WCM Investment Management LLC Has $42.74 Million Stake in Brookfield Corporation $BN

WCM Investment Management LLC raised its holdings in Brookfield Corporation (NYSE:BN) by 454.4% in the 1st quarter, HoldingsChannel reports. The firm owned 1,103,817 shares of the company’s stock after purchasing an additional 904,701 shares during the quarter. WCM Investment Management LLC’s holdings in Brookfield were worth $42,740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Partners Value Investments L.P. grew its holdings in shares of Brookfield by 50.0% during the fourth quarter. Partners Value Investments L.P. now owns 181,405,955 shares of the company’s stock worth $8,324,719,000 after purchasing an additional 60,468,651 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Brookfield by 40.5% in the fourth quarter. Royal Bank of Canada now owns 113,652,306 shares of the company’s stock valued at $5,215,504,000 after buying an additional 32,760,558 shares during the last quarter. Capital World Investors lifted its position in Brookfield by 45.0% during the 4th quarter. Capital World Investors now owns 99,069,016 shares of the company’s stock worth $4,546,443,000 after buying an additional 30,755,354 shares in the last quarter. Vanguard Group Inc. lifted its position in Brookfield by 52.1% during the 4th quarter. Vanguard Group Inc. now owns 92,103,120 shares of the company’s stock worth $4,228,915,000 after buying an additional 31,543,313 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Brookfield by 27.9% during the 4th quarter. Principal Financial Group Inc. now owns 65,050,624 shares of the company’s stock worth $2,985,224,000 after acquiring an additional 14,200,710 shares during the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Price Performance

Brookfield stock opened at $43.63 on Monday. The business’s 50-day simple moving average is $44.54 and its 200 day simple moving average is $44.48. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54. The stock has a market cap of $106.96 billion, a price-to-earnings ratio of 85.56 and a beta of 1.54. Brookfield Corporation has a 12-month low of $37.93 and a 12-month high of $49.56.

Brookfield Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, June 15th. Brookfield’s dividend payout ratio (DPR) is 54.90%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BN. Morgan Stanley restated an “overweight” rating and issued a $61.00 price objective (up from $60.00) on shares of Brookfield in a research report on Tuesday, April 21st. Scotia upped their target price on shares of Brookfield from $48.50 to $53.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research note on Wednesday, June 24th. TD Securities reissued a “buy” rating and issued a $60.00 price target on shares of Brookfield in a report on Tuesday, May 19th. Finally, National Bank Financial boosted their price objective on shares of Brookfield from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $56.82.

Brookfield Company 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.