Avalon Trust Co Reduces Holdings in Brookfield Corporation $BN

Avalon Trust Co lessened its position in Brookfield Corporation (NYSE:BN) by 10.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,000 shares of the company’s stock after selling 2,000 shares during the quarter. Avalon Trust Co’s holdings in Brookfield were worth $1,113,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BN. Cerity Partners LLC lifted its stake in Brookfield by 17.5% in the first quarter. Cerity Partners LLC now owns 106,147 shares of the company’s stock worth $5,563,000 after purchasing an additional 15,823 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Brookfield by 15.6% in the first quarter. Bleakley Financial Group LLC now owns 23,992 shares of the company’s stock worth $1,257,000 after buying an additional 3,232 shares during the period. Signaturefd LLC lifted its stake in shares of Brookfield by 22.0% during the 1st quarter. Signaturefd LLC now owns 10,255 shares of the company’s stock worth $537,000 after acquiring an additional 1,846 shares during the last quarter. SBI Securities Co. Ltd. boosted its holdings in Brookfield by 46.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 2,760 shares of the company’s stock valued at $145,000 after acquiring an additional 878 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Brookfield by 1.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,524,840 shares of the company’s stock valued at $132,327,000 after acquiring an additional 30,680 shares during the period. 61.60% of the stock is owned by hedge funds and other institutional investors.

Brookfield Stock Performance

Shares of BN stock opened at $46.88 on Thursday. The firm has a market cap of $116.01 billion, a price-to-earnings ratio of 163.52 and a beta of 1.73. Brookfield Corporation has a 52-week low of $29.07 and a 52-week high of $49.47. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 1.50. The company’s 50 day moving average is $45.69 and its 200 day moving average is $42.75.

Analyst Ratings Changes

A number of research firms have weighed in on BN. Weiss Ratings reiterated a “hold (c-)” rating on shares of Brookfield in a research note on Wednesday, October 8th. National Bankshares set a $54.67 price target on shares of Brookfield and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Morgan Stanley set a $54.00 price target on Brookfield and gave the company an “overweight” rating in a report on Monday, October 13th. Royal Bank Of Canada raised their price objective on Brookfield from $55.00 to $57.00 and gave the stock an “outperform” rating in a report on Thursday, October 16th. Finally, Zacks Research upgraded Brookfield from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 14th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $52.63.

Brookfield Profile

Brookfield Corporation is an alternative asset manager and REIT/Real Estate Investment Manager firm focuses on real estate, renewable power, infrastructure and venture capital and private equity assets. It manages a range of public and private investment products and services for institutional and retail clients.