Beutel Goodman & Co Ltd. Has $311.50 Million Holdings in Brookfield Corporation $BN

Beutel Goodman & Co Ltd. cut its holdings in shares of Brookfield Corporation (NYSE:BN) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,043,131 shares of the company’s stock after selling 168,803 shares during the period. Brookfield makes up approximately 1.8% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 28th largest holding. Beutel Goodman & Co Ltd. owned 0.31% of Brookfield worth $311,495,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Norges Bank bought a new position in shares of Brookfield during the 2nd quarter valued at about $1,040,160,000. Pershing Square Capital Management L.P. increased its stake in Brookfield by 17.5% during the 1st quarter. Pershing Square Capital Management L.P. now owns 41,004,657 shares of the company’s stock worth $2,149,054,000 after purchasing an additional 6,111,593 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Brookfield by 83.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,699,178 shares of the company’s stock worth $403,514,000 after buying an additional 3,500,003 shares during the period. Regents of The University of California lifted its stake in Brookfield by 123.1% in the first quarter. Regents of The University of California now owns 5,986,137 shares of the company’s stock valued at $313,733,000 after buying an additional 3,303,102 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in Brookfield in the second quarter valued at approximately $140,555,000. 61.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BN shares. JPMorgan Chase & Co. increased their price objective on shares of Brookfield from $48.67 to $55.33 and gave the stock an “overweight” rating in a research report on Friday, October 3rd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Brookfield in a research note on Monday. Wall Street Zen downgraded Brookfield from a “hold” rating to a “sell” rating in a research note on Saturday, November 22nd. Zacks Research lowered Brookfield from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, TD Securities increased their price objective on Brookfield from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Brookfield has an average rating of “Buy” and a consensus target price of $53.47.

Brookfield Price Performance

NYSE:BN opened at $46.68 on Friday. The stock has a market capitalization of $115.58 billion, a PE ratio of 129.68 and a beta of 1.57. Brookfield Corporation has a 1-year low of $29.07 and a 1-year high of $49.47. The firm has a fifty day simple moving average of $45.45 and a 200 day simple moving average of $43.56. 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 (NYSE:BN) last posted its quarterly earnings results on Thursday, November 13th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.02. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. The firm had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.58 billion. On average, research analysts expect that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued 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 yield of 0.5%. Brookfield’s dividend payout ratio (DPR) is presently 66.67%.

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.