WCM Investment Management LLC Acquires 12,308 Shares of Brookfield Corporation $BN

WCM Investment Management LLC boosted its holdings in shares of Brookfield Corporation (NYSE:BN) by 15.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 92,469 shares of the company’s stock after purchasing an additional 12,308 shares during the quarter. WCM Investment Management LLC’s holdings in Brookfield were worth $6,393,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in Brookfield by 147.5% in the 1st quarter. AQR Capital Management LLC now owns 18,571 shares of the company’s stock worth $963,000 after buying an additional 11,069 shares during the period. NewEdge Advisors LLC grew its stake in shares of Brookfield by 13.5% in the first quarter. NewEdge Advisors LLC now owns 2,488 shares of the company’s stock worth $130,000 after acquiring an additional 295 shares during the last quarter. Sivia Capital Partners LLC increased its position in Brookfield by 32.3% during the second quarter. Sivia Capital Partners LLC now owns 5,714 shares of the company’s stock worth $353,000 after acquiring an additional 1,396 shares during the period. Hilltop National Bank acquired a new position in Brookfield during the 2nd quarter valued at $30,000. Finally, Ameritas Advisory Services LLC bought a new stake in Brookfield in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Down 4.3%

NYSE BN opened at $44.60 on Wednesday. Brookfield Corporation has a 1-year low of $29.07 and a 1-year high of $49.56. The company has a market capitalization of $110.46 billion, a price-to-earnings ratio of 123.89 and a beta of 1.57. The stock’s 50 day moving average is $46.59 and its two-hundred day moving average is $45.51. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.54.

Brookfield (NYSE:BN) last issued its earnings results on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Brookfield had a return on equity of 3.92% and a net margin of 1.34%. Equities analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Tuesday, December 16th. Brookfield’s payout ratio is currently 66.67%.

Wall Street Analyst Weigh In

BN has been the topic of several research reports. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Brookfield in a report on Monday, December 1st. TD Securities boosted their price target on Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, November 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $58.00 price target on shares of Brookfield in a report on Tuesday, January 27th. Zacks Research raised Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Finally, Royal Bank Of Canada set a $58.00 price objective on Brookfield and gave the company an “outperform” rating in a research report on Monday, January 26th. Two investment analysts have 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 data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $54.27.

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.