Public Employees Retirement System of Ohio Has $5.17 Million Holdings in Brookfield Corporation $BN

Public Employees Retirement System of Ohio trimmed its position in Brookfield Corporation (NYSE:BN) by 44.6% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 127,973 shares of the company’s stock after selling 102,872 shares during the period. Public Employees Retirement System of Ohio’s holdings in Brookfield were worth $5,168,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in BN. Cloverfields Capital Group LP acquired a new position in Brookfield in the 1st quarter worth approximately $5,033,000. Bank of Nova Scotia lifted its holdings in shares of Brookfield by 11.4% in the first quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock valued at $621,443,000 after purchasing an additional 1,575,668 shares in the last quarter. Gibbs Wealth Management boosted its position in shares of Brookfield by 38.2% in the first quarter. Gibbs Wealth Management now owns 9,625 shares of the company’s stock worth $390,000 after buying an additional 2,659 shares during the period. Sei Investments Co. raised its position in Brookfield by 131.8% during the first quarter. Sei Investments Co. now owns 315,082 shares of the company’s stock valued at $12,751,000 after buying an additional 179,149 shares during the period. Finally, Lido Advisors LLC lifted its stake in Brookfield by 57.1% in the 1st quarter. Lido Advisors LLC now owns 37,788 shares of the company’s stock worth $1,529,000 after acquiring an additional 13,729 shares in the last quarter. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BN shares. TD raised their price objective on Brookfield from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Scotiabank restated an “outperform” rating and set a $53.00 price target (up from $48.50) on shares of Brookfield in a report on Friday, May 15th. JPMorgan Chase & Co. upped their price objective on shares of Brookfield from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, May 12th. BMO Capital Markets upgraded shares of Brookfield to a “strong-buy” rating in a research report on Monday. Finally, National Bank Financial boosted their price target on shares of Brookfield from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Brookfield presently has a consensus rating of “Buy” and a consensus target price of $56.64.

Brookfield Stock Performance

BN stock opened at $41.71 on Thursday. The firm has a 50 day moving average of $43.95 and a two-hundred day moving average of $44.19. Brookfield Corporation has a 12 month low of $37.93 and a 12 month high of $49.56. The company has a market capitalization of $102.23 billion, a price-to-earnings ratio of 81.78 and a beta of 1.54. The company has a quick ratio of 1.20, a current ratio of 1.32 and a debt-to-equity ratio of 1.54.

Brookfield Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 15th. Brookfield’s dividend payout ratio is presently 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.