Taylor Hoffman Capital Management LLC Boosts Position in Brookfield Corporation $BN

Taylor Hoffman Capital Management LLC boosted its position in shares of Brookfield Corporation (NYSE:BN) by 49.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 69,518 shares of the company’s stock after acquiring an additional 23,135 shares during the quarter. Taylor Hoffman Capital Management LLC’s holdings in Brookfield were worth $3,190,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Parallel Advisors LLC increased its stake in shares of Brookfield by 50.2% in the 4th quarter. Parallel Advisors LLC now owns 4,345 shares of the company’s stock worth $199,000 after purchasing an additional 1,453 shares in the last quarter. Prestige Wealth Management Group LLC increased its stake in shares of Brookfield by 49.9% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,297 shares of the company’s stock worth $60,000 after purchasing an additional 432 shares in the last quarter. BBR Partners LLC increased its stake in shares of Brookfield by 50.0% in the 4th quarter. BBR Partners LLC now owns 10,125 shares of the company’s stock worth $465,000 after purchasing an additional 3,375 shares in the last quarter. TT Capital Management LLC increased its stake in shares of Brookfield by 44.7% in the 4th quarter. TT Capital Management LLC now owns 16,425 shares of the company’s stock worth $754,000 after purchasing an additional 5,075 shares in the last quarter. Finally, J.W. Cole Advisors Inc. increased its stake in shares of Brookfield by 50.0% in the 4th quarter. J.W. Cole Advisors Inc. now owns 11,039 shares of the company’s stock worth $507,000 after purchasing an additional 3,682 shares in the last quarter. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Trading Down 1.0%

Shares of BN stock opened at $44.60 on Friday. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32. The firm has a market capitalization of $109.30 billion, a PE ratio of 87.45 and a beta of 1.53. The stock has a fifty day simple moving average of $44.40 and a two-hundred day simple moving average of $44.88.

Brookfield Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on BN shares. TD upped their price objective on Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. National Bank Financial upped their price objective on Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research note on Friday, March 27th. Morgan Stanley restated an “overweight” rating and issued a $61.00 price objective (up from $60.00) on shares of Brookfield in a research note on Tuesday, April 21st. Finally, Scotia upped their price objective on Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.82.

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.