First Manhattan CO. LLC. Has $1.09 Billion Position in Brookfield Corporation $BN

First Manhattan CO. LLC. raised its stake in Brookfield Corporation (NYSE:BN) by 47.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,795,141 shares of the company’s stock after purchasing an additional 7,662,565 shares during the quarter. Brookfield makes up about 2.9% of First Manhattan CO. LLC.’s portfolio, making the stock its 6th biggest holding. First Manhattan CO. LLC. owned 0.96% of Brookfield worth $1,093,985,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC boosted its stake in shares of Brookfield by 49.9% during the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock worth $29,000 after acquiring an additional 213 shares during the period. Hilltop National Bank boosted its stake in shares of Brookfield by 49.9% during the 4th quarter. Hilltop National Bank now owns 724 shares of the company’s stock worth $33,000 after acquiring an additional 241 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Brookfield by 38.4% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 875 shares of the company’s stock worth $60,000 after acquiring an additional 243 shares during the period. New England Capital Financial Advisors LLC boosted its stake in shares of Brookfield by 50.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock worth $34,000 after acquiring an additional 251 shares during the period. Finally, Wealthfront Advisers LLC boosted its stake in shares of Brookfield by 7.7% during the 3rd quarter. Wealthfront Advisers LLC now owns 3,659 shares of the company’s stock worth $251,000 after acquiring an additional 263 shares during the period. 61.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BN shares. JPMorgan Chase & Co. lifted their target price on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. National Bank Financial lifted their target price on Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Royal Bank Of Canada reduced their target price on Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, May 15th. Scotiabank reiterated an “outperform” rating and set a $53.00 target price (up from $48.50) on shares of Brookfield in a research note on Friday, May 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.82.

Brookfield Stock Performance

BN opened at $44.75 on Thursday. The business has a fifty day simple moving average of $45.19 and a 200 day simple moving average of $44.90. The company has a market capitalization of $109.68 billion, a PE ratio of 87.74 and a beta of 1.53. Brookfield Corporation has a 1 year low of $37.93 and a 1 year high of $49.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.32 and a quick ratio of 1.20.

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.07 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.28 annualized dividend and a yield of 0.6%. Brookfield’s payout ratio is 54.90%.

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.