TD Asset Management Inc Has $1.68 Billion Holdings in Brookfield Corporation $BN

TD Asset Management Inc trimmed its holdings in shares of Brookfield Corporation (NYSE:BN) by 0.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 24,439,087 shares of the company’s stock after selling 57,563 shares during the quarter. Brookfield accounts for approximately 1.4% of TD Asset Management Inc’s investment portfolio, making the stock its 13th biggest holding. TD Asset Management Inc’s holdings in Brookfield were worth $1,677,223,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Brookfield during the 2nd quarter valued at $32,000. Cary Street Partners Investment Advisory LLC grew its holdings in Brookfield by 109.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock worth $39,000 after purchasing an additional 330 shares during the period. First Horizon Corp bought a new stake in Brookfield in the third quarter valued at $40,000. Versant Capital Management Inc raised its holdings in shares of Brookfield by 507.5% during the third quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock valued at $45,000 after purchasing an additional 543 shares during the period. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Brookfield during the second quarter valued at about $51,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 2.2%

Shares of NYSE:BN opened at $44.98 on Wednesday. The business’s 50 day moving average is $46.59 and its 200 day moving average is $45.71. Brookfield Corporation has a 12-month low of $29.07 and a 12-month high of $49.56. The stock has a market cap of $110.18 billion, a price-to-earnings ratio of 91.17 and a beta of 1.57. The company has a quick ratio of 1.21, a current ratio of 1.32 and a debt-to-equity ratio of 1.48.

Brookfield (NYSE:BN) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.06. The business had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Brookfield had a return on equity of 3.87% and a net margin of 1.74%. On average, sell-side analysts forecast that Brookfield Corporation will post 3.85 earnings per share for the current fiscal year.

Brookfield Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.6%. This is a boost from Brookfield’s previous quarterly dividend of $0.06. The ex-dividend date is Tuesday, March 17th. Brookfield’s dividend payout ratio is presently 57.14%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BN shares. TD Securities boosted their target price on Brookfield from $57.00 to $59.00 and gave the company a “buy” rating in a research report on Friday, November 14th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Brookfield in a research note on Monday, December 1st. Royal Bank Of Canada upped their target price on Brookfield from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, February 13th. Morgan Stanley reissued an “overweight” rating and issued a $60.00 price target on shares of Brookfield in a research report on Tuesday, February 17th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $52.00 price objective (up from $50.67) on shares of Brookfield in a report on Friday, November 14th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Brookfield presently has an average rating of “Moderate Buy” and an average target price of $54.59.

Brookfield Company 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.