Brookfield Corporation $BN Holdings Lessened by 1832 Asset Management L.P.

1832 Asset Management L.P. trimmed its position in shares of Brookfield Corporation (NYSE:BN) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,423,346 shares of the company’s stock after selling 916,848 shares during the period. Brookfield makes up about 0.9% of 1832 Asset Management L.P.’s holdings, making the stock its 10th largest holding. 1832 Asset Management L.P. owned about 1.12% of Brookfield worth $1,139,484,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Brookfield by 1.6% in the first quarter. Vanguard Group Inc. now owns 60,892,877 shares of the company’s stock worth $3,186,707,000 after acquiring an additional 988,419 shares in the last quarter. Pershing Square Capital Management L.P. boosted its holdings in Brookfield by 17.5% in the first quarter. Pershing Square Capital Management L.P. now owns 41,004,657 shares of the company’s stock valued at $2,149,054,000 after purchasing an additional 6,111,593 shares in the last quarter. Akre Capital Management LLC grew its position in shares of Brookfield by 0.7% in the 1st quarter. Akre Capital Management LLC now owns 19,094,021 shares of the company’s stock valued at $1,000,718,000 after buying an additional 124,842 shares during the last quarter. Norges Bank acquired a new stake in shares of Brookfield during the second quarter worth about $1,040,160,000. Finally, Mackenzie Financial Corp increased its position in Brookfield by 1.6% during the second quarter. Mackenzie Financial Corp now owns 16,319,256 shares of the company’s stock worth $1,010,616,000 after buying an additional 249,913 shares during the period. Institutional investors and hedge funds own 61.60% of the company’s stock.

Brookfield Stock Performance

NYSE BN opened at $46.32 on Wednesday. The business’s 50-day moving average price is $45.42 and its 200 day moving average price is $43.52. The company has a current ratio of 1.31, a quick ratio of 1.19 and a debt-to-equity ratio of 1.54. Brookfield Corporation has a twelve month low of $29.07 and a twelve month high of $49.47. The company has a market capitalization of $114.69 billion, a PE ratio of 128.68 and a beta of 1.57.

Brookfield (NYSE:BN) last released its quarterly earnings data on Thursday, November 13th. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.58 billion. Brookfield had a return on equity of 3.92% and a net margin of 1.34%. On average, research analysts predict that Brookfield Corporation will post 3.85 earnings per share for the current year.

Brookfield Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.06 per share. The ex-dividend date is Tuesday, December 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. Brookfield’s dividend payout ratio (DPR) is currently 66.67%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. BMO Capital Markets increased their price objective on Brookfield from $44.00 to $46.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Morgan Stanley set a $54.00 price objective on Brookfield and gave the stock an “overweight” rating in a report on Monday, October 13th. The Goldman Sachs Group started coverage on Brookfield in a report on Tuesday, September 2nd. They issued a “buy” rating and a $52.00 target price for the company. Wall Street Zen downgraded shares of Brookfield from a “hold” rating to a “sell” rating in a report on Saturday, November 22nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $53.47.

Brookfield Company 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.