Brookfield Corporation $BN Shares Sold by Florida Trust Wealth Management Co

Florida Trust Wealth Management Co reduced its stake in shares of Brookfield Corporation (NYSE:BN) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 789,349 shares of the company’s stock after selling 12,843 shares during the quarter. Brookfield comprises about 1.5% of Florida Trust Wealth Management Co’s investment portfolio, making the stock its 14th largest holding. Florida Trust Wealth Management Co’s holdings in Brookfield were worth $54,134,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BN. Hilltop National Bank acquired a new stake in shares of Brookfield in the 2nd quarter worth approximately $30,000. Twin Peaks Wealth Advisors LLC bought a new stake in Brookfield during the second quarter worth approximately $32,000. Ameritas Advisory Services LLC acquired a new stake in Brookfield in the second quarter worth approximately $33,000. First Horizon Corp bought a new position in Brookfield during the 3rd quarter valued at $40,000. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Brookfield by 109.3% during the 2nd 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 during the period. Institutional investors own 61.60% of the company’s stock.

Brookfield Stock Up 0.1%

Shares of NYSE:BN opened at $47.38 on Monday. The firm has a 50 day simple moving average of $46.15 and a 200 day simple moving average of $45.21. Brookfield Corporation has a 52 week low of $29.07 and a 52 week high of $49.56. 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 company has a market cap of $117.35 billion, a PE ratio of 131.61 and a beta of 1.58.

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

Brookfield Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th were given a dividend of $0.06 per share. The ex-dividend date was 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%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Brookfield from $48.67 to $55.33 and gave the company an “overweight” rating in a report on Friday, October 3rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $58.00 price target (up from $57.00) on shares of Brookfield in a report on Monday, December 15th. BMO Capital Markets restated an “outperform” rating and set a $49.00 price objective (up previously from $46.00) on shares of Brookfield in a research report on Wednesday, December 17th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Brookfield in a report on Monday, December 1st. Finally, CIBC restated an “outperform” rating and set a $52.00 target price (up from $50.67) on shares of Brookfield in a report on Friday, November 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.87.

About Brookfield

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.