Brookfield Corporation $BN Stock Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in Brookfield Corporation (NYSE:BN) by 39.7% during the third quarter, Holdings Channel.com reports. The firm owned 1,373,391 shares of the company’s stock after acquiring an additional 390,442 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Brookfield were worth $50,225,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Wyoming grew its stake in shares of Brookfield by 6.0% in the 1st quarter. State of Wyoming now owns 5,151 shares of the company’s stock worth $208,000 after buying an additional 290 shares during the last quarter. Central Pacific Bank Trust Division raised its stake in Brookfield by 2.6% during the second quarter. Central Pacific Bank Trust Division now owns 11,800 shares of the company’s stock valued at $503,000 after buying an additional 300 shares during the last quarter. West Family Investments Inc. raised its stake in Brookfield by 4.0% during the second quarter. West Family Investments Inc. now owns 7,890 shares of the company’s stock valued at $336,000 after buying an additional 304 shares during the last quarter. Gould Asset Management LLC CA raised its stake in Brookfield by 3.6% during the first quarter. Gould Asset Management LLC CA now owns 8,834 shares of the company’s stock valued at $358,000 after buying an additional 310 shares during the last quarter. Finally, Modera Wealth Management LLC boosted its holdings in Brookfield by 5.0% in the third quarter. Modera Wealth Management LLC now owns 6,737 shares of the company’s stock worth $246,000 after acquiring an additional 322 shares in the last quarter. Institutional investors own 61.60% of the company’s stock.

Brookfield Trading Down 1.3%

Shares of Brookfield stock opened at $42.41 on Wednesday. The company’s fifty day simple moving average is $38.25 and its 200-day simple moving average is $42.41. The stock has a market capitalization of $104.01 billion, a PE ratio of 77.11 and a beta of 1.53. Brookfield Corporation has a 1-year low of $35.61 and a 1-year high of $49.56. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.34 and a quick ratio of 1.22.

Brookfield (NYSE:BN) last posted its quarterly earnings data on Thursday, August 13th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.62 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.66 billion. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. As a group, equities analysts anticipate that Brookfield Corporation will post 2.88 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BN shares. Weiss Ratings reissued a “hold (c)” rating on shares of Brookfield in a research note on Monday, September 21st. Scotia raised their target price on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a report on Friday, August 14th. JPMorgan Chase & Co. boosted their price target on Brookfield from $56.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday. Zacks Research lowered shares of Brookfield from a “hold” rating to a “strong sell” rating in a research report on Monday, October 19th. Finally, Morgan Stanley set a $59.00 price target on shares of Brookfield and gave the company an “overweight” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.70.

Brookfield Company Profile

Brookfield Corporation is a global investment and operating company focused on owning and managing businesses and assets in sectors including renewable power, infrastructure, real estate, private equity and credit. It invests directly and through its asset management business, Brookfield Asset Management, which serves institutional and individual investors. The company’s operations and investments span multiple regions, including North America, South America, Europe and Asia-Pacific. Its portfolio includes renewable energy facilities, transportation and utility infrastructure, commercial and residential real estate, and businesses in a range of industries.