Westerkirk Capital Inc. Reduces Stake in Brookfield Corporation $BN

Westerkirk Capital Inc. reduced its position in Brookfield Corporation (NYSE:BN) by 89.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,140 shares of the company’s stock after selling 54,120 shares during the period. Westerkirk Capital Inc.’s holdings in Brookfield were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chemistry Wealth Management LLC raised its holdings in Brookfield by 51.6% in the 4th quarter. Chemistry Wealth Management LLC now owns 437,620 shares of the company’s stock worth $20,082,000 after purchasing an additional 148,893 shares during the period. PCJ Investment Counsel Ltd. raised its holdings in Brookfield by 110.2% during the third quarter. PCJ Investment Counsel Ltd. now owns 232,780 shares of the company’s stock valued at $15,966,000 after acquiring an additional 122,040 shares during the period. Florida Trust Wealth Management Co raised its holdings in Brookfield by 49.0% during the fourth quarter. Florida Trust Wealth Management Co now owns 1,176,417 shares of the company’s stock valued at $53,986,000 after acquiring an additional 387,068 shares during the period. Citigroup Inc. raised its holdings in Brookfield by 49.5% during the third quarter. Citigroup Inc. now owns 667,613 shares of the company’s stock valued at $45,817,000 after acquiring an additional 221,078 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Brookfield by 52.1% during the fourth quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock valued at $4,228,915,000 after acquiring an additional 31,543,313 shares during the period. 61.60% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Stock Up 2.9%

Shares of NYSE BN opened at $45.50 on Wednesday. The firm has a market capitalization of $111.51 billion, a price-to-earnings ratio of 89.22 and a beta of 1.53. 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 stock has a 50 day moving average price of $44.62 and a 200 day moving average price of $44.91.

Brookfield Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, June 15th. This represents a $0.28 dividend on an annualized basis and a yield of 0.6%. Brookfield’s payout ratio is 54.90%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Brookfield in a report on Friday, March 27th. TD Securities reaffirmed a “buy” rating and issued a $60.00 target price on shares of Brookfield in a report on Tuesday, May 19th. JPMorgan Chase & Co. lifted their target price on Brookfield from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Royal Bank Of Canada reduced their target price on Brookfield from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, May 15th. Finally, BMO Capital Markets lifted their price target on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. One 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 data from MarketBeat.com, Brookfield has a consensus rating of “Moderate Buy” and an average 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.