Manitou Investment Management Ltd. Has $5.38 Million Holdings in Brookfield Corporation $BN

Manitou Investment Management Ltd. lifted its position in Brookfield Corporation (NYSE:BN) by 49.5% in the 2nd quarter, Holdings Channel reports. The fund owned 126,445 shares of the company’s stock after buying an additional 41,845 shares during the period. Brookfield makes up approximately 1.0% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 13th biggest holding. Manitou Investment Management Ltd.’s holdings in Brookfield were worth $5,385,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC purchased a new stake in Brookfield in the 4th quarter worth about $26,000. Quattro Advisors LLC acquired a new stake in Brookfield during the 4th quarter worth about $26,000. Exchange Traded Concepts LLC purchased a new position in Brookfield during the 4th quarter valued at about $27,000. Truvestments Capital LLC increased its holdings in shares of Brookfield by 49.9% in the 4th quarter. Truvestments Capital LLC now owns 640 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares during the period. Finally, New England Capital Financial Advisors LLC increased its holdings in shares of Brookfield by 50.2% in the 4th quarter. New England Capital Financial Advisors LLC now owns 751 shares of the company’s stock valued at $34,000 after purchasing an additional 251 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Royal Bank Of Canada decreased their price target on shares of Brookfield from $63.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, May 15th. Scotia upped their price objective on shares of Brookfield from $48.50 to $53.00 and gave the company a “sector outperform” rating in a research note on Friday, May 15th. Scotiabank reiterated an “outperform” rating and issued a $53.00 target price (up from $48.50) on shares of Brookfield 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. Finally, TD boosted their price target on shares of Brookfield from $59.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $56.64.

Brookfield Trading Down 1.2%

NYSE:BN opened at $43.99 on Friday. The company has a market capitalization of $107.87 billion, a P/E ratio of 86.26 and a beta of 1.54. The stock’s 50 day moving average price is $43.69 and its 200 day moving average price is $44.02. 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 Corporation has a 52 week low of $37.93 and a 52 week high of $49.56.

Brookfield Dividend Announcement

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