332,889 Shares in Brookfield Corporation $BN Acquired by Purpose Unlimited Inc.

Purpose Unlimited Inc. bought a new stake in Brookfield Corporation (NYSE:BN) during the fourth quarter, Holdings Channel.com reports. The fund bought 332,889 shares of the company’s stock, valued at approximately $15,284,000. Brookfield accounts for approximately 0.7% of Purpose Unlimited Inc.’s holdings, making the stock its 28th largest position.

Other hedge funds have also bought and sold shares of the company. MCF Advisors LLC purchased a new position in Brookfield in the 4th quarter worth approximately $26,000. Quattro Advisors LLC purchased a new stake in shares of Brookfield during the 4th quarter valued at $26,000. Exchange Traded Concepts LLC purchased a new stake in shares of Brookfield during the 4th quarter valued at $27,000. Truvestments Capital LLC lifted its holdings 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 last quarter. Finally, Hilltop National Bank lifted its holdings 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 last quarter. 61.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. National Bank Financial upped their target price 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. JPMorgan Chase & Co. raised their price target on Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. TD Securities reaffirmed a “buy” rating and set a $60.00 price target on shares of Brookfield in a research note on Tuesday, May 19th. Scotiabank reiterated an “outperform” rating and issued a $53.00 price objective (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. Finally, TD increased their price objective on Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.82.

Brookfield Price Performance

Shares of Brookfield stock opened at $44.50 on Friday. Brookfield Corporation has a 52-week low of $37.93 and a 52-week high of $49.56. The stock has a market capitalization of $109.08 billion, a price-to-earnings ratio of 87.25 and a beta of 1.53. The company has a fifty day moving average of $45.31 and a 200-day moving average of $44.88. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.20 and a current ratio of 1.32.

Brookfield Announces Dividend

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. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.28 annualized dividend and a yield of 0.6%. Brookfield’s payout ratio is currently 54.90%.

Brookfield 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.