 target price (up previously from $50.67) on shares of Brookfield in a research note on Friday, November 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.87.

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.