Cooke & Bieler LP Trims Stock Holdings in Brookfield Corporation $BN

Cooke & Bieler LP lessened its stake in shares of Brookfield Corporation (NYSE:BN) by 33.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,354,323 shares of the company’s stock after selling 1,162,873 shares during the quarter. Brookfield accounts for about 1.7% of Cooke & Bieler LP’s holdings, making the stock its 16th biggest holding. Cooke & Bieler LP owned approximately 0.10% of Brookfield worth $161,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Hilltop National Bank purchased a new position in shares of Brookfield during the 2nd quarter worth approximately $30,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Brookfield during the second quarter worth $32,000. Ameritas Advisory Services LLC acquired a new stake in shares of Brookfield in the second quarter valued at $33,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of Brookfield by 109.3% in the second quarter. Cary Street Partners Investment Advisory LLC now owns 632 shares of the company’s stock valued at $39,000 after buying an additional 330 shares in the last quarter. Finally, First Horizon Corp purchased a new stake in shares of Brookfield in the 3rd quarter valued at $40,000. 61.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BN shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Brookfield in a research note on Monday, December 29th. Zacks Research upgraded shares of Brookfield from a “strong sell” rating to a “hold” rating in a report on Monday, January 19th. Royal Bank Of Canada reissued an “outperform” rating and issued a $58.00 price target (up previously from $57.00) on shares of Brookfield in a research report on Monday, December 15th. Wall Street Zen lowered Brookfield from a “hold” rating to a “sell” rating in a research report on Saturday, January 17th. Finally, Morgan Stanley set a $54.00 target price on Brookfield and gave the company an “overweight” rating in a report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $53.87.

Brookfield Trading Up 1.2%

BN opened at $47.17 on Monday. Brookfield Corporation has a one year low of $29.07 and a one year high of $49.56. The company has a market cap of $116.82 billion, a P/E ratio of 131.01 and a beta of 1.58. 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’s 50-day simple moving average is $46.28 and its 200-day simple moving average is $45.36.

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

Brookfield Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date was Tuesday, December 16th. Brookfield’s dividend payout ratio (DPR) is currently 66.67%.

Brookfield Profile

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.