Brookfield Corporation $BN Holdings Cut by Guardian Partners Inc.

Guardian Partners Inc. cut its position in shares of Brookfield Corporation (NYSE:BN) by 3.4% during the third quarter, Holdings Channel.com reports. The firm owned 439,672 shares of the company’s stock after selling 15,382 shares during the quarter. Brookfield makes up approximately 1.4% of Guardian Partners Inc.’s portfolio, making the stock its 19th biggest position. Guardian Partners Inc.’s holdings in Brookfield were worth $16,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of Nova Scotia grew its stake in shares of Brookfield by 11.4% in the 1st quarter. Bank of Nova Scotia now owns 15,340,928 shares of the company’s stock valued at $621,443,000 after buying an additional 1,575,668 shares during the period. Madison Asset Management LLC acquired a new stake in shares of Brookfield during the 2nd quarter worth approximately $55,655,000. WCM Investment Management LLC increased its holdings in shares of Brookfield by 454.4% during the 1st quarter. WCM Investment Management LLC now owns 1,103,817 shares of the company’s stock worth $42,740,000 after buying an additional 904,701 shares during the last quarter. Nykredit A S purchased a new stake in shares of Brookfield during the 2nd quarter valued at approximately $23,546,000. Finally, TD Waterhouse Canada Inc. raised its position in shares of Brookfield by 3.6% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 14,398,936 shares of the company’s stock valued at $522,741,000 after buying an additional 495,666 shares during the period. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BN has been the topic of a number of recent analyst reports. Scotiabank reiterated an “outperform” rating and issued a $54.00 price objective (up from $53.00) on shares of Brookfield in a report on Friday, August 14th. TD increased their price objective on Brookfield from $60.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Morgan Stanley set a $59.00 target price on Brookfield and gave the stock an “overweight” rating in a research note on Tuesday, July 21st. Weiss Ratings restated a “hold (c)” rating on shares of Brookfield in a research report on Monday, September 21st. Finally, Zacks Research downgraded Brookfield from a “hold” rating to a “strong sell” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.40.

Brookfield Trading Up 1.0%

Shares of Brookfield stock traded up $0.38 on Wednesday, reaching $37.70. The company had a trading volume of 1,924,723 shares, compared to its average volume of 5,086,143. The firm’s 50 day moving average price is $38.92 and its two-hundred day moving average price is $42.36. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.22 and a current ratio of 1.34. Brookfield Corporation has a 52-week low of $35.61 and a 52-week high of $49.56. The firm has a market cap of $92.43 billion, a PE ratio of 68.50 and a beta of 1.56.

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

Brookfield Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Monday, September 14th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, September 14th. Brookfield’s dividend payout ratio is 50.91%.

Brookfield Profile

Brookfield Corporation (NYSE: BN) is a global investment and asset management company headquartered in Toronto, Canada. Through its businesses and investments, the company owns and operates assets across real estate, renewable power and energy transition, infrastructure, private equity and related sectors.

Brookfield’s portfolio includes office, retail, residential and logistics properties; renewable power generation and energy-transition projects; transportation, utility and data infrastructure; and operating companies in industries such as business services, industrials and technology.