Brookfield Corporation $BN Stake Lessened by New South Capital Management Inc.

New South Capital Management Inc. lowered its holdings in shares of Brookfield Corporation (NYSE:BN) by 18.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 992,533 shares of the company’s stock after selling 220,956 shares during the period. Brookfield comprises approximately 2.5% of New South Capital Management Inc.’s portfolio, making the stock its 12th biggest holding. New South Capital Management Inc.’s holdings in Brookfield were worth $36,188,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fortitude Family Office LLC purchased a new position in Brookfield in the 3rd quarter worth approximately $26,000. Silicon Valley Capital Partners bought a new position in Brookfield in the 2nd quarter worth approximately $32,000. Kings Path Partners LLC bought a new position in Brookfield in the 3rd quarter worth approximately $35,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Brookfield by 203.5% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,229 shares of the company’s stock valued at $50,000 after buying an additional 824 shares in the last quarter. Finally, Virginia Estate & Retirement Planning Advisors Inc. purchased a new stake in Brookfield during the 3rd quarter valued at approximately $46,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of Brookfield stock opened at $42.02 on Thursday. The stock has a 50 day moving average of $38.29 and a 200 day moving average of $42.39. Brookfield Corporation has a 12 month low of $35.61 and a 12 month high of $49.56. The firm has a market cap of $103.05 billion, a PE ratio of 76.40 and a beta of 1.53. The company has a current ratio of 1.34, a quick ratio of 1.22 and a debt-to-equity ratio of 1.54.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. Brookfield had a return on equity of 3.93% and a net margin of 1.85%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. On average, research analysts expect that Brookfield Corporation will post 2.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BN has been the topic of several recent analyst reports. BMO Capital Markets upgraded shares of Brookfield to a “strong-buy” rating in a research report on Monday, July 27th. Scotia upped their target price on shares of Brookfield from $53.00 to $54.00 and gave the stock a “sector outperform” rating in a research report on Friday, August 14th. Scotiabank reaffirmed an “outperform” rating and set a $54.00 target price (up from $53.00) on shares of Brookfield in a research note on Friday, August 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a report on Monday, September 21st. Finally, Zacks Research downgraded shares of Brookfield from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Brookfield currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.70.

About Brookfield

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.