Brookfield Corporation $BN Stake Reduced by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. cut its position in shares of Brookfield Corporation (NYSE:BN) by 2.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,164,145 shares of the company’s stock after selling 44,619 shares during the period. Brookfield comprises 4.3% of Cardinal Capital Management Inc.’s portfolio, making the stock its 4th biggest position. Cardinal Capital Management Inc. owned 0.13% of Brookfield worth $148,584,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in BN. Hilltop National Bank bought a new stake in shares of Brookfield in the second quarter valued at about $30,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Brookfield in the 2nd quarter valued at about $32,000. Ameritas Advisory Services LLC purchased a new stake in shares of Brookfield in the 2nd quarter worth approximately $33,000. Cary Street Partners Investment Advisory LLC boosted its stake in shares of Brookfield by 109.3% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after purchasing an additional 330 shares in the last quarter. Finally, Financial Gravity Companies Inc. purchased a new position in Brookfield during the second quarter valued at approximately $51,000. Institutional investors own 61.60% of the company’s stock.

Brookfield Price Performance

Shares of NYSE BN opened at $45.30 on Tuesday. Brookfield Corporation has a fifty-two week low of $29.07 and a fifty-two week high of $49.47. The company has a market cap of $112.14 billion, a PE ratio of 125.82 and a beta of 1.57. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.19 and a current ratio of 1.31. The business has a 50-day simple moving average of $45.55 and a two-hundred day simple moving average of $44.02.

Brookfield (NYSE:BN) last announced its quarterly earnings data on Thursday, November 13th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.58 billion. Brookfield had a net margin of 1.34% and a return on equity of 3.92%. As a group, equities analysts expect that Brookfield Corporation will post 3.85 EPS for the current fiscal year.

Brookfield Announces Dividend

The business 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. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Tuesday, December 16th. Brookfield’s payout ratio is presently 66.67%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on BN. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Brookfield in a report on Monday, December 1st. The Goldman Sachs Group started coverage on Brookfield in a research note on Tuesday, September 2nd. They set a “buy” rating and a $52.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Brookfield from $48.67 to $55.33 and gave the company an “overweight” rating in a research note on Friday, October 3rd. Wall Street Zen lowered shares of Brookfield from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Finally, CIBC restated an “outperform” rating and issued a $52.00 price target (up from $50.67) on shares of Brookfield in a report on Friday, November 14th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.57.

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.